California State Teachers Retirement System Grows Stake in PriceSmart, Inc. $PSMT

California State Teachers Retirement System raised its holdings in PriceSmart, Inc. (NASDAQ:PSMT) by 22.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 30,720 shares of the company’s stock after buying an additional 5,680 shares during the quarter. California State Teachers Retirement System’s holdings in PriceSmart were worth $4,623,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Geneos Wealth Management Inc. lifted its stake in PriceSmart by 560.0% in the first quarter. Geneos Wealth Management Inc. now owns 297 shares of the company’s stock worth $26,000 after acquiring an additional 252 shares during the period. UMB Bank n.a. increased its position in PriceSmart by 76.0% during the 4th quarter. UMB Bank n.a. now owns 227 shares of the company’s stock valued at $28,000 after purchasing an additional 98 shares during the period. CENTRAL TRUST Co bought a new position in PriceSmart in the 4th quarter worth $32,000. Osaic Holdings Inc. raised its holdings in PriceSmart by 57.2% in the 2nd quarter. Osaic Holdings Inc. now owns 492 shares of the company’s stock worth $52,000 after purchasing an additional 179 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its position in shares of PriceSmart by 45,600.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 457 shares of the company’s stock worth $56,000 after purchasing an additional 456 shares during the period. 80.46% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at PriceSmart

In other PriceSmart news, EVP Francisco Velasco sold 338 shares of PriceSmart stock in a transaction on Friday, May 15th. The stock was sold at an average price of $158.56, for a total transaction of $53,593.28. Following the completion of the transaction, the executive vice president owned 75,659 shares in the company, valued at approximately $11,996,491.04. The trade was a 0.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sherry S. Bahrambeygui sold 3,499 shares of the business’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $197.38, for a total value of $690,632.62. Following the completion of the sale, the director directly owned 32,150 shares in the company, valued at $6,345,767. This trade represents a 9.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 7,737 shares of company stock worth $1,499,649. 17.00% of the stock is owned by insiders.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered shares of PriceSmart from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, May 29th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy”.

PriceSmart Price Performance

Shares of NASDAQ PSMT opened at $177.05 on Friday. The company has a 50 day simple moving average of $186.17 and a two-hundred day simple moving average of $164.88. PriceSmart, Inc. has a fifty-two week low of $105.46 and a fifty-two week high of $199.84. The company has a market capitalization of $5.46 billion, a price-to-earnings ratio of 33.98 and a beta of 0.76. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.53 and a current ratio of 1.28.

PriceSmart (NASDAQ:PSMT) last issued its quarterly earnings results on Wednesday, July 8th. The company reported $1.28 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.04). The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.43 billion. PriceSmart had a return on equity of 12.16% and a net margin of 2.82%.The business’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.14 earnings per share.

About PriceSmart

PriceSmart, Inc (NASDAQ: PSMT) is a U.S.-based retailer specializing in membership warehouse clubs. Founded in 1993, the company operates under a business model that offers bulk quantities of goods at discounted prices to individuals and businesses that purchase annual memberships. PriceSmart’s value proposition centers on low-cost operations, high-volume purchasing, and a no-frills shopping environment designed to pass savings directly to its members.

The company’s product assortment covers a broad range of merchandise categories, including groceries and fresh produce, household essentials, electronics, appliances, office supplies, furniture, and health and beauty items.