PriceSmart, Inc. (PSMT) Position Cut by Metropolitan Life Insurance Co. NY

Metropolitan Life Insurance Co. NY reduced its stake in shares of PriceSmart, Inc. (NASDAQ:PSMT) by 1.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,864 shares of the company’s stock after selling 167 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in PriceSmart were worth $1,278,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. increased its stake in PriceSmart by 11.0% in the first quarter. Vanguard Group Inc. now owns 2,016,257 shares of the company’s stock worth $185,899,000 after buying an additional 200,045 shares during the period. Wellington Management Group LLP increased its stake in PriceSmart by 1.7% in the first quarter. Wellington Management Group LLP now owns 1,348,139 shares of the company’s stock worth $124,298,000 after buying an additional 21,936 shares during the period. BlackRock Inc. increased its stake in PriceSmart by 76,229.7% in the first quarter. BlackRock Inc. now owns 1,286,919 shares of the company’s stock worth $118,654,000 after buying an additional 1,285,233 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its stake in PriceSmart by 16.0% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,269,690 shares of the company’s stock worth $117,066,000 after buying an additional 174,683 shares during the period. Finally, Bank of Montreal Can increased its stake in PriceSmart by 4.8% in the first quarter. Bank of Montreal Can now owns 910,818 shares of the company’s stock worth $83,978,000 after buying an additional 41,599 shares during the period. 73.57% of the stock is currently owned by institutional investors.

PriceSmart, Inc. (PSMT) traded up 0.68% on Friday, hitting $81.05. 72,091 shares of the stock were exchanged. The company has a market capitalization of $2.43 billion, a PE ratio of 26.50 and a beta of 1.24. PriceSmart, Inc. has a 1-year low of $78.00 and a 1-year high of $94.40. The company has a 50-day moving average price of $83.32 and a 200 day moving average price of $87.18.

PriceSmart (NASDAQ:PSMT) last released its earnings results on Wednesday, July 5th. The company reported $0.62 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.67 by $0.05. The business had revenue of $730.30 million during the quarter, compared to analysts’ expectations of $734.80 million. PriceSmart had a return on equity of 14.05% and a net margin of 3.13%. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.55 earnings per share. Analysts anticipate that PriceSmart, Inc. will post $3.08 EPS for the current fiscal year.

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PSMT has been the subject of a number of analyst reports. Roth Capital set a $102.00 price target on shares of PriceSmart and gave the stock a “buy” rating in a research note on Tuesday, August 8th. BidaskClub upgraded shares of PriceSmart from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. TheStreet cut shares of PriceSmart from a “b” rating to a “c+” rating in a research note on Thursday, July 13th. Finally, Zacks Investment Research cut shares of PriceSmart from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 12th.

In other news, Director Sherry S. Bahrambeygui sold 3,561 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $84.88, for a total value of $302,257.68. Following the sale, the director now directly owns 125,374 shares of the company’s stock, valued at approximately $10,641,745.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 28.00% of the stock is owned by corporate insiders.

About PriceSmart

PriceSmart, Inc, through its subsidiaries, is engaged in the international operation of membership shopping in warehouse clubs. In addition, the Company operates distribution centers and offices in the United States. The Company’s segments include the United States, Central America, the Caribbean and Colombia.

Institutional Ownership by Quarter for PriceSmart (NASDAQ:PSMT)

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