Genesis Asset Managers LLP Has $68.71 Million Stake in PriceSmart, Inc. (PSMT)

Genesis Asset Managers LLP lessened its stake in PriceSmart, Inc. (NASDAQ:PSMT) by 6.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,166,911 shares of the company’s stock after selling 76,600 shares during the quarter. PriceSmart accounts for about 2.0% of Genesis Asset Managers LLP’s portfolio, making the stock its 14th largest holding. Genesis Asset Managers LLP’s holdings in PriceSmart were worth $68,708,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of PSMT. Kayne Anderson Rudnick Investment Management LLC raised its holdings in PriceSmart by 24.7% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,609,317 shares of the company’s stock worth $213,311,000 after purchasing an additional 714,632 shares during the period. Capital World Investors acquired a new position in PriceSmart in the 3rd quarter worth about $14,376,000. Norges Bank acquired a new position in PriceSmart in the 4th quarter worth about $9,644,000. Dimensional Fund Advisors LP raised its holdings in PriceSmart by 17.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 849,632 shares of the company’s stock worth $50,212,000 after purchasing an additional 123,795 shares during the period. Finally, Vanguard Group Inc raised its holdings in PriceSmart by 2.3% in the 3rd quarter. Vanguard Group Inc now owns 2,261,547 shares of the company’s stock worth $183,072,000 after purchasing an additional 49,836 shares during the period. 75.02% of the stock is owned by institutional investors and hedge funds.

Shares of PriceSmart stock traded down $1.49 during mid-day trading on Tuesday, reaching $61.11. 3,691 shares of the stock traded hands, compared to its average volume of 173,319. PriceSmart, Inc. has a fifty-two week low of $55.53 and a fifty-two week high of $94.45. The stock has a market capitalization of $1.90 billion, a P/E ratio of 25.14 and a beta of 0.87. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.27 and a quick ratio of 0.42.

PriceSmart (NASDAQ:PSMT) last announced its earnings results on Tuesday, April 9th. The company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.23. PriceSmart had a return on equity of 11.51% and a net margin of 2.38%. The business had revenue of $854.43 million during the quarter, compared to analysts’ expectations of $859.93 million. During the same quarter in the prior year, the firm earned $0.47 earnings per share. The business’s revenue was up 1.8% compared to the same quarter last year. As a group, research analysts anticipate that PriceSmart, Inc. will post 2.24 EPS for the current fiscal year.

The company also recently announced a semiannual dividend, which will be paid on Friday, August 30th. Shareholders of record on Thursday, August 15th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a dividend yield of 1.15%. PriceSmart’s payout ratio is currently 28.81%.

A number of equities analysts recently weighed in on PSMT shares. BidaskClub raised PriceSmart from a “strong sell” rating to a “sell” rating in a report on Tuesday, January 15th. Zacks Investment Research raised PriceSmart from a “hold” rating to a “buy” rating and set a $73.00 price target for the company in a report on Friday, January 18th. Finally, ValuEngine cut PriceSmart from a “hold” rating to a “sell” rating in a report on Tuesday, January 29th. Three analysts have rated the stock with a sell rating and one has assigned a hold rating to the stock. PriceSmart currently has a consensus rating of “Sell” and an average target price of $77.00.

In other news, EVP Rodrigo Calvo sold 2,117 shares of the company’s stock in a transaction that occurred on Thursday, January 24th. The stock was sold at an average price of $65.89, for a total value of $139,489.13. Following the completion of the sale, the executive vice president now directly owns 16,183 shares in the company, valued at $1,066,297.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mitchell G. Lynn sold 592 shares of the company’s stock in a transaction that occurred on Friday, February 1st. The shares were sold at an average price of $60.91, for a total value of $36,058.72. Following the completion of the sale, the director now owns 1,988 shares of the company’s stock, valued at $121,089.08. The disclosure for this sale can be found here. 27.10% of the stock is owned by corporate insiders.

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PriceSmart Profile

PriceSmart, Inc owns and operates U.S. style membership shopping warehouse clubs in Central America, the Caribbean, and Colombia. Its warehouse clubs sells brand name and private label consumer goods to individuals and businesses. As of November 30, 2018, the company operated 41 warehouse clubs comprising 7 each in Colombia and Costa Rica; 5 in Panama; 4 each in Trinidad and Dominican Republic; 3 each in Guatemala and Honduras; 2 each in El Salvador and Nicaragua; and 1 each in Aruba, Barbados, Jamaica, and the United States Virgin Islands.

Further Reading: Support Level

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Institutional Ownership by Quarter for PriceSmart (NASDAQ:PSMT)

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