Aviva PLC decreased its position in PriceSmart, Inc. (NASDAQ:PSMT – Free Report) by 59.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,819 shares of the company’s stock after selling 11,417 shares during the quarter. Aviva PLC’s holdings in PriceSmart were worth $582,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the company. Point72 Hong Kong Ltd bought a new position in PriceSmart during the first quarter worth $37,000. Bessemer Group Inc. increased its position in PriceSmart by 50.1% during the second quarter. Bessemer Group Inc. now owns 578 shares of the company’s stock worth $43,000 after acquiring an additional 193 shares during the period. Headlands Technologies LLC bought a new position in PriceSmart during the third quarter worth $47,000. Tower Research Capital LLC TRC increased its position in PriceSmart by 80.3% during the first quarter. Tower Research Capital LLC TRC now owns 759 shares of the company’s stock worth $54,000 after acquiring an additional 338 shares during the period. Finally, Lazard Asset Management LLC bought a new position in PriceSmart during the second quarter worth $87,000. Institutional investors own 81.19% of the company’s stock.
Wall Street Analyst Weigh In
PSMT has been the topic of a number of research reports. StockNews.com raised shares of PriceSmart from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. TheStreet raised shares of PriceSmart from a “c+” rating to a “b-” rating in a report on Tuesday, January 30th. Finally, Jefferies Financial Group started coverage on shares of PriceSmart in a report on Friday, December 1st. They issued a “buy” rating and a $82.00 price target on the stock.
PriceSmart Stock Up 1.3 %
Shares of NASDAQ:PSMT opened at $81.14 on Thursday. PriceSmart, Inc. has a 52 week low of $61.82 and a 52 week high of $83.71. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.50 and a current ratio of 1.25. The company’s fifty day moving average is $76.40 and its 200-day moving average is $74.25. The company has a market capitalization of $2.48 billion, a PE ratio of 21.99 and a beta of 0.90.
PriceSmart (NASDAQ:PSMT – Get Free Report) last issued its earnings results on Wednesday, January 10th. The company reported $1.24 EPS for the quarter, beating the consensus estimate of $1.09 by $0.15. PriceSmart had a net margin of 2.53% and a return on equity of 11.92%. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the previous year, the company earned $1.05 EPS. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. Equities research analysts predict that PriceSmart, Inc. will post 4.38 earnings per share for the current fiscal year.
PriceSmart Announces Dividend
The business also recently declared a semi-annual dividend, which will be paid on Friday, August 30th. Investors of record on Thursday, August 15th will be given a dividend of $0.58 per share. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a yield of 1.5%. PriceSmart’s dividend payout ratio (DPR) is 31.44%.
PriceSmart Profile
PriceSmart, Inc owns and operates U.S.-style membership shopping warehouse clubs in the United States, Central America, the Caribbean, and Colombia. The company provides basic and private label consumer products under the Member's Selection brand, including groceries, cleaning supplies, health and beauty aids, meat, produce, deli, seafood, and poultry.
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