MetLife Investment Management LLC Has $772,000 Holdings in PriceSmart, Inc. (NASDAQ:PSMT)

Posted by Defense World Staff on Mar 2nd, 2023

MetLife Investment Management LLC raised its holdings in PriceSmart, Inc. (NASDAQ:PSMT – Get Rating) by 8.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,402 shares of the company’s stock after buying an additional 992 shares during the quarter. MetLife Investment Management LLC’s holdings in PriceSmart were worth $772,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Point72 Hong Kong Ltd acquired a new position in shares of PriceSmart during the first quarter worth approximately $37,000. Quadrant Capital Group LLC raised its position in shares of PriceSmart by 251.7% during the third quarter. Quadrant Capital Group LLC now owns 911 shares of the company’s stock worth $52,000 after purchasing an additional 652 shares during the period. PNC Financial Services Group Inc. raised its position in shares of PriceSmart by 43.1% during the first quarter. PNC Financial Services Group Inc. now owns 1,737 shares of the company’s stock worth $137,000 after purchasing an additional 523 shares during the period. Guggenheim Capital LLC acquired a new position in shares of PriceSmart during the first quarter worth approximately $203,000. Finally, First Republic Investment Management Inc. raised its position in shares of PriceSmart by 12.5% during the third quarter. First Republic Investment Management Inc. now owns 3,710 shares of the company’s stock worth $214,000 after purchasing an additional 412 shares during the period. 80.61% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at PriceSmart

In other PriceSmart news, CEO Sherry S. Bahrambeygui sold 15,000 shares of the company’s stock in a transaction on Friday, January 13th. The stock was sold at an average price of $69.74, for a total value of $1,046,100.00. Following the completion of the transaction, the chief executive officer now owns 177,306 shares in the company, valued at approximately $12,365,320.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Rodrigo Calvo sold 1,521 shares of the company’s stock in a transaction on Monday, February 13th. The stock was sold at an average price of $72.98, for a total transaction of $111,002.58. Following the transaction, the executive vice president now owns 18,467 shares of the company’s stock, valued at approximately $1,347,721.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sherry S. Bahrambeygui sold 15,000 shares of the company’s stock in a transaction on Friday, January 13th. The shares were sold at an average price of $69.74, for a total value of $1,046,100.00. Following the transaction, the chief executive officer now directly owns 177,306 shares in the company, valued at approximately $12,365,320.44. The disclosure for this sale can be found here. Insiders sold 51,703 shares of company stock worth $3,656,453 in the last quarter. 17.40% of the stock is currently owned by company insiders.

PriceSmart Trading Up 0.4 %

Shares of PriceSmart stock opened at $69.98 on Thursday. The stock has a fifty day simple moving average of $69.14 and a 200 day simple moving average of $66.18. PriceSmart, Inc. has a 12-month low of $56.29 and a 12-month high of $88.30. The company has a market capitalization of $2.17 billion, a P/E ratio of 20.28 and a beta of 0.87. The company has a current ratio of 1.40, a quick ratio of 0.56 and a debt-to-equity ratio of 0.12.

PriceSmart (NASDAQ:PSMT – Get Rating) last announced its quarterly earnings results on Monday, January 9th. The company reported $1.05 earnings per share (EPS) for the quarter. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.08 billion. PriceSmart had a return on equity of 10.86% and a net margin of 2.58%. PriceSmart’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.98 earnings per share.

PriceSmart Announces Dividend

The firm also recently disclosed a Semi-Annual dividend, which will be paid on Thursday, August 31st. Shareholders of record on Tuesday, August 15th will be paid a $0.46 dividend. The ex-dividend date of this dividend is Monday, August 14th. This represents a yield of 1.2%. PriceSmart’s dividend payout ratio (DPR) is presently 26.67%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Scotiabank lowered PriceSmart from a “sector outperform” rating to a “sector perform” rating and lowered their target price for the stock from $96.00 to $77.00 in a research report on Tuesday, November 29th. StockNews.com downgraded PriceSmart from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 11th. Finally, TheStreet upgraded PriceSmart from a “c+” rating to a “b-” rating in a report on Wednesday, January 25th.

About PriceSmart

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PriceSmart, Inc engages in the business of managing membership shopping warehouse club concepts to emerging and developing countries. It operates through the following geographical segments: United States Operations, Central American Operations, Caribbean Operations, and Colombia Operations. The Central America Operations segment includes Panama, Guatemala, Costa Rica, El Salvador, Honduras, and Nicaragua.