Victory Capital Management Inc. cut its position in shares of PriceSmart, Inc. (NASDAQ:PSMT – Free Report) by 23.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 9,102 shares of the company’s stock after selling 2,862 shares during the quarter. Victory Capital Management Inc.’s holdings in PriceSmart were worth $674,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of PSMT. JPMorgan Chase & Co. grew its holdings in shares of PriceSmart by 175.0% in the 1st quarter. JPMorgan Chase & Co. now owns 103,697 shares of the company’s stock worth $8,178,000 after acquiring an additional 65,984 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of PriceSmart by 1.4% in the 1st quarter. Bank of New York Mellon Corp now owns 301,840 shares of the company’s stock worth $23,806,000 after acquiring an additional 4,066 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of PriceSmart by 43.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,737 shares of the company’s stock worth $137,000 after acquiring an additional 523 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of PriceSmart by 2.1% in the 1st quarter. Bank of Montreal Can now owns 22,060 shares of the company’s stock worth $1,766,000 after acquiring an additional 446 shares during the last quarter. Finally, MetLife Investment Management LLC grew its holdings in shares of PriceSmart by 61.0% in the 1st quarter. MetLife Investment Management LLC now owns 12,883 shares of the company’s stock worth $1,016,000 after acquiring an additional 4,881 shares during the last quarter. 81.19% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Separately, StockNews.com initiated coverage on PriceSmart in a report on Thursday, October 5th. They set a “buy” rating on the stock.
PriceSmart Price Performance
PSMT opened at $66.50 on Friday. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of 19.00 and a beta of 0.89. PriceSmart, Inc. has a 1 year low of $60.01 and a 1 year high of $82.63. The company has a current ratio of 1.38, a quick ratio of 0.69 and a debt-to-equity ratio of 0.11. The stock has a fifty day moving average price of $74.57 and a 200 day moving average price of $75.00.
PriceSmart (NASDAQ:PSMT – Get Free Report) last announced its quarterly earnings results on Monday, October 30th. The company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.20). PriceSmart had a return on equity of 11.60% and a net margin of 2.48%. The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same period in the prior year, the firm earned $0.75 EPS. PriceSmart’s quarterly revenue was up 9.5% on a year-over-year basis.
About PriceSmart
PriceSmart, Inc owns and operates U.S. style membership shopping warehouse clubs in the United States, Central America, the Caribbean, and Colombia. Its warehouse clubs sell brand name and private label consumer products, essential goods, fresh produce, prepared foods, and fresh-baked goods, as well as provides services, such as optical, tire center, and other ancillary services.
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