Millennium Management LLC Increases Position in PriceSmart, Inc. (NASDAQ:PSMT)

Millennium Management LLC raised its position in PriceSmart, Inc. (NASDAQ:PSMT) by 10.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 84,846 shares of the company’s stock after purchasing an additional 8,266 shares during the quarter. Millennium Management LLC owned 0.28% of PriceSmart worth $6,889,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PSMT. Vanguard Group Inc. increased its position in shares of PriceSmart by 3.2% during the first quarter. Vanguard Group Inc. now owns 3,424,660 shares of the company’s stock worth $287,671,000 after acquiring an additional 105,405 shares during the period. EdgePoint Investment Group Inc. boosted its stake in shares of PriceSmart by 1.2% during the second quarter. EdgePoint Investment Group Inc. now owns 2,744,726 shares of the company’s stock worth $222,872,000 after buying an additional 31,263 shares during the period. Dimensional Fund Advisors LP raised its holdings in PriceSmart by 2.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,309,265 shares of the company’s stock worth $106,311,000 after purchasing an additional 35,390 shares in the last quarter. American Century Companies Inc. raised its holdings in PriceSmart by 20.4% during the second quarter. American Century Companies Inc. now owns 1,085,897 shares of the company’s stock worth $88,175,000 after purchasing an additional 184,252 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in PriceSmart by 1.1% during the second quarter. Bank of New York Mellon Corp now owns 264,585 shares of the company’s stock worth $21,484,000 after purchasing an additional 2,789 shares in the last quarter. Hedge funds and other institutional investors own 80.46% of the company’s stock.

PriceSmart Trading Down 1.0 %

Shares of PSMT opened at $91.11 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.20 and a quick ratio of 0.49. The firm has a 50 day simple moving average of $87.74 and a 200-day simple moving average of $84.61. PriceSmart, Inc. has a 1-year low of $61.82 and a 1-year high of $93.18. The stock has a market cap of $2.79 billion, a price-to-earnings ratio of 22.11 and a beta of 0.84.

PriceSmart (NASDAQ:PSMT) last announced its quarterly earnings results on Wednesday, July 10th. The company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.07. The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.21 billion. PriceSmart had a net margin of 2.60% and a return on equity of 11.89%. PriceSmart’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter last year, the business earned $1.02 EPS. Equities analysts forecast that PriceSmart, Inc. will post 4.64 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com raised shares of PriceSmart from a “buy” rating to a “strong-buy” rating in a report on Friday, August 9th.

Insider Activity

In related news, Director Sherry S. Bahrambeygui sold 9,500 shares of PriceSmart stock in a transaction on Monday, July 15th. The shares were sold at an average price of $84.37, for a total transaction of $801,515.00. Following the sale, the director now owns 61,216 shares of the company’s stock, valued at $5,164,793.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Francisco Velasco sold 670 shares of PriceSmart stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $89.05, for a total value of $59,663.50. Following the completion of the transaction, the executive vice president now directly owns 79,470 shares of the company’s stock, valued at approximately $7,076,803.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Sherry S. Bahrambeygui sold 9,500 shares of PriceSmart stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $84.37, for a total transaction of $801,515.00. Following the completion of the transaction, the director now directly owns 61,216 shares of the company’s stock, valued at $5,164,793.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,904 shares of company stock valued at $1,806,714. Company insiders own 18.60% of the company’s stock.

PriceSmart Company 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.