Victory Capital Management Inc. Buys 17,356 Shares of PriceSmart, Inc. (NASDAQ:PSMT)

Victory Capital Management Inc. grew its stake in shares of PriceSmart, Inc. (NASDAQ:PSMT) by 330.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,615 shares of the company’s stock after buying an additional 17,356 shares during the period. Victory Capital Management Inc. owned 0.07% of PriceSmart worth $2,076,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in PriceSmart in the first quarter worth approximately $117,000. Vanguard Group Inc. grew its position in shares of PriceSmart by 3.2% in the first quarter. Vanguard Group Inc. now owns 3,424,660 shares of the company’s stock valued at $287,671,000 after purchasing an additional 105,405 shares during the period. Bessemer Group Inc. purchased a new position in shares of PriceSmart in the first quarter worth about $157,000. CANADA LIFE ASSURANCE Co grew its holdings in shares of PriceSmart by 4.2% in the first quarter. CANADA LIFE ASSURANCE Co now owns 24,606 shares of the company’s stock valued at $2,068,000 after purchasing an additional 992 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of PriceSmart by 3.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 29,384 shares of the company’s stock worth $2,469,000 after purchasing an additional 899 shares during the period. 80.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of PriceSmart from a “buy” rating to a “hold” rating in a research note on Friday.

Insider Buying and Selling

In other news, EVP Paul Kovaleski sold 3,235 shares of PriceSmart stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $89.96, for a total transaction of $291,020.60. Following the completion of the sale, the executive vice president now directly owns 44,309 shares in the company, valued at $3,986,037.64. The trade was a 6.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jeffrey Fisher sold 5,478 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $90.83, for a total value of $497,566.74. Following the transaction, the director now directly owns 21,646 shares in the company, valued at approximately $1,966,106.18. This represents a 20.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,960 shares of company stock worth $1,535,673 in the last quarter. Company insiders own 18.60% of the company’s stock.

PriceSmart Stock Performance

Shares of PSMT stock opened at $89.96 on Monday. The stock’s 50-day moving average is $90.08 and its two-hundred day moving average is $86.40. The firm has a market cap of $2.76 billion, a price-to-earnings ratio of 19.68 and a beta of 0.85. PriceSmart, Inc. has a 1 year low of $66.95 and a 1 year high of $94.82. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.45 and a current ratio of 1.22.

PriceSmart (NASDAQ:PSMT) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.07). The firm had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.22 billion. PriceSmart had a return on equity of 12.63% and a net margin of 2.83%. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.65 EPS. Analysts predict that PriceSmart, Inc. will post 5.28 earnings per share for the current year.

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.