Franklin Resources Inc. Has $399,000 Stock Holdings in PriceSmart, Inc. (NASDAQ:PSMT)

Franklin Resources Inc. trimmed its stake in shares of PriceSmart, Inc. (NASDAQ:PSMT) by 44.6% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 4,407 shares of the company’s stock after selling 3,552 shares during the quarter. Franklin Resources Inc.’s holdings in PriceSmart were worth $399,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of PSMT. American Century Companies Inc. lifted its position 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 during the period. Copeland Capital Management LLC raised its position in shares of PriceSmart by 18.7% in the 3rd quarter. Copeland Capital Management LLC now owns 481,182 shares of the company’s stock valued at $44,163,000 after buying an additional 75,896 shares in the last quarter. EdgePoint Investment Group Inc. increased its stake in PriceSmart by 2.7% in the third quarter. EdgePoint Investment Group Inc. now owns 2,818,927 shares of the company’s stock valued at $258,721,000 after acquiring an additional 74,201 shares during the last quarter. FMR LLC raised its position in PriceSmart by 5.9% during the third quarter. FMR LLC now owns 1,182,739 shares of the company’s stock valued at $108,552,000 after purchasing an additional 65,492 shares in the last quarter. Finally, LSV Asset Management lifted its stake in PriceSmart by 28.9% during the second quarter. LSV Asset Management now owns 234,571 shares of the company’s stock worth $19,047,000 after purchasing an additional 52,600 shares during the last quarter. 80.46% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com upgraded PriceSmart from a “hold” rating to a “buy” rating in a research note on Saturday, November 30th.

PriceSmart Price Performance

Shares of NASDAQ:PSMT opened at $92.17 on Wednesday. PriceSmart, Inc. has a one year low of $72.14 and a one year high of $99.23. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.22 and a quick ratio of 0.45. The company has a market cap of $2.83 billion, a price-to-earnings ratio of 20.17 and a beta of 0.86. The firm has a 50 day simple moving average of $91.12 and a 200 day simple moving average of $88.14.

PriceSmart (NASDAQ:PSMT) last announced its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $1.22 billion. PriceSmart had a net margin of 2.83% and a return on equity of 12.63%. The firm’s revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.65 earnings per share. Research analysts predict that PriceSmart, Inc. will post 5.28 earnings per share for the current fiscal year.

Insider Buying and Selling at PriceSmart

In other news, CFO Michael Mccleary sold 4,000 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $89.62, for a total value of $358,480.00. Following the completion of the sale, the chief financial officer now owns 62,141 shares of the company’s stock, valued at approximately $5,569,076.42. This represents a 6.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP David R. Price sold 2,750 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $92.24, for a total value of $253,660.00. Following the transaction, the executive vice president now owns 48,844 shares of the company’s stock, valued at $4,505,370.56. This trade represents a 5.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,290 shares of company stock worth $1,476,009. 17.10% of the stock is currently owned by insiders.

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.