PNC Financial Services Group Inc. Buys 1,893 Shares of PriceSmart, Inc. (NASDAQ:PSMT)

PNC Financial Services Group Inc. boosted its stake in PriceSmart, Inc. (NASDAQ:PSMT) by 157.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,098 shares of the company’s stock after buying an additional 1,893 shares during the quarter. PNC Financial Services Group Inc.’s holdings in PriceSmart were worth $286,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of PSMT. Raymond James Financial Inc. purchased a new position in PriceSmart during the fourth quarter worth about $591,000. Atria Investments Inc lifted its position in shares of PriceSmart by 11.4% during the 4th quarter. Atria Investments Inc now owns 2,488 shares of the company’s stock worth $229,000 after buying an additional 254 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of PriceSmart by 29.6% in the 4th quarter. Victory Capital Management Inc. now owns 29,300 shares of the company’s stock worth $2,701,000 after buying an additional 6,685 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of PriceSmart by 3.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 453,876 shares of the company’s stock valued at $41,834,000 after acquiring an additional 15,359 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its position in shares of PriceSmart by 393.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 715 shares of the company’s stock valued at $65,000 after acquiring an additional 570 shares during the last quarter. 80.46% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded PriceSmart from a “hold” rating to a “buy” rating in a research note on Monday, March 10th.

Insider Activity

In other news, CFO Michael Mccleary sold 4,000 shares of PriceSmart stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $89.67, for a total value of $358,680.00. Following the completion of the transaction, the chief financial officer now directly owns 58,141 shares in the company, valued at approximately $5,213,503.47. The trade was a 6.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Francisco Velasco sold 555 shares of the stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $90.42, for a total value of $50,183.10. Following the sale, the executive vice president now directly owns 79,008 shares in the company, valued at $7,143,903.36. This trade represents a 0.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,162 shares of company stock valued at $1,930,402 over the last quarter. Company insiders own 17.10% of the company’s stock.

PriceSmart Price Performance

Shares of NASDAQ PSMT opened at $83.71 on Friday. The company has a current ratio of 1.26, a quick ratio of 0.43 and a debt-to-equity ratio of 0.08. The stock has a fifty day simple moving average of $89.05 and a two-hundred day simple moving average of $90.18. PriceSmart, Inc. has a 1-year low of $77.51 and a 1-year high of $99.23. The firm has a market cap of $2.57 billion, a price-to-earnings ratio of 18.44 and a beta of 0.84.

PriceSmart (NASDAQ:PSMT) last posted its quarterly earnings results on Wednesday, January 8th. The company reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.22). PriceSmart had a return on equity of 12.29% and a net margin of 2.76%. The firm had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter in the previous year, the company posted $1.24 EPS. The firm’s revenue was up 7.8% compared to the same quarter last year. Analysts anticipate that PriceSmart, Inc. will post 5.28 earnings per share for the current year.

PriceSmart Announces Dividend

The firm also recently declared a dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were given a $0.63 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. PriceSmart’s dividend payout ratio (DPR) is currently 27.75%.

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.