Cinctive Capital Management LP Acquires 4,530 Shares of PriceSmart, Inc. $PSMT

Cinctive Capital Management LP boosted its holdings in PriceSmart, Inc. (NASDAQ:PSMT) by 4.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 115,799 shares of the company’s stock after purchasing an additional 4,530 shares during the quarter. Cinctive Capital Management LP owned about 0.37% of PriceSmart worth $14,034,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in PSMT. Pertento Partners LLP bought a new stake in shares of PriceSmart in the 2nd quarter worth approximately $42,224,000. Invesco Ltd. grew its stake in shares of PriceSmart by 54.7% in the 2nd quarter. Invesco Ltd. now owns 551,566 shares of the company’s stock worth $57,936,000 after buying an additional 194,980 shares during the last quarter. Boston Trust Walden Corp bought a new position in PriceSmart during the 3rd quarter valued at approximately $21,915,000. Victory Capital Management Inc. raised its stake in PriceSmart by 37.0% during the third quarter. Victory Capital Management Inc. now owns 651,499 shares of the company’s stock valued at $78,955,000 after buying an additional 175,806 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in PriceSmart by 7.7% during the second quarter. American Century Companies Inc. now owns 1,401,706 shares of the company’s stock valued at $147,236,000 after buying an additional 100,785 shares during the last quarter. Institutional investors own 80.46% of the company’s stock.

PriceSmart Price Performance

Shares of PSMT opened at $148.77 on Friday. PriceSmart, Inc. has a twelve month low of $81.25 and a twelve month high of $158.01. The company has a market capitalization of $4.59 billion, a P/E ratio of 30.36 and a beta of 0.73. The firm has a 50 day moving average of $146.45 and a 200 day moving average of $129.20. The company has a quick ratio of 0.55, a current ratio of 1.33 and a debt-to-equity ratio of 0.11.

PriceSmart (NASDAQ:PSMT) last released its quarterly earnings data on Wednesday, January 7th. The company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.01. PriceSmart had a return on equity of 12.20% and a net margin of 2.79%.The business had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same period in the prior year, the firm posted $1.21 EPS. The firm’s quarterly revenue was up 9.9% on a year-over-year basis. As a group, equities research analysts anticipate that PriceSmart, Inc. will post 5.28 earnings per share for the current fiscal year.

PriceSmart Dividend Announcement

The firm also recently declared a dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 17th will be issued a dividend of $0.70 per share. This represents a dividend yield of 89.0%. The ex-dividend date of this dividend is Monday, August 17th. PriceSmart’s dividend payout ratio is presently 28.57%.

Insiders Place Their Bets

In related news, Director Beatriz V. Infante sold 1,995 shares of the stock in a transaction on Monday, January 12th. The stock was sold at an average price of $136.87, for a total transaction of $273,055.65. Following the sale, the director directly owned 10,879 shares of the company’s stock, valued at $1,489,008.73. This trade represents a 15.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Paul Kovaleski sold 4,255 shares of the business’s stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $136.86, for a total value of $582,339.30. Following the completion of the transaction, the executive vice president directly owned 38,854 shares of the company’s stock, valued at approximately $5,317,558.44. This trade represents a 9.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 16,671 shares of company stock valued at $2,283,051. 17.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Wall Street Zen cut PriceSmart from a “buy” rating to a “hold” rating in a research note on Sunday, January 11th. Weiss Ratings raised PriceSmart from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, PriceSmart presently has a consensus rating of “Strong Buy”.

PriceSmart Profile

PriceSmart, Inc (NASDAQ: PSMT) is a U.S.-based retailer specializing in membership warehouse clubs. Founded in 1993, the company operates under a business model that offers bulk quantities of goods at discounted prices to individuals and businesses that purchase annual memberships. PriceSmart’s value proposition centers on low-cost operations, high-volume purchasing, and a no-frills shopping environment designed to pass savings directly to its members.

The company’s product assortment covers a broad range of merchandise categories, including groceries and fresh produce, household essentials, electronics, appliances, office supplies, furniture, and health and beauty items.