Northern Trust Corp grew its stake in PriceSmart, Inc. (NASDAQ:PSMT) by 2.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 341,337 shares of the company’s stock after acquiring an additional 9,283 shares during the quarter. Northern Trust Corp owned 1.12% of PriceSmart worth $30,891,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. UBS Group AG lifted its position in shares of PriceSmart by 14.2% in the 1st quarter. UBS Group AG now owns 26,727 shares of the company’s stock worth $2,233,000 after buying an additional 3,326 shares during the last quarter. Barclays PLC increased its holdings in shares of PriceSmart by 29.3% in the 1st quarter. Barclays PLC now owns 4,597 shares of the company’s stock worth $384,000 after acquiring an additional 1,041 shares during the period. Xact Kapitalforvaltning AB increased its holdings in shares of PriceSmart by 56.0% in the 1st quarter. Xact Kapitalforvaltning AB now owns 4,458 shares of the company’s stock worth $372,000 after acquiring an additional 1,600 shares during the period. Suntrust Banks Inc. increased its holdings in shares of PriceSmart by 27.3% in the 1st quarter. Suntrust Banks Inc. now owns 43,253 shares of the company’s stock worth $3,612,000 after acquiring an additional 9,283 shares during the period. Finally, Mount Yale Investment Advisors LLC acquired a new stake in shares of PriceSmart in the 1st quarter worth about $126,000. 75.90% of the stock is owned by institutional investors.
A number of analysts recently weighed in on PSMT shares. BidaskClub cut shares of PriceSmart from a “buy” rating to a “hold” rating in a report on Thursday, October 4th. ValuEngine raised shares of PriceSmart from a “sell” rating to a “hold” rating in a research note on Thursday, July 26th. Zacks Investment Research raised shares of PriceSmart from a “strong sell” rating to a “hold” rating in a research note on Monday, September 10th. TheStreet cut shares of PriceSmart from a “b-” rating to a “c+” rating in a research note on Thursday, August 2nd. Finally, Scotiabank set a $86.00 price objective on shares of PriceSmart and gave the company a “hold” rating in a research report on Wednesday, July 11th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $90.50.
Shares of PSMT opened at $71.38 on Wednesday. PriceSmart, Inc. has a one year low of $67.02 and a one year high of $94.45. The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of 29.37 and a beta of 1.09. The company has a quick ratio of 0.48, a current ratio of 1.40 and a debt-to-equity ratio of 0.12.
In related news, Director Robert E. Price sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $85.87, for a total transaction of $858,700.00. Following the completion of the sale, the director now directly owns 80 shares in the company, valued at $6,869.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders have sold 60,000 shares of company stock valued at $4,787,500. 28.00% of the stock is currently owned by corporate insiders.
PriceSmart, Inc owns and operates the U.S.-style membership shopping warehouse clubs in Latin America and the Caribbean. The company's warehouse clubs offer brand name and private label consumer goods to individuals and businesses. As of May 7, 2017, it operated 41 warehouse clubs comprising 7 each in Colombia and Costa Rica; 5 in Panama; 4 each in Trinidad and Dominican Republic; 3 each in Guatemala and Honduras; 2 each in El Salvador and Nicaragua; and 1 each in Aruba, Barbados, Jamaica, and the United States Virgin Islands.
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