KLP Kapitalforvaltning AS Makes New Investment in PriceSmart, Inc. (NASDAQ:PSMT)

KLP Kapitalforvaltning AS purchased a new position in shares of PriceSmart, Inc. (NASDAQ:PSMT - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,500 shares of the company's stock, valued at approximately $507,000.

A number of other large investors also recently modified their holdings of PSMT. Cerity Partners LLC increased its position in PriceSmart by 13.1% during the 3rd quarter. Cerity Partners LLC now owns 5,560 shares of the company's stock worth $510,000 after purchasing an additional 644 shares in the last quarter. FMR LLC increased its position in shares of PriceSmart by 5.9% in the third quarter. FMR LLC now owns 1,182,739 shares of the company's stock worth $108,552,000 after acquiring an additional 65,492 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of PriceSmart by 1.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,096 shares of the company's stock valued at $4,873,000 after acquiring an additional 503 shares during the period. Verition Fund Management LLC acquired a new position in shares of PriceSmart during the 3rd quarter valued at $312,000. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in PriceSmart during the 3rd quarter worth $1,335,000. 80.46% of the stock is currently owned by hedge funds and other institutional investors.

PriceSmart Stock Down 2.0 %

PriceSmart stock traded down $1.68 during midday trading on Tuesday, hitting $82.12. 381,470 shares of the company were exchanged, compared to its average volume of 181,279. The company has a market cap of $2.52 billion, a PE ratio of 18.09 and a beta of 0.87. PriceSmart, Inc. has a fifty-two week low of $77.51 and a fifty-two week high of $99.23. The company's fifty day moving average price is $88.17 and its 200-day moving average price is $89.99. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.26 and a quick ratio of 0.43.

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PriceSmart (NASDAQ:PSMT - Get Free Report) last posted its earnings results on Wednesday, January 8th. The company reported $1.21 EPS for the quarter, missing analysts' consensus estimates of $1.43 by ($0.22). The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.24 billion. PriceSmart had a return on equity of 12.29% and a net margin of 2.76%. The company's revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.24 earnings per share. On average, research analysts predict that PriceSmart, Inc. will post 5.28 EPS for the current fiscal year.

PriceSmart Dividend Announcement

The company also recently disclosed a dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were given a $0.63 dividend. The ex-dividend date was Tuesday, February 18th. PriceSmart's payout ratio is currently 27.75%.

Insider Activity

In other news, Director Gordon H. Hanson sold 1,107 shares of the firm's stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $87.22, for a total transaction of $96,552.54. Following the completion of the sale, the director now owns 6,862 shares of the company's stock, valued at approximately $598,503.64. This trade represents a 13.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Francisco Velasco sold 555 shares of PriceSmart stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $90.42, for a total transaction of $50,183.10. Following the completion of the sale, the executive vice president now owns 79,008 shares of the company's stock, valued at approximately $7,143,903.36. This trade represents a 0.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,162 shares of company stock worth $1,930,402 over the last ninety days. Corporate insiders own 17.10% of the company's stock.

Analysts Set New Price Targets

Separately, StockNews.com raised PriceSmart from a "hold" rating to a "buy" rating in a research report on Monday, March 10th.

About PriceSmart

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.