Norges Bank Makes New $3.57 Million Investment in PriceSmart, Inc. (NASDAQ:PSMT)

Norges Bank acquired 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 SEC. The fund acquired 38,695 shares of the company's stock, valued at approximately $3,567,000. Norges Bank owned about 0.13% of PriceSmart at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the stock. American Century Companies Inc. increased its position in PriceSmart by 4.1% during the fourth quarter. American Century Companies Inc. now owns 1,230,696 shares of the company's stock worth $113,434,000 after buying an additional 48,108 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of PriceSmart by 3.8% during the third quarter. Geode Capital Management LLC now owns 684,870 shares of the company's stock valued at $62,868,000 after acquiring an additional 25,216 shares during the last quarter. Copeland Capital Management LLC increased its position in PriceSmart by 29.2% during the 4th quarter. Copeland Capital Management LLC now owns 621,697 shares of the company's stock worth $57,302,000 after purchasing an additional 140,515 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in PriceSmart by 3.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 453,876 shares of the company's stock valued at $41,834,000 after purchasing an additional 15,359 shares during the last quarter. Finally, Boston Partners lifted its holdings in PriceSmart by 4,690.8% in the 4th quarter. Boston Partners now owns 297,655 shares of the company's stock valued at $27,344,000 after purchasing an additional 291,442 shares in the last quarter. 80.46% of the stock is currently owned by institutional investors and hedge funds.

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PriceSmart Trading Down 0.0 %

Shares of PSMT stock traded down $0.04 during mid-day trading on Wednesday, hitting $91.55. 14,245 shares of the company's stock were exchanged, compared to its average volume of 182,332. The stock has a market cap of $2.82 billion, a price-to-earnings ratio of 20.15 and a beta of 0.87. The company has a quick ratio of 0.43, a current ratio of 1.26 and a debt-to-equity ratio of 0.08. PriceSmart, Inc. has a fifty-two week low of $77.51 and a fifty-two week high of $99.23. The stock has a 50-day simple moving average of $87.97 and a two-hundred day simple moving average of $90.01.

PriceSmart (NASDAQ:PSMT - Get Free Report) last issued its quarterly earnings results on Wednesday, April 9th. The company reported $1.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.51 by ($0.06). PriceSmart had a return on equity of 12.29% and a net margin of 2.76%. The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same period in the previous year, the business posted $1.31 earnings per share. The firm's quarterly revenue was up 5.6% on a year-over-year basis. Equities analysts expect that PriceSmart, Inc. will post 5.28 EPS for the current fiscal year.

PriceSmart Announces Dividend

The business also recently disclosed a dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were paid a dividend of $0.63 per share. The ex-dividend date was Tuesday, February 18th. PriceSmart's dividend payout ratio is presently 26.92%.

Wall Street Analyst Weigh In

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

Insider Transactions at PriceSmart

In other news, Director Jeffrey Fisher sold 1,700 shares of the business's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $95.00, for a total transaction of $161,500.00. Following the completion of the sale, the director now owns 16,911 shares in the company, valued at approximately $1,606,545. The trade was a 9.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO John D. Hildebrandt sold 8,020 shares of PriceSmart stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $90.51, for a total transaction of $725,890.20. Following the transaction, the chief operating officer now directly owns 123,547 shares in the company, valued at approximately $11,182,238.97. This trade represents a 6.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,055 shares of company stock worth $1,833,849 in the last ninety days. Insiders own 17.10% of the company's stock.

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.