PSMT

Jefferies Initiates Coverage of Pricesmart (PSMT) with Buy Recommendation

Fintel reports that on December 1, 2023, Jefferies initiated coverage of Pricesmart (NASDAQ:PSMT) with a Buy recommendation.

Analyst Price Forecast Suggests 30.17% Upside

As of November 27, 2023, the average one-year price target for Pricesmart is 87.72. The forecasts range from a low of 82.82 to a high of $94.50. The average price target represents an increase of 30.17% from its latest reported closing price of 67.39.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Pricesmart is 4,707MM, an increase of 6.69%. The projected annual non-GAAP EPS is 4.19.

What is the Fund Sentiment?

There are 534 funds or institutions reporting positions in Pricesmart. This is an increase of 18 owner(s) or 3.49% in the last quarter. Average portfolio weight of all funds dedicated to PSMT is 0.12%, an increase of 3.76%. Total shares owned by institutions decreased in the last three months by 2.51% to 26,854K shares. PSMT / Pricesmart Inc. Put/Call Ratios The put/call ratio of PSMT is 0.43, indicating a bullish outlook.

What are Other Shareholders Doing?

PSMT / Pricesmart Inc. Shares Held by Institutions

EdgePoint Investment Group holds 2,672K shares representing 8.96% ownership of the company. In it's prior filing, the firm reported owning 2,654K shares, representing an increase of 0.67%. The firm increased its portfolio allocation in PSMT by 7.55% over the last quarter.

Kayne Anderson Rudnick Investment Management holds 2,272K shares representing 7.62% ownership of the company. In it's prior filing, the firm reported owning 2,576K shares, representing a decrease of 13.37%. The firm decreased its portfolio allocation in PSMT by 37.66% over the last quarter.

IJR - iShares Core S&P Small-Cap ETF holds 1,740K shares representing 5.84% ownership of the company. In it's prior filing, the firm reported owning 1,761K shares, representing a decrease of 1.17%. The firm increased its portfolio allocation in PSMT by 3.05% over the last quarter.

Black Creek Investment Management holds 1,641K shares representing 5.50% ownership of the company. In it's prior filing, the firm reported owning 1,644K shares, representing a decrease of 0.16%. The firm increased its portfolio allocation in PSMT by 4.38% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 774K shares representing 2.60% ownership of the company. In it's prior filing, the firm reported owning 773K shares, representing an increase of 0.14%. The firm increased its portfolio allocation in PSMT by 4.46% over the last quarter.

Pricesmart Background Information
(This description is provided by the company.)

PriceSmart, headquartered in San Diego, owns and operates U.S.-style membership shopping warehouse clubs in Latin America and the Caribbean, selling high quality merchandise and services at low prices to PriceSmart Members. PriceSmart operates 47 warehouse clubs in 12 countries and one U.S. territory (eight in Costa Rica and Colombia; seven in Panama; five in the Dominican Republic, four in Trinidad and Guatemala; three in Honduras; two each in El Salvador and Nicaragua; and one each in Aruba, Barbados, Jamaica and the United States Virgin Islands). The Company also plans to open new warehouse clubs in Guatemala City, Guatemala and Bucaramanga, Colombia in the fall of 2021, and in Portmore, Jamaica in the spring of 2022. Once these three new clubs are open, the Company will operate 50 warehouse clubs.

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This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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