Janus Capital Management LLC cut its position in Patterson Companies, Inc. (NASDAQ:PDCO) by 79.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 29,197 shares of the company’s stock after selling 113,653 shares during the period. Janus Capital Management LLC’s holdings in Patterson Companies were worth $1,321,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of PDCO. Bank of Montreal Can increased its position in Patterson Companies by 4.4% in the first quarter. Bank of Montreal Can now owns 34,505 shares of the company’s stock worth $1,563,000 after buying an additional 1,463 shares during the last quarter. Fenimore Asset Management Inc. increased its position in Patterson Companies by 0.6% in the first quarter. Fenimore Asset Management Inc. now owns 996,115 shares of the company’s stock worth $45,054,000 after buying an additional 6,350 shares during the last quarter. Gulf International Bank UK Ltd increased its position in Patterson Companies by 2.6% in the first quarter. Gulf International Bank UK Ltd now owns 27,634 shares of the company’s stock worth $1,249,000 after buying an additional 700 shares during the last quarter. Creative Planning increased its position in Patterson Companies by 3.6% in the first quarter. Creative Planning now owns 16,015 shares of the company’s stock worth $724,000 after buying an additional 551 shares during the last quarter. Finally, New England Research & Management Inc. increased its position in Patterson Companies by 4.3% in the first quarter. New England Research & Management Inc. now owns 15,918 shares of the company’s stock worth $720,000 after buying an additional 650 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors.
Patterson Companies, Inc. (NASDAQ:PDCO) opened at 43.02 on Thursday. Patterson Companies, Inc. has a 1-year low of $36.46 and a 1-year high of $49.83. The stock has a market capitalization of $4.04 billion, a price-to-earnings ratio of 24.03 and a beta of 0.98. The firm’s 50-day moving average is $45.95 and its 200 day moving average is $44.23.
Patterson Companies (NASDAQ:PDCO) last announced its earnings results on Thursday, May 25th. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.04. Patterson Companies had a return on equity of 15.94% and a net margin of 3.06%. The company had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period last year, the business posted $0.77 EPS. Patterson Companies’s revenue for the quarter was down .6% on a year-over-year basis. Equities analysts anticipate that Patterson Companies, Inc. will post $2.32 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 28th. Investors of record on Friday, July 14th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend is Wednesday, July 12th. Patterson Companies’s dividend payout ratio (DPR) is 58.10%.
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A number of research firms recently issued reports on PDCO. Stifel Nicolaus downgraded shares of Patterson Companies from a “hold” rating to a “sell” rating and dropped their price objective for the stock from $47.43 to $39.00 in a report on Thursday, July 6th. BidaskClub upgraded shares of Patterson Companies from a “hold” rating to a “buy” rating in a research note on Thursday, June 15th. Jefferies Group LLC restated a “hold” rating and set a $40.00 target price on shares of Patterson Companies in a research note on Friday, May 5th. Zacks Investment Research upgraded shares of Patterson Companies from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research note on Tuesday, May 2nd. Finally, Craig Hallum began coverage on shares of Patterson Companies in a research note on Tuesday, April 11th. They set a “hold” rating on the stock. Five investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. Patterson Companies has an average rating of “Hold” and a consensus price target of $43.78.
In related news, Director Scott P. Anderson sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $46.76, for a total transaction of $467,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ann B. Gugino sold 750 shares of the firm’s stock in a transaction dated Tuesday, July 11th. The shares were sold at an average price of $42.40, for a total value of $31,800.00. The disclosure for this sale can be found here. Insiders have sold a total of 11,500 shares of company stock valued at $532,273 over the last 90 days. 0.46% of the stock is currently owned by company insiders.
Patterson Companies Company Profile
Patterson Companies, Inc is a value-added distributor focused on providing a customer experience to professionals in the dental and animal health markets. The Company operates through three segments: dental, animal health and corporate. Dental and Animal health are strategic business units that offer similar products and services to different customer bases.
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