Moreno Evelyn V purchased a new position in shares of Patterson Companies, Inc. (NASDAQ:PDCO) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,300 shares of the company’s stock, valued at approximately $202,000.
Several other hedge funds have also recently made changes to their positions in the stock. Bank of Montreal Can increased its stake in shares of Patterson Companies by 4.4% in the first quarter. Bank of Montreal Can now owns 34,505 shares of the company’s stock valued at $1,563,000 after buying an additional 1,463 shares during the period. Fenimore Asset Management Inc. increased its stake in shares of Patterson Companies by 0.6% in the first quarter. Fenimore Asset Management Inc. now owns 996,115 shares of the company’s stock valued at $45,054,000 after buying an additional 6,350 shares during the period. Gulf International Bank UK Ltd increased its stake in shares of Patterson Companies by 2.6% in the first quarter. Gulf International Bank UK Ltd now owns 27,634 shares of the company’s stock valued at $1,249,000 after buying an additional 700 shares during the period. Creative Planning increased its stake in shares of Patterson Companies by 3.6% in the first quarter. Creative Planning now owns 16,015 shares of the company’s stock valued at $724,000 after buying an additional 551 shares during the period. Finally, New England Research & Management Inc. increased its stake in shares of Patterson Companies by 4.3% in the first quarter. New England Research & Management Inc. now owns 15,918 shares of the company’s stock valued at $720,000 after buying an additional 650 shares during the period. Institutional investors and hedge funds own 90.20% of the company’s stock.
Shares of Patterson Companies, Inc. (NASDAQ:PDCO) traded down 0.56% during trading on Tuesday, hitting $42.76. 367,365 shares of the stock traded hands. The company has a 50-day moving average of $45.68 and a 200-day moving average of $44.24. Patterson Companies, Inc. has a 52 week low of $36.46 and a 52 week high of $49.69. The firm has a market cap of $4.01 billion, a P/E ratio of 23.89 and a beta of 0.97.
Patterson Companies (NASDAQ:PDCO) last issued its earnings results on Thursday, May 25th. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.04. The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.46 billion. Patterson Companies had a return on equity of 15.94% and a net margin of 3.06%. Patterson Companies’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.77 earnings per share. On average, analysts forecast that Patterson Companies, Inc. will post $2.32 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 28th. Investors of record on Friday, July 14th will be given a $0.26 dividend. 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 payout ratio is currently 58.10%.
Several brokerages have commented on PDCO. Credit Suisse Group restated an “outperform” rating and set a $50.00 target price (up from $45.00) on shares of Patterson Companies in a report on Thursday, July 13th. Jefferies Group LLC restated a “hold” rating and set a $40.00 target price on shares of Patterson Companies in a report 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 report on Tuesday, May 2nd. UBS AG downgraded shares of Patterson Companies from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $44.50 to $40.00 in a report on Tuesday, July 11th. Finally, BidaskClub downgraded shares of Patterson Companies from a “buy” rating to a “hold” rating in a report on Saturday, July 8th. Five investment analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $43.78.
In related news, insider Ann B. Gugino sold 750 shares of the stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $43.83, for a total value of $32,872.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Scott P. Anderson sold 10,000 shares of the stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $46.76, for a total value of $467,600.00. The disclosure for this sale can be found here. Insiders sold a total of 11,500 shares of company stock valued at $532,273 over the last three months. 0.46% of the stock is currently owned by 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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