Bank of Montreal Can boosted its stake in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 7.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 37,044 shares of the company’s stock after buying an additional 2,539 shares during the period. Bank of Montreal Can’s holdings in Patterson Companies were worth $1,740,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of the stock. OLD Mutual Customised Solutions Proprietary Ltd. boosted its position in Patterson Companies by 27.8% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,300 shares of the company’s stock worth $104,000 after buying an additional 500 shares in the last quarter. Invictus RG bought a new position in Patterson Companies during the first quarter worth approximately $119,000. Benjamin F. Edwards & Company Inc. boosted its position in Patterson Companies by 29.3% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 3,079 shares of the company’s stock worth $139,000 after buying an additional 698 shares in the last quarter. Nordea Investment Management AB boosted its position in Patterson Companies by 48.4% in the first quarter. Nordea Investment Management AB now owns 3,735 shares of the company’s stock worth $169,000 after buying an additional 1,218 shares in the last quarter. Finally, Ashfield Capital Partners LLC bought a new position in Patterson Companies during the first quarter worth approximately $213,000. 89.34% of the stock is owned by institutional investors.
Shares of Patterson Companies, Inc. (PDCO) traded down 2.69% during midday trading on Tuesday, hitting $36.88. 615,291 shares of the stock were exchanged. The firm has a market cap of $3.46 billion, a PE ratio of 20.60 and a beta of 0.95. Patterson Companies, Inc. has a 52-week low of $36.46 and a 52-week high of $49.26. The firm’s 50-day moving average is $42.79 and its 200 day moving average is $44.08.
Patterson Companies (NASDAQ:PDCO) last posted its earnings results on Thursday, May 25th. The company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.04. Patterson Companies had a net margin of 3.06% and a return on equity of 15.94%. The firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same period last year, the firm posted $0.77 earnings per share. Patterson Companies’s revenue for the quarter was down .6% compared to the same quarter last year. On average, analysts forecast that Patterson Companies, Inc. will post $2.32 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 28th. Investors of record on Friday, July 14th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date was Wednesday, July 12th. Patterson Companies’s dividend payout ratio (DPR) is presently 58.10%.
PDCO has been the subject of a number of research reports. Stifel Nicolaus cut shares of Patterson Companies from a “hold” rating to a “sell” rating and cut their price target for the stock from $47.43 to $39.00 in a research note on Thursday, July 6th. Zacks Investment Research cut shares of Patterson Companies from a “buy” rating to a “hold” rating in a research note on Monday, May 15th. BidaskClub cut shares of Patterson Companies from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. UBS AG cut shares of Patterson Companies from a “neutral” rating to a “sell” rating and cut their price target for the stock from $44.50 to $40.00 in a research note on Tuesday, July 11th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $40.00 price target on shares of Patterson Companies in a research note on Monday, May 15th. Six analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. Patterson Companies currently has a consensus rating of “Hold” and an average price target of $43.22.
In related news, Director Scott P. Anderson sold 10,000 shares of the firm’s 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ann B. Gugino sold 750 shares of the firm’s stock in a transaction on Tuesday, July 11th. The shares were sold at an average price of $42.40, for a total transaction of $31,800.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,500 shares of company stock valued at $532,273. 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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