Boston Financial Mangement LLC increased its stake in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 3.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 227,468 shares of the company’s stock after buying an additional 7,708 shares during the period. Boston Financial Mangement LLC owned approximately 0.24% of Patterson Companies worth $10,680,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Jarislowsky Fraser Ltd raised its position in shares of Patterson Companies by 0.3% in the second quarter. Jarislowsky Fraser Ltd now owns 14,321 shares of the company’s stock valued at $672,000 after buying an additional 42 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its position in Patterson Companies by 0.7% in the first quarter. Nomura Asset Management Co. Ltd. now owns 10,520 shares of the company’s stock worth $476,000 after buying an additional 70 shares in the last quarter. Meeder Asset Management Inc. raised its position in Patterson Companies by 0.6% in the second quarter. Meeder Asset Management Inc. now owns 20,363 shares of the company’s stock worth $956,000 after buying an additional 112 shares in the last quarter. LS Investment Advisors LLC increased its stake in shares of Patterson Companies by 1.4% in the first quarter. LS Investment Advisors LLC now owns 9,631 shares of the company’s stock worth $436,000 after buying an additional 134 shares during the last quarter. Finally, Teton Advisors Inc. increased its stake in shares of Patterson Companies by 0.5% in the first quarter. Teton Advisors Inc. now owns 29,404 shares of the company’s stock worth $1,330,000 after buying an additional 141 shares during the last quarter. 89.34% of the stock is currently owned by institutional investors.
Shares of Patterson Companies, Inc. (PDCO) opened at 36.76 on Friday. Patterson Companies, Inc. has a 52-week low of $36.46 and a 52-week high of $49.26. The company’s 50-day moving average is $41.86 and its 200 day moving average is $43.95. The firm has a market capitalization of $3.45 billion, a P/E ratio of 20.54 and a beta of 0.95.
Patterson Companies (NASDAQ:PDCO) last issued its earnings results on Thursday, May 25th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.04. The business had revenue of $1.45 billion during 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 quarter in the prior year, the firm earned $0.77 earnings per share. Analysts expect that Patterson Companies, Inc. will post $2.32 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 28th. Stockholders of record on Friday, July 14th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date was Wednesday, July 12th. Patterson Companies’s dividend payout ratio (DPR) is presently 58.10%.
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PDCO has been the topic of a number of analyst reports. Credit Suisse Group reiterated an “outperform” rating and set a $50.00 price objective (up from $45.00) on shares of Patterson Companies in a research note on Thursday, July 13th. BidaskClub upgraded shares of Patterson Companies from a “hold” rating to a “buy” rating in a research note on Thursday, June 15th. Zacks Investment Research downgraded shares of Patterson Companies from a “buy” rating to a “hold” rating in a research note on Monday, May 15th. Jefferies Group LLC reiterated a “hold” rating and set a $40.00 price objective on shares of Patterson Companies in a research note on Friday, May 5th. Finally, Stifel Nicolaus downgraded shares of Patterson Companies from a “hold” rating to a “sell” rating and reduced their price target for the company from $47.43 to $39.00 in a research note on Thursday, July 6th. Seven investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $43.00.
In other news, Director Scott P. Anderson sold 10,000 shares of the stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $46.76, for a total transaction of $467,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ann B. Gugino sold 750 shares of the stock in a transaction that occurred on 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. In the last three months, insiders have sold 11,500 shares of company stock valued at $532,273. Insiders own 0.46% of the company’s stock.
About Patterson Companies
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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