Patterson Companies, Inc. (PDCO) Stake Lessened by AMG Funds LLC

AMG Funds LLC trimmed its position in Patterson Companies, Inc. (NASDAQ:PDCO) by 7.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 44,149 shares of the company’s stock after selling 3,495 shares during the quarter. AMG Funds LLC’s holdings in Patterson Companies were worth $1,595,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Amica Retiree Medical Trust increased its stake in Patterson Companies by 433.8% during the third quarter. Amica Retiree Medical Trust now owns 2,989 shares of the company’s stock worth $116,000 after acquiring an additional 2,429 shares during the last quarter. Advisory Services Network LLC increased its stake in Patterson Companies by 423.4% during the second quarter. Advisory Services Network LLC now owns 2,523 shares of the company’s stock worth $118,000 after acquiring an additional 2,041 shares during the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH bought a new stake in Patterson Companies during the fourth quarter worth approximately $145,000. GHP Investment Advisors Inc. bought a new stake in Patterson Companies during the third quarter worth approximately $212,000. Finally, IFG Advisory LLC bought a new stake in Patterson Companies during the fourth quarter worth approximately $212,000. 95.06% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Patterson Companies, Inc. (NASDAQ:PDCO) opened at $31.75 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.94 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $3,010.66, a P/E ratio of 19.01, a P/E/G ratio of 1.78 and a beta of 0.89. Patterson Companies, Inc. has a twelve month low of $28.77 and a twelve month high of $48.29.

Patterson Companies (NASDAQ:PDCO) last announced its quarterly earnings results on Tuesday, November 21st. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.03). The firm had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Patterson Companies had a net margin of 2.84% and a return on equity of 15.19%. The firm’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.56 EPS. research analysts expect that Patterson Companies, Inc. will post 2.11 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, January 26th. Shareholders of record on Friday, January 12th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Thursday, January 11th. This represents a $1.04 dividend on an annualized basis and a yield of 3.28%. Patterson Companies’s dividend payout ratio is currently 62.28%.

Several brokerages have weighed in on PDCO. BidaskClub cut Patterson Companies from a “hold” rating to a “sell” rating in a research note on Wednesday, January 24th. JPMorgan Chase & Co. lowered Patterson Companies from a “neutral” rating to an “underweight” rating and dropped their target price for the company from $40.00 to $36.00 in a research report on Thursday. Evercore ISI initiated coverage on Patterson Companies in a research report on Thursday, January 4th. They set an “in-line” rating and a $38.50 target price for the company. Robert W. Baird restated a “buy” rating and set a $40.00 target price on shares of Patterson Companies in a research report on Wednesday, November 22nd. Finally, Zacks Investment Research upgraded Patterson Companies from a “sell” rating to a “hold” rating in a research report on Monday, October 23rd. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. Patterson Companies currently has an average rating of “Hold” and an average price target of $39.96.

In related news, Director John D. Buck bought 2,834 shares of the stock in a transaction on Friday, November 24th. The stock was bought at an average price of $34.93 per share, for a total transaction of $98,991.62. Following the completion of the acquisition, the director now directly owns 54,627 shares in the company, valued at $1,908,121.11. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ann B. Gugino sold 750 shares of the company’s stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $36.38, for a total value of $27,285.00. The disclosure for this sale can be found here. 0.46% of the stock is owned by corporate insiders.

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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.

Institutional Ownership by Quarter for Patterson Companies (NASDAQ:PDCO)

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