Patterson Cos. (PDCO) Stake Boosted by Quantitative Systematic Strategies LLC
Quantitative Systematic Strategies LLC boosted its stake in shares of Patterson Cos. (NASDAQ:PDCO) by 43.7% during the second quarter, Holdings Channel reports. The institutional investor owned 12,785 shares of the company’s stock after buying an additional 3,886 shares during the period. Quantitative Systematic Strategies LLC’s holdings in Patterson Cos. were worth $608,000 as of its most recent filing with the SEC.
Other hedge funds have also recently modified their holdings of the company. Benjamin F. Edwards & Company Inc. boosted its position in Patterson Cos. by 0.5% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,358 shares of the company’s stock valued at $113,000 after buying an additional 12 shares during the last quarter. Friess Associates LLC bought a new position in Patterson Cos. during the first quarter valued at approximately $151,000. QUANTRES ASSET MANAGEMENT Ltd bought a new position in Patterson Cos. during the second quarter valued at approximately $220,000. Magnetar Financial LLC bought a new position in Patterson Cos. during the first quarter valued at approximately $270,000. Finally, Prudential PLC bought a new position in Patterson Cos. during the first quarter valued at approximately $279,000. Hedge funds and other institutional investors own 77.29% of the company’s stock.
Shares of Patterson Cos. (NASDAQ:PDCO) traded down 0.29% during trading on Thursday, hitting $45.37. 352,122 shares of the stock traded hands. The company has a 50 day moving average of $45.97 and a 200-day moving average of $46.60. Patterson Cos. has a 1-year low of $38.51 and a 1-year high of $50.40. The company has a market cap of $4.33 billion, a PE ratio of 22.37 and a beta of 0.94.
Patterson Cos. (NASDAQ:PDCO) last announced its quarterly earnings results on Thursday, August 25th. The company reported $0.51 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.51. The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.35 billion. Patterson Cos. had a net margin of 3.52% and a return on equity of 17.42%. The business’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.47 EPS. On average, equities analysts anticipate that Patterson Cos. will post $2.67 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, October 14th will be paid a $0.24 dividend. The ex-dividend date is Wednesday, October 12th. This represents a $0.96 annualized dividend and a dividend yield of 2.11%. Patterson Cos.’s dividend payout ratio is presently 47.29%.
PDCO has been the topic of several research analyst reports. Zacks Investment Research cut shares of Patterson Cos. from a “hold” rating to a “sell” rating in a research note on Wednesday, September 14th. Credit Suisse Group AG reissued a “buy” rating and set a $55.00 target price on shares of Patterson Cos. in a research note on Monday, June 27th. Bank of America Corp. initiated coverage on shares of Patterson Cos. in a research note on Wednesday, August 24th. They set an “underperform” rating and a $44.00 target price on the stock. Evercore ISI reissued a “hold” rating and set a $48.00 target price (down previously from $49.00) on shares of Patterson Cos. in a research note on Friday, August 26th. Finally, Off Wall Street initiated coverage on shares of Patterson Cos. in a research note on Monday, August 8th. They set a “sell” rating on the stock. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $48.40.
In other news, insider Ann B. Gugino sold 750 shares of the business’s stock in a transaction on Monday, August 29th. The shares were sold at an average price of $46.22, for a total value of $34,665.00. Following the sale, the insider now owns 40,153 shares in the company, valued at approximately $1,855,871.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.46% of the stock is currently owned by insiders.
About Patterson Cos.
Patterson Companies, Inc is a distributor serving the dental, veterinary and rehabilitation supply markets. The Company operates through three segments: dental supply, veterinary supply and rehabilitation supply. The dental supply segment provides a range of consumable dental products, clinical and laboratory equipment, and value-added services to dentists, dental laboratories, institutions and other dental healthcare providers across North America.
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