Patterson Companies, Inc. (PDCO) Stake Boosted by Jarislowsky Fraser Ltd
Jarislowsky Fraser Ltd boosted its position in Patterson Companies, Inc. (NASDAQ:PDCO) by 0.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,321 shares of the company’s stock after buying an additional 42 shares during the period. Jarislowsky Fraser Ltd’s holdings in Patterson Companies were worth $672,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Patterson Companies by 2,886.7% in the first quarter. BlackRock Inc. now owns 6,715,909 shares of the company’s stock worth $303,760,000 after buying an additional 6,491,048 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of Patterson Companies during the first quarter worth $128,254,000. Norges Bank bought a new stake in shares of Patterson Companies during the fourth quarter worth $37,738,000. Fairpointe Capital LLC increased its stake in shares of Patterson Companies by 25.7% in the first quarter. Fairpointe Capital LLC now owns 3,494,234 shares of the company’s stock worth $158,044,000 after buying an additional 713,773 shares in the last quarter. Finally, Shapiro Capital Management LLC increased its stake in shares of Patterson Companies by 81.1% in the first quarter. Shapiro Capital Management LLC now owns 1,433,460 shares of the company’s stock worth $64,835,000 after buying an additional 642,050 shares in the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Patterson Companies, Inc. (NASDAQ PDCO) traded down 0.14% on Thursday, hitting $42.96. 32,985 shares of the stock traded hands. The firm has a market cap of $4.03 billion, a PE ratio of 24.00 and a beta of 0.98. The firm has a 50 day moving average price of $45.95 and a 200 day moving average price of $44.23. Patterson Companies, Inc. has a 52-week low of $36.46 and a 52-week high of $49.83.
Patterson Companies (NASDAQ:PDCO) last issued its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $1.46 billion. Patterson Companies had a return on equity of 15.94% and a net margin of 3.06%. The company’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 EPS. On average, equities analysts forecast that Patterson Companies, Inc. will post $2.32 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 28th. Stockholders of record on Friday, July 14th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, July 12th. This represents a $1.04 annualized dividend and a dividend yield of 2.42%. Patterson Companies’s dividend payout ratio (DPR) is 58.10%.
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PDCO has been the topic of several research reports. Jefferies Group LLC reissued a “hold” rating and set a $40.00 price target on shares of Patterson Companies in a research note on Wednesday, March 29th. Craig Hallum initiated coverage on shares of Patterson Companies in a research note on Tuesday, April 11th. They set a “hold” rating on the stock. Zacks Investment Research raised shares of Patterson Companies from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research note on Tuesday, May 2nd. BidaskClub raised shares of Patterson Companies from a “hold” rating to a “buy” rating in a research note on Thursday, June 15th. Finally, Stifel Nicolaus downgraded shares of Patterson Companies from a “hold” rating to a “sell” rating and decreased their price target for the stock from $47.43 to $39.00 in a research note on Thursday, July 6th. Five analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $43.78.
In related news, Director Scott P. Anderson sold 10,000 shares of the stock in a transaction 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 SEC, which is accessible through this hyperlink. Also, insider Ann B. Gugino sold 750 shares of the stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $43.83, for a total value of $32,872.50. The disclosure for this sale can be found here. Insiders have sold a total of 11,500 shares of company stock worth $532,273 over the last ninety days. Insiders own 0.46% of the company’s stock.
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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