Patterson Companies, Inc. (PDCO) Position Cut by Davis R M Inc.
Davis R M Inc. cut its stake in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 2.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,545 shares of the company’s stock after selling 225 shares during the period. Davis R M Inc.’s holdings in Patterson Companies were worth $448,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. OLD Mutual Customised Solutions Proprietary Ltd. raised 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 valued at $104,000 after buying an additional 500 shares in the last quarter. Invictus RG purchased a new position in Patterson Companies during the first quarter valued at approximately $119,000. Benjamin F. Edwards & Company Inc. raised 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 valued at $139,000 after buying an additional 698 shares in the last quarter. Nordea Investment Management AB raised 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 valued at $169,000 after buying an additional 1,218 shares in the last quarter. Finally, Moreno Evelyn V purchased a new position in Patterson Companies during the second quarter valued at approximately $202,000. 89.63% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Patterson Companies, Inc. (NASDAQ:PDCO) opened at 39.23 on Tuesday. Patterson Companies, Inc. has a one year low of $36.46 and a one year high of $49.26. The company has a market capitalization of $3.68 billion, a price-to-earnings ratio of 21.92 and a beta of 0.95. The company’s 50 day moving average is $44.99 and its 200 day moving average is $44.27.
Patterson Companies (NASDAQ:PDCO) last issued its quarterly earnings results on Thursday, May 25th. The company reported $0.69 EPS 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 business had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same period last year, the business earned $0.77 earnings per share. The business’s quarterly revenue was down .6% on a year-over-year basis. Equities research analysts predict that Patterson Companies, Inc. will post $2.32 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, July 28th. Shareholders of record on Friday, July 14th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date was Wednesday, July 12th. Patterson Companies’s payout ratio is currently 58.10%.
Several equities analysts have commented on the stock. Zacks Investment Research raised shares of Patterson Companies from a “sell” rating to a “hold” rating in a report on Wednesday, May 31st. Craig Hallum assumed coverage on shares of Patterson Companies in a report on Tuesday, April 11th. They issued a “hold” rating on the stock. Jefferies Group LLC reissued a “hold” rating and issued a $40.00 target price on shares of Patterson Companies in a report on Monday, May 15th. BidaskClub lowered shares of Patterson Companies from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Finally, Stifel Nicolaus lowered shares of Patterson Companies from a “hold” rating to a “sell” rating and decreased their target price for the company from $47.43 to $39.00 in a report on Thursday, July 6th. Six investment analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. Patterson Companies currently has an average rating of “Hold” and a consensus target price of $43.78.
In other Patterson Companies news, insider Ann B. Gugino sold 750 shares of the stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $43.83, for a total transaction of $32,872.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Scott P. Anderson sold 10,000 shares of the stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $46.76, for a total transaction of $467,600.00. The disclosure for this sale can be found here. Insiders have sold 11,500 shares of company stock worth $532,273 over the last quarter. Company 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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