4,000 Shares in Patterson Companies, Inc. (NASDAQ:PDCO) Acquired by Palisade Asset Management LLC
Palisade Asset Management LLC bought a new stake in shares of Patterson Companies, Inc. (NASDAQ:PDCO) during the second quarter, Holdings Channel reports. The institutional investor bought 4,000 shares of the company’s stock, valued at approximately $188,000.
Several other institutional investors have also recently bought and sold shares of PDCO. Parnassus Investments CA increased its position in Patterson Companies by 6.1% in the first quarter. Parnassus Investments CA now owns 8,396,864 shares of the company’s stock valued at $370,312,000 after buying an additional 481,947 shares during the last quarter. Vanguard Group Inc. increased its position in Patterson Companies by 2.7% in the first quarter. Vanguard Group Inc. now owns 8,204,738 shares of the company’s stock valued at $371,100,000 after buying an additional 214,691 shares during the last quarter. BlackRock Inc. increased its position in Patterson Companies by 2,886.7% in the first quarter. BlackRock Inc. now owns 6,715,909 shares of the company’s stock valued at $303,760,000 after buying an additional 6,491,048 shares during the last quarter. State Street Corp increased its position in Patterson Companies by 1.8% in the first quarter. State Street Corp now owns 4,180,364 shares of the company’s stock valued at $189,078,000 after buying an additional 75,261 shares during the last quarter. Finally, Fairpointe Capital LLC increased its position in Patterson Companies by 25.7% in the first quarter. Fairpointe Capital LLC now owns 3,494,234 shares of the company’s stock valued at $158,044,000 after buying an additional 713,773 shares during the last quarter. 89.63% of the stock is currently owned by institutional investors.
Shares of Patterson Companies, Inc. (NASDAQ:PDCO) opened at 37.47 on Friday. Patterson Companies, Inc. has a 52 week low of $36.46 and a 52 week high of $49.26. The company has a 50 day moving average price of $43.35 and a 200 day moving average price of $44.10. The company has a market capitalization of $3.52 billion, a PE ratio of 20.93 and a beta of 0.95.
Patterson Companies (NASDAQ:PDCO) last released its quarterly earnings data on Thursday, May 25th. The company reported $0.69 earnings per share 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 during the quarter, compared to analyst estimates of $1.46 billion. During the same period in the previous year, the business earned $0.77 EPS. Patterson Companies’s revenue was down .6% compared to the same quarter last year. On average, equities research analysts expect that Patterson Companies, Inc. will post $2.32 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 28th. Investors of record on Friday, July 14th were paid a $0.26 dividend. The ex-dividend date was Wednesday, July 12th. This represents a $1.04 dividend on an annualized basis and a yield of 2.78%. Patterson Companies’s dividend payout ratio is 58.10%.
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Several equities analysts have recently commented on PDCO shares. Credit Suisse Group reaffirmed an “outperform” rating and issued a $50.00 target price (up previously from $45.00) on shares of Patterson Companies in a research report on Thursday, July 13th. BidaskClub raised Patterson Companies from a “hold” rating to a “buy” rating in a research report on Thursday, June 15th. Zacks Investment Research cut 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 issued a $40.00 price target on shares of Patterson Companies in a research note on Friday, May 5th. Finally, Stifel Nicolaus cut Patterson Companies from a “hold” rating to a “sell” rating and cut their price target for the company from $47.43 to $39.00 in a research note on Thursday, July 6th. Six analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $43.78.
In related news, insider Ann B. Gugino sold 750 shares of Patterson Companies stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $43.83, for a total value of $32,872.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Scott P. Anderson sold 10,000 shares of Patterson Companies 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 sold a total of 11,500 shares of company stock valued at $532,273 over the last quarter. 0.46% of the stock is owned by company insiders.
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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