IMS Capital Management cut its position in Patterson Companies, Inc. (NASDAQ:PDCO) by 17.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,294 shares of the company’s stock after selling 7,199 shares during the period. Patterson Companies accounts for about 1.5% of IMS Capital Management’s holdings, making the stock its 11th largest position. IMS Capital Management’s holdings in Patterson Companies were worth $1,563,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Teachers Advisors LLC raised its stake in shares of Patterson Companies by 11.7% in the fourth quarter. Teachers Advisors LLC now owns 106,670 shares of the company’s stock worth $4,377,000 after buying an additional 11,214 shares during the last quarter. Macquarie Group Ltd. raised its stake in shares of Patterson Companies by 16.7% in the fourth quarter. Macquarie Group Ltd. now owns 103,674 shares of the company’s stock worth $4,253,000 after buying an additional 14,800 shares during the last quarter. Chevy Chase Trust Holdings Inc. raised its stake in shares of Patterson Companies by 1.8% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 72,136 shares of the company’s stock worth $3,263,000 after buying an additional 1,257 shares during the last quarter. Creative Planning raised its stake in shares of Patterson Companies by 3.6% in the first quarter. Creative Planning now owns 16,015 shares of the company’s stock worth $724,000 after buying an additional 551 shares during the last quarter. Finally, Gulf International Bank UK Ltd raised its stake in shares of Patterson Companies by 2.6% in the first quarter. Gulf International Bank UK Ltd now owns 27,634 shares of the company’s stock worth $1,249,000 after buying an additional 700 shares during the last quarter. 89.34% of the stock is currently owned by hedge funds and other institutional investors.

Patterson Companies, Inc. (PDCO) opened at 36.75 on Wednesday. The firm has a market capitalization of $3.45 billion, a price-to-earnings ratio of 20.53 and a beta of 0.95. Patterson Companies, Inc. has a 1-year low of $36.46 and a 1-year high of $49.26. The stock has a 50 day moving average price of $42.47 and a 200 day moving average price of $44.05.

Patterson Companies (NASDAQ:PDCO) last issued its 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 return on equity of 15.94% and a net margin of 3.06%. The firm had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the previous year, the company posted $0.77 earnings per share. The business’s quarterly revenue was down .6% compared to the same quarter last year. Analysts predict that Patterson Companies, Inc. will post $2.32 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, July 28th. Shareholders 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 2.83%. Patterson Companies’s dividend payout ratio (DPR) is currently 58.10%.

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A number of analysts have issued reports on PDCO shares. Zacks Investment Research raised 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. Jefferies Group LLC reissued a “hold” rating and issued a $40.00 price target on shares of Patterson Companies in a research note on Friday, May 5th. BidaskClub raised Patterson Companies from a “hold” rating to a “buy” rating in a research note on Thursday, June 15th. Stifel Nicolaus lowered 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. Finally, UBS AG lowered Patterson Companies from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $44.50 to $40.00 in a research note on Tuesday, July 11th. Six investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $43.22.

In other Patterson Companies news, insider Ann B. Gugino sold 750 shares of the business’s stock in a transaction dated Tuesday, July 11th. The stock was sold at an average price of $42.40, for a total value of $31,800.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Scott P. Anderson sold 10,000 shares of the business’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $46.76, for a total value of $467,600.00. The disclosure for this sale can be found here. Insiders sold 11,500 shares of company stock worth $532,273 in the last 90 days. Corporate 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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Institutional Ownership by Quarter for Patterson Companies (NASDAQ:PDCO)

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