Teachers Advisors LLC Increases Stake in Patterson Companies, Inc. (PDCO)
Teachers Advisors LLC grew its position in Patterson Companies, Inc. (NASDAQ:PDCO) by 11.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 123,091 shares of the company’s stock after purchasing an additional 12,770 shares during the period. Teachers Advisors LLC owned approximately 0.13% of Patterson Companies worth $5,779,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. OLD Mutual Customised Solutions Proprietary Ltd. increased its holdings in shares of 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 purchasing an additional 500 shares during the period. Invictus RG acquired a new position in shares of Patterson Companies in the first quarter valued at about $119,000. Commonwealth Bank of Australia boosted its stake in shares of Patterson Companies by 15.9% in the second quarter. Commonwealth Bank of Australia now owns 3,027 shares of the company’s stock worth $140,000 after buying an additional 415 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Patterson Companies by 4.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,576 shares of the company’s stock worth $168,000 after buying an additional 150 shares during the last quarter. Finally, Nordea Investment Management AB boosted its stake in shares of Patterson Companies by 48.4% in the first quarter. Nordea Investment Management AB now owns 3,735 shares of the company’s stock worth $169,000 after buying an additional 1,218 shares during the last quarter. 88.73% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have recently commented on PDCO. Robert W. Baird restated a “buy” rating and issued a $44.00 target price on shares of Patterson Companies in a research note on Tuesday, September 26th. Morgan Stanley began coverage on Patterson Companies in a research note on Thursday, September 21st. They issued an “equal weight” rating and a $42.00 target price on the stock. Royal Bank Of Canada began coverage on Patterson Companies in a research note on Tuesday, September 19th. They issued a “sector perform” rating and a $42.00 target price on the stock. Zacks Investment Research upgraded Patterson Companies from a “sell” rating to a “hold” rating in a research note on Wednesday, September 6th. Finally, TheStreet downgraded Patterson Companies from a “b-” rating to a “c” rating in a research note on Thursday, August 24th. Five equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $41.70.
Shares of Patterson Companies, Inc. (PDCO) opened at 37.64 on Tuesday. The stock has a market cap of $3.51 billion, a P/E ratio of 21.87 and a beta of 0.97. The stock has a 50 day moving average price of $38.22 and a 200-day moving average price of $42.42. Patterson Companies, Inc. has a 52 week low of $35.93 and a 52 week high of $49.26.
Patterson Companies (NASDAQ:PDCO) last announced its quarterly earnings data on Thursday, August 24th. The company reported $0.44 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.44. Patterson Companies had a return on equity of 15.51% and a net margin of 2.93%. The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the previous year, the company earned $0.51 EPS. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. Equities analysts predict that Patterson Companies, Inc. will post $2.29 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, October 13th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date is Thursday, October 12th. Patterson Companies’s payout ratio is currently 60.47%.
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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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