Clean Yield Group Reduces Position in Patterson Companies, Inc. (PDCO)
Clean Yield Group trimmed its position in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 25.7% in the 4th quarter, HoldingsChannel reports. The firm owned 16,575 shares of the company’s stock after selling 5,740 shares during the period. Clean Yield Group’s holdings in Patterson Companies were worth $599,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of PDCO. Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of Patterson Companies by 46.0% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,878,432 shares of the company’s stock worth $188,551,000 after purchasing an additional 1,536,422 shares in the last quarter. Thompson Siegel & Walmsley LLC increased its position in shares of Patterson Companies by 152.8% during the third quarter. Thompson Siegel & Walmsley LLC now owns 885,174 shares of the company’s stock worth $34,212,000 after purchasing an additional 535,029 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Patterson Companies by 114.1% during the third quarter. Van ECK Associates Corp now owns 880,341 shares of the company’s stock worth $34,025,000 after purchasing an additional 469,072 shares in the last quarter. Atlanta Capital Management Co. L L C purchased a new stake in shares of Patterson Companies during the third quarter worth approximately $10,453,000. Finally, Shell Asset Management Co. increased its position in shares of Patterson Companies by 2,700.1% during the third quarter. Shell Asset Management Co. now owns 253,859 shares of the company’s stock worth $10,517,000 after purchasing an additional 244,793 shares in the last quarter. Hedge funds and other institutional investors own 94.12% of the company’s stock.
PDCO has been the subject of several research reports. Zacks Investment Research upgraded Patterson Companies from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 4th. Stifel Nicolaus upgraded Patterson Companies from a “sell” rating to a “hold” rating and set a $34.00 price target for the company in a research report on Wednesday, November 15th. Deutsche Bank began coverage on Patterson Companies in a research report on Friday, December 8th. They set a “hold” rating and a $37.00 price target for the company. Morgan Stanley began coverage on Patterson Companies in a report on Thursday, September 21st. They issued an “equal weight” rating and a $42.00 target price for the company. Finally, Jefferies Group restated a “hold” rating and issued a $37.00 target price on shares of Patterson Companies in a report on Thursday, November 23rd. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $40.23.
Shares of Patterson Companies, Inc. (NASDAQ:PDCO) traded up $0.84 during trading hours on Tuesday, reaching $37.51. The company’s stock had a trading volume of 1,550,900 shares, compared to its average volume of 1,490,344. The company has a current ratio of 1.94, a quick ratio of 1.10 and a debt-to-equity ratio of 0.73. The stock has a market cap of $3,556.85, a PE ratio of 22.46, a P/E/G ratio of 2.11 and a beta of 0.95. Patterson Companies, Inc. has a 12 month low of $32.07 and a 12 month high of $48.29.
Patterson Companies (NASDAQ:PDCO) last issued its earnings results on Tuesday, November 21st. The company reported $0.51 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.03). The company had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Patterson Companies had a net margin of 2.84% and a return on equity of 15.19%. The firm’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.56 earnings per share. analysts predict that Patterson Companies, Inc. will post 2.1 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 26th. Shareholders of record on Friday, January 12th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend is Thursday, January 11th. Patterson Companies’s payout ratio is currently 62.28%.
In other Patterson Companies news, Director John D. Buck purchased 2,834 shares of the stock in a transaction dated Friday, November 24th. The stock was acquired at an average cost of $34.93 per share, for a total transaction of $98,991.62. Following the acquisition, the director now owns 54,627 shares in the company, valued at approximately $1,908,121.11. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Ann B. Gugino sold 750 shares of the stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $36.38, for a total value of $27,285.00. The disclosure for this sale can be found here. 0.46% of the stock is owned by corporate insiders.
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Patterson Companies 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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