Westwood Holdings Group Inc. lowered its stake in Patterson Companies, Inc. (NASDAQ:PDCO) by 10.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,513,022 shares of the company’s stock after selling 170,219 shares during the period. Westwood Holdings Group Inc. owned about 1.60% of Patterson Companies worth $68,434,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Raymond James Financial Services Advisors Inc. raised its position in shares of Patterson Companies by 1.0% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 12,752 shares of the company’s stock valued at $523,000 after buying an additional 131 shares during the last quarter. LS Investment Advisors LLC increased its stake in Patterson Companies by 1.4% in the first quarter. LS Investment Advisors LLC now owns 9,631 shares of the company’s stock worth $436,000 after buying an additional 134 shares during the last quarter. Teton Advisors Inc. increased its stake in Patterson Companies by 0.5% in the first quarter. Teton Advisors Inc. now owns 29,404 shares of the company’s stock worth $1,330,000 after buying an additional 141 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its stake in Patterson Companies by 2.3% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 8,810 shares of the company’s stock worth $398,000 after buying an additional 200 shares during the last quarter. Finally, Tyers Asset Management LLC increased its stake in Patterson Companies by 1.4% in the first quarter. Tyers Asset Management LLC now owns 18,944 shares of the company’s stock worth $857,000 after buying an additional 256 shares during the last quarter. 89.62% of the stock is owned by institutional investors.
Shares of Patterson Companies, Inc. (PDCO) traded up 0.78% during mid-day trading on Tuesday, reaching $47.60. The company’s stock had a trading volume of 1,260,316 shares. Patterson Companies, Inc. has a 52-week low of $36.46 and a 52-week high of $50.05. The company has a 50-day moving average price of $44.87 and a 200 day moving average price of $43.46. The company has a market cap of $4.47 billion, a PE ratio of 26.59 and a beta of 0.98.
Patterson Companies (NASDAQ:PDCO) last posted its quarterly earnings results on Thursday, May 25th. The company reported $0.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.04. The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.46 billion. Patterson Companies had a return on equity of 15.94% and a net margin of 3.06%. The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.77 EPS. Equities analysts expect that Patterson Companies, Inc. will post $2.32 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 28th. Shareholders of record on Friday, July 14th will be paid a dividend of $0.26 per share. The ex-dividend date is Wednesday, July 12th. This represents a $1.04 annualized dividend and a yield of 2.18%. Patterson Companies’s payout ratio is presently 58.10%.
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A number of research firms recently weighed in on PDCO. BidaskClub upgraded Patterson Companies from a “hold” rating to a “buy” rating in a research report on Thursday, June 15th. Zacks Investment Research upgraded Patterson Companies from a “sell” rating to a “hold” rating in a research report on Wednesday, May 31st. Jefferies Group LLC restated a “hold” rating and issued a $40.00 target price on shares of Patterson Companies in a research report on Monday, May 15th. Evercore ISI downgraded Patterson Companies from a “hold” rating to an “underperform” rating in a research report on Friday, March 3rd. Finally, Credit Suisse Group restated a “hold” rating and issued a $45.00 target price on shares of Patterson Companies in a research report on Wednesday, March 1st. Three research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. Patterson Companies presently has an average rating of “Hold” and a consensus target price of $43.63.
In other Patterson Companies news, Director Scott P. Anderson sold 10,000 shares of the business’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $46.76, for a total transaction of $467,600.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Ann B. Gugino sold 750 shares of the business’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $43.83, for a total value of $32,872.50. The disclosure for this sale can be found here. 0.46% of the stock is currently owned by 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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