Patterson Companies, Inc. (NASDAQ:PDCO) Shares Bought by State of Alaska Department of Revenue

State of Alaska Department of Revenue increased its stake in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 6.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 19,508 shares of the company’s stock after buying an additional 1,166 shares during the period. State of Alaska Department of Revenue’s holdings in Patterson Companies were worth $915,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Nomura Asset Management Co. Ltd. boosted its position in shares of Patterson Companies by 0.7% in the first quarter. Nomura Asset Management Co. Ltd. now owns 10,520 shares of the company’s stock valued at $476,000 after buying an additional 70 shares during the period. LS Investment Advisors LLC boosted its position in shares of Patterson Companies by 1.4% in the first quarter. LS Investment Advisors LLC now owns 9,631 shares of the company’s stock valued at $436,000 after buying an additional 134 shares during the period. Teton Advisors Inc. boosted its position in shares of Patterson Companies by 0.5% in the first quarter. Teton Advisors Inc. now owns 29,404 shares of the company’s stock valued at $1,330,000 after buying an additional 141 shares during the period. Meiji Yasuda Asset Management Co Ltd. boosted its position in shares of 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 valued at $398,000 after buying an additional 200 shares during the period. Finally, Tyers Asset Management LLC boosted its position in shares of Patterson Companies by 1.4% in the first quarter. Tyers Asset Management LLC now owns 18,944 shares of the company’s stock valued at $857,000 after buying an additional 256 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Shares of Patterson Companies, Inc. (NASDAQ:PDCO) opened at 42.97 on Wednesday. Patterson Companies, Inc. has a 1-year low of $36.46 and a 1-year high of $49.83. The firm’s 50-day moving average is $45.98 and its 200-day moving average is $44.24. The company has a market cap of $4.03 billion, a PE ratio of 24.01 and a beta of 0.98.

Patterson Companies (NASDAQ:PDCO) last issued its earnings results on Thursday, May 25th. The company reported $0.69 EPS for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.04. The firm had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.46 billion. Patterson Companies had a return on equity of 15.94% and a net margin of 3.06%. Patterson Companies’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.77 earnings per share. On average, equities analysts forecast that Patterson Companies, Inc. will post $2.32 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 28th. Shareholders of record on Friday, July 14th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date is Wednesday, July 12th. Patterson Companies’s payout ratio is presently 58.10%.

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Several equities analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Patterson Companies from a “sell” rating to a “hold” rating in a research note on Wednesday, May 31st. Craig Hallum assumed coverage on shares of Patterson Companies in a research note on Tuesday, April 11th. They issued a “hold” rating on the stock. Jefferies Group LLC reiterated a “hold” rating and issued a $40.00 price objective on shares of Patterson Companies in a research note on Monday, May 15th. Stifel Nicolaus cut shares of Patterson Companies from a “hold” rating to a “sell” rating and lowered their price objective for the stock from $47.43 to $39.00 in a research note on Thursday, July 6th. Finally, UBS AG cut shares of Patterson Companies from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $44.50 to $40.00 in a research note on Tuesday, July 11th. Five equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $43.78.

In other Patterson Companies news, insider Ann B. Gugino sold 750 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $43.83, for a total value of $32,872.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Scott P. Anderson sold 10,000 shares of the business’s stock in a transaction that occurred on 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 valued at $532,273 over the last three months. 0.46% of the stock is currently owned by corporate 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.

Institutional Ownership by Quarter for Patterson Companies (NASDAQ:PDCO)

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