Public Employees Retirement System of Ohio lessened its stake in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 4.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,883 shares of the company’s stock after selling 1,804 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Patterson Companies were worth $1,638,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of PDCO. OLD Mutual Customised Solutions Proprietary Ltd. grew its holdings in Patterson Companies by 27.8% during the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,300 shares of the company’s stock valued at $104,000 after buying an additional 500 shares in the last quarter. Commonwealth Bank of Australia grew its holdings in shares of Patterson Companies by 15.9% during the second quarter. Commonwealth Bank of Australia now owns 3,027 shares of the company’s stock worth $140,000 after purchasing an additional 415 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Patterson Companies by 4.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,576 shares of the company’s stock worth $168,000 after purchasing an additional 150 shares in the last quarter. Palisade Asset Management LLC purchased a new position in shares of Patterson Companies during the second quarter worth about $188,000. Finally, Moreno Evelyn V purchased a new position in shares of Patterson Companies during the second quarter worth about $202,000. 88.98% of the stock is owned by institutional investors and hedge funds.
In other Patterson Companies news, CFO Ann B. Gugino sold 750 shares of the company’s stock in a transaction that occurred on Wednesday, October 11th. The stock was sold at an average price of $36.73, for a total value of $27,547.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.46% of the stock is owned by corporate insiders.
Several brokerages have recently commented on PDCO. Zacks Investment Research raised Patterson Companies from a “sell” rating to a “hold” rating in a report on Monday, October 23rd. Piper Jaffray Companies began coverage on Patterson Companies in a report on Thursday, October 19th. They set a “neutral” rating and a $41.00 price objective for the company. Robert W. Baird reissued a “buy” rating and set a $44.00 price objective on shares of Patterson Companies in a report on Tuesday, September 26th. Morgan Stanley began coverage on Patterson Companies in a report on Thursday, September 21st. They set an “equal weight” rating and a $42.00 price objective for the company. Finally, Royal Bank Of Canada began coverage on Patterson Companies in a report on Tuesday, September 19th. They set a “sector perform” rating and a $42.00 price objective for the company. Five research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $41.64.
Shares of Patterson Companies, Inc. (NASDAQ PDCO) opened at $36.15 on Monday. The stock has a market capitalization of $3,462.30, a P/E ratio of 15.93, a price-to-earnings-growth ratio of 1.86 and a beta of 0.96. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.01 and a quick ratio of 1.15. Patterson Companies, Inc. has a 52 week low of $35.69 and a 52 week high of $49.26.
Patterson Companies (NASDAQ:PDCO) last issued its earnings results on Thursday, August 24th. The company reported $0.44 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.44. The business had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.34 billion. Patterson Companies had a return on equity of 15.51% and a net margin of 2.93%. Patterson Companies’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.51 earnings per share. equities analysts expect that Patterson Companies, Inc. will post 2.29 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, October 27th. Shareholders of record on Friday, October 13th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.88%. The ex-dividend date of this dividend was Thursday, October 12th. Patterson Companies’s dividend payout ratio is currently 60.47%.
Patterson Companies Company 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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