DnB Asset Management AS Has $3.91 Million Stake in Patterson Companies, Inc. (PDCO)

DnB Asset Management AS cut its holdings in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 36.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 108,100 shares of the company’s stock after selling 62,285 shares during the period. DnB Asset Management AS’s holdings in Patterson Companies were worth $3,907,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Amica Retiree Medical Trust lifted its position in Patterson Companies by 433.8% in the third quarter. Amica Retiree Medical Trust now owns 2,989 shares of the company’s stock worth $116,000 after purchasing an additional 2,429 shares during the period. Advisory Services Network LLC lifted its position in Patterson Companies by 423.4% in the second quarter. Advisory Services Network LLC now owns 2,523 shares of the company’s stock worth $118,000 after purchasing an additional 2,041 shares during the period. Commonwealth Bank of Australia lifted its position in 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 purchasing an additional 415 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in 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 purchasing an additional 150 shares during the period. Finally, Sciencast Management LP acquired a new stake in Patterson Companies in the second quarter worth approximately $205,000. Institutional investors and hedge funds own 93.99% of the company’s stock.

Shares of Patterson Companies, Inc. (PDCO) opened at $37.51 on Friday. Patterson Companies, Inc. has a 52-week low of $32.07 and a 52-week high of $48.29. The company has a market capitalization of $3,477.20, a price-to-earnings ratio of 16.52, a PEG ratio of 2.06 and a beta of 0.95. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.10 and a current ratio of 1.94.

Patterson Companies (NASDAQ:PDCO) last announced its quarterly earnings data on Tuesday, November 21st. The company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.03). Patterson Companies had a net margin of 2.84% and a return on equity of 15.19%. The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same quarter last year, the company posted $0.56 EPS. Patterson Companies’s revenue was down 2.3% on a year-over-year basis. sell-side analysts forecast that Patterson Companies, Inc. will post 2.1 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 26th. Stockholders of record on Friday, January 12th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, January 11th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.77%. Patterson Companies’s dividend payout ratio (DPR) is presently 62.28%.

In other news, Director John D. Buck bought 2,834 shares of the business’s stock in a transaction on Friday, November 24th. The shares were bought at an average cost of $34.93 per share, with a total value of $98,991.62. Following the purchase, the director now directly owns 54,627 shares in the company, valued at $1,908,121.11. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Ann B. Gugino sold 750 shares of the business’s stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $36.38, for a total transaction of $27,285.00. The disclosure for this sale can be found here. 0.46% of the stock is currently owned by corporate insiders.

A number of equities research analysts have weighed in on PDCO shares. Morgan Stanley started coverage on Patterson Companies in a research report on Thursday, September 21st. They issued an “equal weight” rating and a $42.00 target price for the company. Stifel Nicolaus upgraded Patterson Companies from a “sell” rating to a “hold” rating and set a $34.00 target price for the company in a research report on Wednesday, November 15th. Robert W. Baird restated a “buy” rating and issued a $44.00 target price on shares of Patterson Companies in a research report on Tuesday, September 26th. Deutsche Bank started coverage on Patterson Companies in a research report on Friday, December 8th. They issued a “hold” rating and a $37.00 target price for the company. Finally, Piper Jaffray Companies started coverage on Patterson Companies in a research report on Thursday, October 19th. They issued a “neutral” rating and a $41.00 target price for the company. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $40.23.

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

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