AE Wealth Management LLC bought a new position in Patterson Companies, Inc. (NASDAQ:PDCO) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 28,693 shares of the company’s stock, valued at approximately $1,037,000.
Other hedge funds also recently bought and sold shares of the company. Amica Retiree Medical Trust raised its holdings in Patterson Companies by 433.8% in the 3rd quarter. Amica Retiree Medical Trust now owns 2,989 shares of the company’s stock valued at $116,000 after buying an additional 2,429 shares during the last quarter. Advisory Services Network LLC raised its holdings in Patterson Companies by 423.4% in the 2nd quarter. Advisory Services Network LLC now owns 2,523 shares of the company’s stock valued at $118,000 after buying an additional 2,041 shares during the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH bought a new position in Patterson Companies in the 4th quarter valued at approximately $145,000. GHP Investment Advisors Inc. bought a new position in Patterson Companies in the 3rd quarter valued at approximately $212,000. Finally, IFG Advisory LLC bought a new position in Patterson Companies in the 4th quarter valued at approximately $212,000. 93.63% of the stock is owned by hedge funds and other institutional investors.
In other news, insider Ann B. Gugino sold 750 shares of the firm’s stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $36.38, for a total transaction of $27,285.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John D. Buck acquired 2,834 shares of Patterson Companies stock in a transaction dated 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 transaction, the director now owns 54,627 shares in the company, valued at $1,908,121.11. The disclosure for this purchase can be found here. Company insiders own 0.46% of the company’s stock.
Patterson Companies (NASDAQ:PDCO) last released its earnings results on Tuesday, November 21st. The company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.03). The firm had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.42 billion. Patterson Companies had a net margin of 2.84% and a return on equity of 15.19%. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.56 EPS. equities research analysts forecast that Patterson Companies, Inc. will post 2.11 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, January 26th. Stockholders of record on Friday, January 12th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 3.14%. The ex-dividend date of this dividend was Thursday, January 11th. Patterson Companies’s dividend payout ratio (DPR) is 62.28%.
PDCO has been the subject of a number of research reports. Zacks Investment Research upgraded shares of Patterson Companies from a “sell” rating to a “hold” rating in a report on Monday, October 23rd. Morgan Stanley lowered shares of Patterson Companies from an “equal weight” rating to an “underweight” rating and set a $42.00 price objective for the company. in a report on Wednesday, December 6th. Deutsche Bank initiated coverage on shares of Patterson Companies in a report on Friday, December 8th. They issued a “hold” rating and a $37.00 price objective for the company. Piper Jaffray Companies assumed coverage on shares of Patterson Companies in a report on Thursday, October 19th. They issued a “neutral” rating and a $41.00 price objective for the company. Finally, BidaskClub downgraded shares of Patterson Companies from a “hold” rating to a “sell” rating in a research report on Thursday, December 7th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. Patterson Companies has an average rating of “Hold” and an average target price of $40.29.
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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