First Trust Advisors LP grew its stake in Patterson Companies, Inc. (NASDAQ:PDCO) by 37.6% in the fourth quarter, HoldingsChannel reports. The firm owned 874,845 shares of the company’s stock after acquiring an additional 239,085 shares during the quarter. First Trust Advisors LP’s holdings in Patterson Companies were worth $31,608,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of PDCO. Alyeska Investment Group L.P. acquired a new position in Patterson Companies in the third quarter valued at approximately $2,961,000. Gateway Investment Advisers LLC lifted its holdings in Patterson Companies by 4.7% in the fourth quarter. Gateway Investment Advisers LLC now owns 172,996 shares of the company’s stock valued at $6,250,000 after acquiring an additional 7,795 shares during the last quarter. Nomura Holdings Inc. acquired a new position in Patterson Companies in the second quarter valued at approximately $287,000. Heartland Advisors Inc. lifted its holdings in Patterson Companies by 11.1% in the third quarter. Heartland Advisors Inc. now owns 246,086 shares of the company’s stock valued at $9,511,000 after acquiring an additional 24,612 shares during the last quarter. Finally, Atlanta Capital Management Co. L L C acquired a new position in Patterson Companies in the third quarter valued at approximately $10,453,000. Institutional investors and hedge funds own 93.91% of the company’s stock.
In related news, Director John D. Buck acquired 2,834 shares of the business’s stock in a transaction dated Friday, November 24th. The shares were acquired at an average price of $34.93 per share, with a total value of $98,991.62. Following the completion of the transaction, the director now owns 54,627 shares of the company’s stock, valued at $1,908,121.11. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Ann B. Gugino sold 750 shares of the company’s stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $36.38, for a total value of $27,285.00. The disclosure for this sale can be found here. 0.46% of the stock is currently owned by corporate insiders.
Patterson Companies (NASDAQ:PDCO) last posted its quarterly earnings data 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). Patterson Companies had a return on equity of 15.19% and a net margin of 2.84%. The company had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same period in the prior year, the company posted $0.56 EPS. The firm’s revenue was down 2.3% compared to the same quarter last year. sell-side analysts predict that Patterson Companies, Inc. will post 2.11 EPS 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 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date was Thursday, January 11th. Patterson Companies’s dividend payout ratio is currently 62.28%.
A number of research analysts recently commented on the company. BidaskClub cut Patterson Companies from a “hold” rating to a “sell” rating in a report on Wednesday, January 24th. Zacks Investment Research upgraded Patterson Companies from a “sell” rating to a “buy” rating and set a $41.00 price objective on the stock in a report on Tuesday, January 23rd. Robert W. Baird reiterated a “buy” rating and issued a $44.00 price objective on shares of Patterson Companies in a report on Friday, November 10th. JPMorgan Chase & Co. cut Patterson Companies from a “neutral” rating to an “underweight” rating and decreased their price objective for the company from $40.00 to $36.00 in a report on Thursday, February 15th. Finally, Evercore ISI started coverage on Patterson Companies in a report on Thursday, January 4th. They issued an “in-line” rating and a $38.50 price objective on the stock. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. Patterson Companies currently has an average rating of “Hold” and a consensus price target of $39.96.
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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