Sit Investment Associates Inc. raised its stake in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 12.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 86,000 shares of the company’s stock after buying an additional 9,470 shares during the period. Sit Investment Associates Inc. owned about 0.09% of Patterson Companies worth $3,107,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PDCO. Schwab Charles Investment Management Inc. raised its stake in shares of Patterson Companies by 4.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 389,552 shares of the company’s stock valued at $18,290,000 after buying an additional 15,775 shares during the last quarter. Schroder Investment Management Group raised its stake in shares of Patterson Companies by 54.4% during the 2nd quarter. Schroder Investment Management Group now owns 236,007 shares of the company’s stock valued at $11,232,000 after buying an additional 83,125 shares during the last quarter. Tredje AP fonden purchased a new position in shares of Patterson Companies during the 2nd quarter valued at about $254,000. Commonwealth Bank of Australia raised its stake in shares of Patterson Companies by 15.9% during the 2nd quarter. Commonwealth Bank of Australia now owns 3,027 shares of the company’s stock valued at $140,000 after buying an additional 415 shares during the last quarter. Finally, Alliancebernstein L.P. raised its stake in shares of Patterson Companies by 0.4% during the 2nd quarter. Alliancebernstein L.P. now owns 141,867 shares of the company’s stock valued at $6,661,000 after buying an additional 513 shares during the last quarter. Institutional investors and hedge funds own 93.99% of the company’s stock.
In other Patterson Companies news, insider Ann B. Gugino sold 750 shares of the business’s stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $36.38, for a total transaction of $27,285.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John D. Buck acquired 2,834 shares of the business’s stock in a transaction on Friday, November 24th. The shares were purchased at an average price of $34.93 per share, with a total value of $98,991.62. Following the completion of the purchase, the director now owns 54,627 shares in the company, valued at approximately $1,908,121.11. The disclosure for this purchase can be found here. 0.46% of the stock is owned by insiders.
Patterson Companies, Inc. (PDCO) opened at $37.51 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.94 and a debt-to-equity ratio of 0.73. Patterson Companies, Inc. has a 52 week low of $32.07 and a 52 week high of $48.29. The firm has a market capitalization of $3,556.85, a PE ratio of 16.90, a P/E/G ratio of 2.11 and a beta of 0.95.
Patterson Companies (NASDAQ:PDCO) last announced its quarterly earnings results on Tuesday, November 21st. The company reported $0.51 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.03). Patterson Companies had a net margin of 2.84% and a return on equity of 15.19%. The business had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter in the prior year, the firm earned $0.56 EPS. Patterson Companies’s revenue for the quarter was down 2.3% on a year-over-year basis. research analysts forecast that Patterson Companies, Inc. will post 2.1 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 26th. Investors of record on Friday, January 12th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Thursday, January 11th. This represents a $1.04 annualized dividend and a dividend yield of 2.77%. Patterson Companies’s dividend payout ratio is presently 62.28%.
A number of equities analysts have weighed in on PDCO shares. Royal Bank of Canada started coverage on Patterson Companies in a research note on Tuesday, September 19th. They set a “sector perform” rating and a $42.00 price objective for the company. Morgan Stanley started coverage on Patterson Companies in a research note on Thursday, September 21st. They set an “equal weight” rating and a $42.00 price objective for the company. Robert W. Baird reiterated a “buy” rating and set a $44.00 price objective on shares of Patterson Companies in a research note on Tuesday, September 26th. Piper Jaffray Companies began coverage on Patterson Companies in a research note on Thursday, October 19th. They issued a “neutral” rating and a $41.00 price target for the company. Finally, Zacks Investment Research upgraded Patterson Companies from a “sell” rating to a “hold” rating in a research note on Monday, October 23rd. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target 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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