Harvey Investment Co. LLC lowered its position in shares of Patterson Cos. (NASDAQ:PDCO) by 28.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,800 shares of the company’s stock after selling 5,100 shares during the period. Harvey Investment Co. LLC’s holdings in Patterson Cos. were worth $613,000 as of its most recent filing with the SEC.
Other large investors have also recently added to or reduced their stakes in the company. UBS Group AG raised its position in shares of Patterson Cos. by 264.2% in the first quarter. UBS Group AG now owns 98,014 shares of the company’s stock valued at $4,561,000 after buying an additional 71,105 shares in the last quarter. Zebra Capital Management LLC raised its position in shares of Patterson Cos. by 63.4% in the first quarter. Zebra Capital Management LLC now owns 27,847 shares of the company’s stock valued at $1,296,000 after buying an additional 10,802 shares in the last quarter. BB&T Securities LLC raised its position in shares of Patterson Cos. by 29.5% in the first quarter. BB&T Securities LLC now owns 10,918 shares of the company’s stock valued at $508,000 after buying an additional 2,484 shares in the last quarter. Credit Agricole S A raised its position in shares of Patterson Cos. by 10.1% in the first quarter. Credit Agricole S A now owns 76,793 shares of the company’s stock valued at $3,573,000 after buying an additional 7,016 shares in the last quarter. Finally, Palisade Capital Management LLC NJ bought a new position in shares of Patterson Cos. during the first quarter valued at $2,675,000. 77.29% of the stock is owned by institutional investors and hedge funds.
Shares of Patterson Cos. (NASDAQ:PDCO) traded up 1.10% during mid-day trading on Wednesday, reaching $45.23. 604,241 shares of the company traded hands. The stock’s 50 day moving average is $46.09 and its 200 day moving average is $46.61. Patterson Cos. has a 52-week low of $38.51 and a 52-week high of $50.40. The stock has a market capitalization of $4.32 billion, a PE ratio of 22.30 and a beta of 0.94.
Patterson Cos. (NASDAQ:PDCO) last issued its quarterly earnings data on Thursday, August 25th. The company reported $0.51 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.51. Patterson Cos. had a net margin of 3.52% and a return on equity of 17.42%. The business earned $1.32 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same period in the previous year, the company earned $0.47 earnings per share. Patterson Cos.’s revenue for the quarter was up 15.7% on a year-over-year basis. On average, analysts anticipate that Patterson Cos. will post $2.67 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, October 14th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.15%. The ex-dividend date of this dividend is Wednesday, October 12th. Patterson Cos.’s payout ratio is currently 47.29%.
Several research analysts have weighed in on PDCO shares. Credit Suisse Group AG reissued a “buy” rating and set a $55.00 price objective on shares of Patterson Cos. in a report on Monday, June 27th. Zacks Investment Research raised shares of Patterson Cos. from a “sell” rating to a “hold” rating in a report on Thursday, September 22nd. Jefferies Group reaffirmed a “hold” rating on shares of Patterson Cos. in a report on Thursday, August 4th. TheStreet lowered shares of Patterson Cos. from a “buy” rating to a “hold” rating in a report on Thursday, September 1st. Finally, Evercore ISI reaffirmed a “hold” rating and issued a $48.00 price target (down from $49.00) on shares of Patterson Cos. in a report on Friday, August 26th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $48.40.
In related news, insider Ann B. Gugino sold 750 shares of the company’s stock in a transaction on Monday, August 29th. The shares were sold at an average price of $46.22, for a total transaction of $34,665.00. Following the completion of the transaction, the insider now directly owns 40,153 shares in the company, valued at approximately $1,855,871.66. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.46% of the company’s stock.
Patterson Cos. Company Profile
Patterson Companies, Inc is a distributor serving the dental, veterinary and rehabilitation supply markets. The Company operates through three segments: dental supply, veterinary supply and rehabilitation supply. The dental supply segment provides a range of consumable dental products, clinical and laboratory equipment, and value-added services to dentists, dental laboratories, institutions and other dental healthcare providers across North America.
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