K.J. Harrison & Partners Inc decreased its position in Patterson Cos. (NASDAQ:PDCO) by 85.3% during the second quarter, Holdings Channel reports. The firm owned 5,000 shares of the company’s stock after selling 29,000 shares during the period. K.J. Harrison & Partners Inc’s holdings in Patterson Cos. were worth $239,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. raised its stake in shares of Patterson Cos. by 0.5% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,358 shares of the company’s stock valued at $113,000 after buying an additional 12 shares during the period. Friess Associates LLC acquired a new stake in shares of Patterson Cos. during the first quarter valued at about $151,000. QUANTRES ASSET MANAGEMENT Ltd acquired a new stake in shares of Patterson Cos. during the second quarter valued at about $220,000. Magnetar Financial LLC acquired a new stake in shares of Patterson Cos. during the first quarter valued at about $270,000. Finally, Prudential PLC acquired a new stake in shares of Patterson Cos. during the first quarter valued at about $279,000. 77.29% of the stock is currently owned by institutional investors and hedge funds.
Shares of Patterson Cos. (NASDAQ:PDCO) traded down 1.67% on Monday, reaching $45.90. 838,686 shares of the company traded hands. The company has a market capitalization of $4.38 billion, a P/E ratio of 22.63 and a beta of 0.88. Patterson Cos. has a one year low of $38.51 and a one year high of $50.40. The firm’s 50 day moving average is $46.17 and its 200 day moving average is $46.57.
Patterson Cos. (NASDAQ:PDCO) last released its quarterly earnings data on Thursday, August 25th. The company reported $0.51 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.51. Patterson Cos. had a return on equity of 17.42% and a net margin of 3.52%. The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same period in the previous year, the company posted $0.47 EPS. The firm’s revenue for the quarter was up 15.7% compared to the same quarter last year. Analysts expect that Patterson Cos. will post $2.64 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Friday, October 14th will be paid a $0.24 dividend. The ex-dividend date is Wednesday, October 12th. This represents a $0.96 dividend on an annualized basis and a yield of 2.09%. Patterson Cos.’s dividend payout ratio is currently 47.29%.
PDCO has been the topic of several analyst reports. Credit Suisse Group AG reissued a “buy” rating and issued a $55.00 price target on shares of Patterson Cos. in a report on Monday, June 27th. Evercore ISI raised shares of Patterson Cos. from a “hold” rating to a “buy” rating in a report on Wednesday, June 1st. Jefferies Group restated a “hold” rating on shares of Patterson Cos. in a research note on Thursday, August 4th. Zacks Investment Research upgraded shares of Patterson Cos. from a “sell” rating to a “hold” rating in a research note on Monday, August 22nd. Finally, Stifel Nicolaus restated a “hold” rating on shares of Patterson Cos. in a research note on Tuesday, May 31st. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $48.40.
In other Patterson Cos. news, insider Ann B. Gugino sold 750 shares of the company’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $46.22, for a total value of $34,665.00. Following the transaction, the insider now directly owns 40,153 shares in the company, valued at approximately $1,855,871.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.46% of the stock is owned by company insiders.
About Patterson Cos.
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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