Savant Capital LLC increased its stake in shares of Patterson Cos. (NASDAQ:PDCO) by 13.3% during the second quarter, Holdings Channel reports. The firm owned 18,409 shares of the company’s stock after buying an additional 2,160 shares during the period. Savant Capital LLC’s holdings in Patterson Cos. were worth $882,000 as of its most recent filing with the SEC.
Other institutional investors also recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. boosted its position 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 bought a new position in shares of Patterson Cos. during the first quarter valued at $151,000. QUANTRES ASSET MANAGEMENT Ltd bought a new position in shares of Patterson Cos. during the second quarter valued at $220,000. Magnetar Financial LLC bought a new position in shares of Patterson Cos. during the first quarter valued at $270,000. Finally, Prudential PLC bought a new position in shares of Patterson Cos. during the first quarter valued at $279,000. Institutional investors own 77.29% of the company’s stock.
Patterson Cos. (NASDAQ:PDCO) traded down 1.28% during trading on Tuesday, hitting $44.74. The stock had a trading volume of 901,253 shares. The firm has a market cap of $4.27 billion, a P/E ratio of 22.06 and a beta of 0.94. The company has a 50-day moving average of $46.12 and a 200 day moving average of $46.62. Patterson Cos. has a 52-week low of $38.51 and a 52-week high of $50.40.
Patterson Cos. (NASDAQ:PDCO) last released its quarterly earnings results on Thursday, August 25th. The company reported $0.51 earnings per share for the quarter, meeting the consensus estimate of $0.51. The firm had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.35 billion. Patterson Cos. had a return on equity of 17.42% and a net margin of 3.52%. The company’s revenue was up 15.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.47 EPS. On average, equities research analysts predict that Patterson Cos. will post $2.67 earnings per share for the current fiscal 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 issued 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 2.15%. Patterson Cos.’s dividend payout ratio is currently 47.29%.
Several equities analysts have recently weighed in on the company. Zacks Investment Research cut Patterson Cos. from a “hold” rating to a “sell” rating in a research report on Tuesday, August 16th. Off Wall Street assumed coverage on Patterson Cos. in a research report on Monday, August 8th. They issued a “sell” rating for the company. Credit Suisse Group AG reiterated a “buy” rating and issued a $55.00 price target on shares of Patterson Cos. in a research report on Monday, June 27th. TheStreet cut Patterson Cos. from a “buy” rating to a “hold” rating in a research report on Thursday, September 1st. Finally, Robert W. Baird restated a “neutral” rating and set a $49.00 target price (down from $51.00) on shares of Patterson Cos. in a research report on Friday, August 26th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. Patterson Cos. currently has an average rating of “Hold” and a consensus price target of $48.40.
In related news, insider Ann B. Gugino sold 750 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at approximately $1,855,871.66. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.46% of the stock is owned by corporate 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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