Victory Capital Management Inc. increased its position in shares of Patterson Cos. (NASDAQ:PDCO) by 5.0% during the second quarter, Holdings Channel reports. The institutional investor owned 17,617 shares of the company’s stock after buying an additional 844 shares during the period. Victory Capital Management Inc.’s holdings in Patterson Cos. were worth $844,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in PDCO. Benjamin F. Edwards & Company Inc. boosted its stake in Patterson Cos. by 0.5% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,358 shares of the company’s stock worth $113,000 after buying an additional 12 shares in the last quarter. Friess Associates LLC acquired a new stake in shares of Patterson Cos. during the first quarter valued at about $151,000. Advisors Asset Management Inc. boosted its stake in shares of Patterson Cos. by 27.4% in the second quarter. Advisors Asset Management Inc. now owns 3,523 shares of the company’s stock valued at $169,000 after buying an additional 757 shares during the period. Norinchukin Bank The acquired a new stake in shares of Patterson Cos. during the second quarter valued at about $209,000. Finally, QUANTRES ASSET MANAGEMENT Ltd acquired a new stake in shares of Patterson Cos. during the second quarter valued at about $220,000. 77.29% of the stock is currently owned by hedge funds and other institutional investors.
Patterson Cos. (NASDAQ:PDCO) opened at 46.68 on Friday. The stock’s 50 day moving average price is $46.24 and its 200 day moving average price is $46.52. Patterson Cos. has a 12-month low of $38.51 and a 12-month high of $50.40. The stock has a market cap of $4.46 billion, a price-to-earnings ratio of 23.02 and a beta of 0.88.
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, hitting the Thomson Reuters’ consensus estimate of $0.51. The firm earned $1.32 billion during 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%. Patterson Cos.’s revenue was up 15.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.47 earnings per share. Analysts forecast that Patterson Cos. will post $2.64 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Friday, October 14th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.06%. The ex-dividend date is Wednesday, October 12th. Patterson Cos.’s payout ratio is 47.29%.
Several equities research analysts have issued reports on the stock. Evercore ISI raised shares of Patterson Cos. from a “hold” rating to a “buy” rating in a research note on Wednesday, June 1st. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Patterson Cos. in a research note on Tuesday, May 31st. TheStreet cut shares of Patterson Cos. from a “buy” rating to a “hold” rating in a research note on Thursday, September 1st. Jefferies Group reaffirmed a “hold” rating on shares of Patterson Cos. in a research note on Thursday, August 4th. Finally, Zacks Investment Research raised shares of Patterson Cos. from a “sell” rating to a “hold” rating in a research note on Thursday. Two equities 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’s stock. The company has an average rating of “Hold” and an average price target of $48.40.
In other Patterson Cos. news, insider Ann B. Gugino sold 750 shares of the 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 completion of the transaction, the insider now owns 40,153 shares in the company, valued at $1,855,871.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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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