MSI Financial Services Inc raised its position in Patterson Cos. (NASDAQ:PDCO) by 58.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,181 shares of the company’s stock after buying an additional 3,754 shares during the period. MSI Financial Services Inc’s holdings in Patterson Cos. were worth $488,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the company. Wellington Management Group LLP raised its stake in Patterson Cos. by 3.5% in the first quarter. Wellington Management Group LLP now owns 2,801,575 shares of the company’s stock worth $130,358,000 after buying an additional 94,184 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in Patterson Cos. by 2.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,626,361 shares of the company’s stock worth $122,205,000 after buying an additional 72,962 shares in the last quarter. BlackRock Fund Advisors raised its stake in Patterson Cos. by 12.7% in the first quarter. BlackRock Fund Advisors now owns 2,542,819 shares of the company’s stock worth $118,317,000 after buying an additional 287,257 shares in the last quarter. Norges Bank acquired a new stake in Patterson Cos. during the fourth quarter worth approximately $49,779,000. Finally, Geode Capital Management LLC raised its stake in Patterson Cos. by 1.5% in the first quarter. Geode Capital Management LLC now owns 783,712 shares of the company’s stock worth $36,400,000 after buying an additional 11,454 shares in the last quarter. 77.29% of the stock is currently owned by institutional investors.
Shares of Patterson Cos. (NASDAQ:PDCO) traded down 1.06% during midday trading on Friday, reaching $46.68. The company had a trading volume of 728,200 shares. The stock has a market capitalization of $4.46 billion, a PE ratio of 23.02 and a beta of 0.88. The stock’s 50 day moving average is $46.24 and its 200-day moving average is $46.52. Patterson Cos. has a 12-month low of $38.51 and a 12-month high of $50.40.
Patterson Cos. (NASDAQ:PDCO) last released its quarterly earnings results on Thursday, August 25th. The company reported $0.51 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 firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same quarter in the previous year, the company posted $0.47 EPS. The business’s revenue was up 15.7% on a year-over-year basis. On average, equities research analysts predict that Patterson Cos. will post $2.64 earnings per share for the current fiscal year.
The business also recently declared 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. The ex-dividend date of this dividend is Wednesday, October 12th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.06%. Patterson Cos.’s dividend payout ratio (DPR) is presently 47.29%.
A number of brokerages recently issued reports on PDCO. Evercore ISI raised Patterson Cos. from a “hold” rating to a “buy” rating in a research report on Wednesday, June 1st. Jefferies Group reissued a “hold” rating on shares of Patterson Cos. in a research report on Thursday, August 4th. Bank of America Corp. began coverage on Patterson Cos. in a research report on Wednesday, August 24th. They issued an “underperform” rating and a $44.00 target price on the stock. Zacks Investment Research raised Patterson Cos. from a “sell” rating to a “hold” rating in a research report on Monday, September 5th. Finally, Stifel Nicolaus reissued a “hold” rating on shares of Patterson Cos. in a research report on Tuesday, May 31st. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price 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 sale, the insider now owns 40,153 shares in the company, valued at approximately $1,855,871.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.46% of the stock is owned by company insiders.
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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