Patterson Companies, Inc. (PDCO) Position Decreased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. reduced its position in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 1.3% during the first quarter, Holdings Channel reports. The institutional investor owned 78,822 shares of the company’s stock after selling 1,029 shares during the period. PNC Financial Services Group Inc. owned 0.08% of Patterson Companies worth $3,564,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in PDCO. Benjamin F. Edwards & Company Inc. boosted its stake in Patterson Companies by 29.3% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 3,079 shares of the company’s stock worth $139,000 after buying an additional 698 shares in the last quarter. Nordea Investment Management AB boosted its stake in Patterson Companies by 48.4% in the first quarter. Nordea Investment Management AB now owns 3,735 shares of the company’s stock worth $169,000 after buying an additional 1,218 shares in the last quarter. ING Groep NV purchased a new stake in Patterson Companies during the fourth quarter worth $211,000. Ashfield Capital Partners LLC purchased a new stake in Patterson Companies during the first quarter worth $213,000. Finally, Bell Bank purchased a new stake in Patterson Companies during the first quarter worth $216,000. Institutional investors and hedge funds own 89.69% of the company’s stock.

Institutional Ownership by Quarter for Patterson Companies (NASDAQ:PDCO)

Shares of Patterson Companies, Inc. (PDCO) traded up 0.11% during trading on Friday, hitting $46.88. 1,044,835 shares of the company traded hands. The stock has a market capitalization of $4.40 billion, a PE ratio of 26.19 and a beta of 0.98. Patterson Companies, Inc. has a 52-week low of $36.46 and a 52-week high of $50.05. The company has a 50-day moving average of $44.79 and a 200-day moving average of $43.33.

Patterson Companies (NASDAQ:PDCO) last announced its quarterly earnings results on Thursday, May 25th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.04. The firm had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.46 billion. Patterson Companies had a return on equity of 15.94% and a net margin of 3.06%. The firm’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.77 earnings per share. Equities analysts expect that Patterson Companies, Inc. will post $2.32 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 28th. Investors of record on Friday, July 14th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date is Wednesday, July 12th. Patterson Companies’s dividend payout ratio (DPR) is 58.10%.

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A number of analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Patterson Companies from a “sell” rating to a “hold” rating in a report on Wednesday, May 31st. Deutsche Bank AG assumed coverage on shares of Patterson Companies in a report on Wednesday, March 15th. They issued a “hold” rating and a $45.00 price target on the stock. Evercore ISI cut shares of Patterson Companies from a “hold” rating to an “underperform” rating in a report on Friday, March 3rd. Craig Hallum assumed coverage on shares of Patterson Companies in a report on Tuesday, April 11th. They issued a “hold” rating on the stock. Finally, Jefferies Group LLC restated a “hold” rating and issued a $40.00 price target on shares of Patterson Companies in a report on Monday, May 15th. Three analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $43.63.

In related news, insider Ann B. Gugino sold 750 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $43.83, for a total value of $32,872.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Scott P. Anderson sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $46.76, for a total value of $467,600.00. The disclosure for this sale can be found here. Corporate insiders own 0.46% of the company’s stock.

About Patterson Companies

Patterson Companies, Inc is a value-added distributor focused on providing a customer experience to professionals in the dental and animal health markets. The Company operates through three segments: dental, animal health and corporate. Dental and Animal health are strategic business units that offer similar products and services to different customer bases.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:PDCO”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

Want to see what other hedge funds are holding PDCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Patterson Companies, Inc. (NASDAQ:PDCO).

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