Clinton Group Inc. acquired a new stake in Patterson Companies, Inc. (NASDAQ:PDCO) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 11,790 shares of the company’s stock, valued at approximately $554,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Jarislowsky Fraser Ltd increased its stake in Patterson Companies by 0.3% in the 2nd quarter. Jarislowsky Fraser Ltd now owns 14,321 shares of the company’s stock valued at $672,000 after buying an additional 42 shares during the period. Nomura Asset Management Co. Ltd. increased its stake in Patterson Companies by 0.7% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 10,520 shares of the company’s stock valued at $476,000 after buying an additional 70 shares during the period. Lowe Brockenbrough & Co. Inc. increased its stake in Patterson Companies by 0.6% in the 2nd quarter. Lowe Brockenbrough & Co. Inc. now owns 12,475 shares of the company’s stock valued at $586,000 after buying an additional 70 shares during the period. Meeder Asset Management Inc. increased its stake in Patterson Companies by 0.6% in the 2nd quarter. Meeder Asset Management Inc. now owns 20,363 shares of the company’s stock valued at $956,000 after buying an additional 112 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its stake in Patterson Companies by 4.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,576 shares of the company’s stock valued at $168,000 after buying an additional 150 shares during the period. 88.73% of the stock is currently owned by institutional investors.

Shares of Patterson Companies, Inc. (NASDAQ PDCO) opened at 37.87 on Friday. The company has a 50 day moving average of $38.19 and a 200 day moving average of $42.50. Patterson Companies, Inc. has a 52-week low of $35.93 and a 52-week high of $49.26. The stock has a market capitalization of $3.54 billion, a price-to-earnings ratio of 22.00 and a beta of 0.97.

Patterson Companies (NASDAQ:PDCO) last released its earnings results on Thursday, August 24th. The company reported $0.44 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.44. The firm had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.34 billion. Patterson Companies had a return on equity of 15.51% and a net margin of 2.93%. Patterson Companies’s revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.51 earnings per share. Analysts predict that Patterson Companies, Inc. will post $2.30 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, October 13th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date is Thursday, October 12th. Patterson Companies’s payout ratio is currently 60.47%.

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Several equities analysts have issued reports on PDCO shares. BidaskClub raised shares of Patterson Companies from a “hold” rating to a “buy” rating in a research note on Thursday, June 15th. Stifel Nicolaus cut shares of Patterson Companies from a “hold” rating to a “sell” rating and lowered their price target for the stock from $47.43 to $39.00 in a research note on Thursday, July 6th. UBS AG cut shares of Patterson Companies from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $44.50 to $40.00 in a research note on Tuesday, July 11th. Credit Suisse Group reaffirmed an “outperform” rating and set a $50.00 price target (up from $45.00) on shares of Patterson Companies in a research note on Thursday, July 13th. Finally, Craig Hallum reaffirmed a “sell” rating and set a $41.00 price target (down from $46.00) on shares of Patterson Companies in a research note on Thursday, August 17th. They noted that the move was a valuation call. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $41.70.

In related news, insider Ann B. Gugino sold 750 shares of Patterson Companies stock in a transaction dated Tuesday, July 11th. The stock was sold at an average price of $42.40, for a total transaction of $31,800.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.46% of the stock is owned by insiders.

Patterson Companies Company Profile

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.

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

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