11,790 Shares in Patterson Companies, Inc. (PDCO) Acquired by Clinton Group Inc.
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%.
ILLEGAL ACTIVITY WARNING: This news story was first posted by Watch List News and is the property of of Watch List News. If you are accessing this news story on another site, it was copied illegally and reposted in violation of United States and international trademark & copyright laws. The legal version of this news story can be read at https://www.watchlistnews.com/11790-shares-in-patterson-companies-inc-pdco-acquired-by-clinton-group-inc/1617711.html.
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.
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).
Receive News & Ratings for Patterson Companies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Patterson Companies Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.