AHL Partners LLP Sells 67,910 Shares of Patterson Companies, Inc. (PDCO)
AHL Partners LLP lowered its stake in Patterson Companies, Inc. (NASDAQ:PDCO) by 27.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 177,990 shares of the company’s stock after selling 67,910 shares during the period. AHL Partners LLP owned approximately 0.19% of Patterson Companies worth $8,356,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in PDCO. Russell Investments Group Ltd. lifted its holdings in shares of Patterson Companies by 178.1% during the first quarter. Russell Investments Group Ltd. now owns 68,919 shares of the company’s stock worth $3,118,000 after purchasing an additional 44,136 shares during the period. Sei Investments Co. grew its position in Patterson Companies by 4.3% in the 1st quarter. Sei Investments Co. now owns 14,880 shares of the company’s stock valued at $673,000 after buying an additional 608 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in Patterson Companies in the 1st quarter valued at $276,000. Ameriprise Financial Inc. grew its position in Patterson Companies by 25.8% in the 1st quarter. Ameriprise Financial Inc. now owns 49,966 shares of the company’s stock valued at $2,261,000 after buying an additional 10,250 shares during the last quarter. Finally, Nordea Investment Management AB grew its position in Patterson Companies by 48.4% in the 1st quarter. Nordea Investment Management AB now owns 3,735 shares of the company’s stock valued at $169,000 after buying an additional 1,218 shares during the last quarter. 88.73% of the stock is currently owned by institutional investors and hedge funds.
PDCO has been the subject of a number of analyst reports. Stifel Nicolaus downgraded shares of Patterson Companies from a “hold” rating to a “sell” rating and cut their price objective for the stock from $47.43 to $39.00 in a research report on Thursday, July 6th. BidaskClub cut shares of Patterson Companies from a “buy” rating to a “hold” rating in a research note on Saturday, July 8th. Zacks Investment Research raised shares of Patterson Companies from a “sell” rating to a “hold” rating in a report on Wednesday, September 6th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $50.00 target price (up previously from $45.00) on shares of Patterson Companies in a report on Thursday, July 13th. Finally, UBS AG lowered shares of Patterson Companies from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $44.50 to $40.00 in a research note on Tuesday, July 11th. Five analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $42.45.
Shares of Patterson Companies, Inc. (NASDAQ PDCO) traded down 0.3272% during mid-day trading on Wednesday, hitting $38.5634. 51,242 shares of the company traded hands. The firm has a 50-day moving average price of $38.07 and a 200 day moving average price of $42.62. The firm has a market cap of $3.60 billion, a price-to-earnings ratio of 22.4076 and a beta of 0.97. Patterson Companies, Inc. has a 52-week low of $35.93 and a 52-week high of $49.26.
Patterson Companies (NASDAQ:PDCO) last released its quarterly earnings results on Thursday, August 24th. The company reported $0.44 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.44. The company had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Patterson Companies had a return on equity of 15.51% and a net margin of 2.93%. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.51 earnings per share. Equities research analysts anticipate that Patterson Companies, Inc. will post $2.30 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, October 13th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date is Thursday, October 12th. Patterson Companies’s dividend payout ratio is currently 60.47%.
In related news, insider Ann B. Gugino sold 750 shares of the company’s stock in a transaction dated Tuesday, July 11th. The shares were sold at an average price of $42.40, for a total value of $31,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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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