Confluence Investment Management LLC Has $9.05 Million Holdings in Patterson Companies, Inc. (PDCO)
Confluence Investment Management LLC grew its position in Patterson Companies, Inc. (NASDAQ:PDCO) by 3.7% during the 4th quarter, Holdings Channel reports. The firm owned 250,481 shares of the company’s stock after purchasing an additional 8,929 shares during the period. Confluence Investment Management LLC’s holdings in Patterson Companies were worth $9,049,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Advisory Services Network LLC lifted its stake in shares of Patterson Companies by 423.4% during the second quarter. Advisory Services Network LLC now owns 2,523 shares of the company’s stock worth $118,000 after buying an additional 2,041 shares during the period. Amica Retiree Medical Trust lifted its stake in shares of Patterson Companies by 433.8% during the third quarter. Amica Retiree Medical Trust now owns 2,989 shares of the company’s stock worth $116,000 after buying an additional 2,429 shares during the period. Commonwealth Bank of Australia lifted its stake in shares of Patterson Companies by 15.9% during the second quarter. Commonwealth Bank of Australia now owns 3,027 shares of the company’s stock worth $140,000 after buying an additional 415 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Patterson Companies by 4.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,576 shares of the company’s stock worth $168,000 after buying an additional 150 shares during the period. Finally, Sciencast Management LP acquired a new stake in shares of Patterson Companies during the second quarter worth $205,000. 93.99% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have recently commented on the stock. Morgan Stanley assumed coverage on shares of Patterson Companies in a research report on Thursday, September 21st. They set an “equal weight” rating and a $42.00 target price for the company. Stifel Nicolaus upgraded shares of Patterson Companies from a “sell” rating to a “hold” rating and set a $34.00 target price for the company in a research report on Wednesday, November 15th. Robert W. Baird restated a “buy” rating and set a $44.00 target price on shares of Patterson Companies in a research report on Tuesday, September 26th. Deutsche Bank assumed coverage on shares of Patterson Companies in a research report on Friday, December 8th. They set a “hold” rating and a $37.00 target price for the company. Finally, Piper Jaffray Companies assumed coverage on shares of Patterson Companies in a research report on Thursday, October 19th. They set a “neutral” rating and a $41.00 target price for the company. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $40.23.
Patterson Companies, Inc. (PDCO) opened at $37.78 on Tuesday. The firm has a market cap of $3,620.00, a PE ratio of 22.22, a price-to-earnings-growth ratio of 2.13 and a beta of 0.95. Patterson Companies, Inc. has a 1 year low of $32.07 and a 1 year high of $48.29. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.94 and a quick ratio of 1.10.
Patterson Companies (NASDAQ:PDCO) last issued its quarterly earnings data on Tuesday, November 21st. The company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.03). The firm had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.42 billion. Patterson Companies had a return on equity of 15.19% and a net margin of 2.84%. The company’s revenue was down 2.3% on a year-over-year basis. During the same quarter last year, the company posted $0.56 EPS. sell-side analysts expect that Patterson Companies, Inc. will post 2.08 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 26th. Shareholders of record on Friday, January 12th will be given a $0.26 dividend. The ex-dividend date of this dividend is Thursday, January 11th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.75%. Patterson Companies’s dividend payout ratio (DPR) is currently 61.18%.
In other news, Director John D. Buck acquired 2,834 shares of the firm’s stock in a transaction on Friday, November 24th. The stock was acquired at an average price of $34.93 per share, for a total transaction of $98,991.62. Following the completion of the transaction, the director now owns 54,627 shares in the company, valued at approximately $1,908,121.11. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Ann B. Gugino sold 750 shares of the company’s stock in a transaction dated Wednesday, October 11th. The stock was sold at an average price of $36.73, for a total transaction of $27,547.50. The disclosure for this sale can be found here. Corporate insiders own 0.46% of the company’s stock.
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Patterson Companies 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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