New York State Common Retirement Fund Sells 5,934 Shares of Patterson Companies, Inc. (PDCO)
New York State Common Retirement Fund cut its position in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 1.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 389,952 shares of the company’s stock after selling 5,934 shares during the quarter. New York State Common Retirement Fund owned approximately 0.42% of Patterson Companies worth $18,308,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. BRYN MAWR TRUST Co grew its holdings in shares of Patterson Companies by 0.7% during the second quarter. BRYN MAWR TRUST Co now owns 98,096 shares of the company’s stock worth $4,606,000 after buying an additional 666 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in Patterson Companies by 1.0% in the second quarter. PNC Financial Services Group Inc. now owns 79,602 shares of the company’s stock valued at $3,737,000 after purchasing an additional 780 shares during the period. Amalgamated Bank grew its holdings in Patterson Companies by 19.8% in the second quarter. Amalgamated Bank now owns 16,246 shares of the company’s stock valued at $763,000 after purchasing an additional 2,684 shares during the period. Bahl & Gaynor Inc. grew its holdings in Patterson Companies by 72.5% in the second quarter. Bahl & Gaynor Inc. now owns 111,368 shares of the company’s stock valued at $4,569,000 after purchasing an additional 46,803 shares during the period. Finally, Nationwide Fund Advisors grew its holdings in Patterson Companies by 0.3% in the second quarter. Nationwide Fund Advisors now owns 84,243 shares of the company’s stock valued at $3,955,000 after purchasing an additional 253 shares during the period. Institutional investors and hedge funds own 88.73% of the company’s stock.
Shares of Patterson Companies, Inc. (NASDAQ:PDCO) opened at 38.65 on Friday. The stock has a market capitalization of $3.61 billion, a P/E ratio of 22.46 and a beta of 0.97. Patterson Companies, Inc. has a 1-year low of $35.93 and a 1-year high of $49.26. The firm’s 50-day moving average is $38.25 and its 200 day moving average is $43.09.
Patterson Companies (NASDAQ:PDCO) last posted its quarterly 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 business had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.34 billion. Patterson Companies had a net margin of 2.93% and a return on equity of 15.51%. The firm’s revenue was down 1.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.51 earnings per share. On average, analysts expect that Patterson Companies, Inc. will post $2.30 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, October 13th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $1.04 dividend on an annualized basis and a yield of 2.69%. Patterson Companies’s dividend payout ratio is currently 60.47%.
PDCO has been the subject of a number of recent analyst reports. BidaskClub upgraded shares of Patterson Companies from a “hold” rating to a “buy” rating in a report on Thursday, June 15th. Robert W. Baird restated a “buy” rating and issued a $44.00 target price on shares of Patterson Companies in a report on Tuesday, September 26th. TheStreet downgraded shares of Patterson Companies from a “b-” rating to a “c” rating in a report on Thursday, August 24th. Morgan Stanley initiated coverage on shares of Patterson Companies in a report on Thursday, September 21st. They issued an “equal weight” rating and a $42.00 target price for the company. Finally, Zacks Investment Research upgraded shares of Patterson Companies from a “sell” rating to a “hold” rating in a report on Wednesday, September 6th. Five investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $42.45.
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In related news, insider Ann B. Gugino sold 750 shares of the stock in a transaction that occurred on Tuesday, July 11th. The stock was 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 SEC, which is available at this link. Corporate insiders own 0.46% of the company’s stock.
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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