Patterson Companies, Inc. (NASDAQ:PDCO) Receives Average Recommendation of “Hold” from Brokerages
Shares of Patterson Companies, Inc. (NASDAQ:PDCO) have been given a consensus recommendation of “Hold” by the fourteen ratings firms that are covering the firm, Marketbeat.com reports. Six equities research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $43.57.
Several equities research analysts recently issued reports on PDCO shares. Stifel Nicolaus cut shares of Patterson Companies from a “hold” rating to a “sell” rating and dropped their target price for the stock from $47.43 to $39.00 in a report on Thursday, July 6th. Zacks Investment Research cut shares of Patterson Companies from a “buy” rating to a “hold” rating in a report on Monday, May 15th. BidaskClub cut shares of Patterson Companies from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. UBS AG cut shares of Patterson Companies from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $44.50 to $40.00 in a report on Tuesday, July 11th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $40.00 price target on shares of Patterson Companies in a research note on Monday, May 15th.
In related news, Director Scott P. Anderson sold 10,000 shares of Patterson Companies stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $46.76, for a total transaction of $467,600.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Ann B. Gugino sold 750 shares of Patterson Companies stock in a transaction on Tuesday, July 11th. The shares were sold at an average price of $42.40, for a total transaction of $31,800.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,500 shares of company stock worth $532,273. 0.46% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in PDCO. Parnassus Investments CA increased its stake in shares of Patterson Companies by 6.1% in the first quarter. Parnassus Investments CA now owns 8,396,864 shares of the company’s stock worth $370,312,000 after buying an additional 481,947 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Patterson Companies by 2.7% in the first quarter. Vanguard Group Inc. now owns 8,204,738 shares of the company’s stock worth $371,100,000 after buying an additional 214,691 shares in the last quarter. BlackRock Inc. increased its stake in shares of Patterson Companies by 2,886.7% in the first quarter. BlackRock Inc. now owns 6,715,909 shares of the company’s stock worth $303,760,000 after buying an additional 6,491,048 shares in the last quarter. State Street Corp increased its stake in shares of Patterson Companies by 1.8% in the first quarter. State Street Corp now owns 4,180,364 shares of the company’s stock worth $189,078,000 after buying an additional 75,261 shares in the last quarter. Finally, Fairpointe Capital LLC increased its stake in shares of Patterson Companies by 25.7% in the first quarter. Fairpointe Capital LLC now owns 3,494,234 shares of the company’s stock worth $158,044,000 after buying an additional 713,773 shares in the last quarter. Institutional investors own 89.63% of the company’s stock.
ILLEGAL ACTIVITY WARNING: “Patterson Companies, Inc. (NASDAQ:PDCO) Receives Average Recommendation of “Hold” from Brokerages” was published by Watch List News and is the sole property of of Watch List News. If you are reading this piece on another website, it was illegally stolen and reposted in violation of United States & international copyright and trademark law. The correct version of this piece can be viewed at https://www.watchlistnews.com/patterson-companies-inc-nasdaqpdco-receives-average-recommendation-of-hold-from-brokerages/1478327.html.
Patterson Companies (NASDAQ PDCO) opened at 37.98 on Friday. Patterson Companies has a 1-year low of $36.46 and a 1-year high of $49.26. The company has a 50-day moving average price of $43.07 and a 200 day moving average price of $44.07. The stock has a market cap of $3.56 billion, a P/E ratio of 21.22 and a beta of 0.95.
Patterson Companies (NASDAQ:PDCO) last issued its earnings results on Thursday, May 25th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.04. Patterson Companies had a net margin of 3.06% and a return on equity of 15.94%. The company had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter last year, the company posted $0.77 earnings per share. The firm’s quarterly revenue was down .6% on a year-over-year basis. Equities analysts expect that Patterson Companies will post $2.32 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 28th. Investors of record on Friday, July 14th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date was Wednesday, July 12th. Patterson Companies’s dividend payout ratio (DPR) is 58.10%.
About Patterson Companies
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.
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.