Patterson Companies, Inc. (PDCO) Holdings Lessened by Ameriprise Financial Inc.
Ameriprise Financial Inc. trimmed its holdings in Patterson Companies, Inc. (NASDAQ:PDCO) by 20.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 39,833 shares of the company’s stock after selling 10,133 shares during the period. Ameriprise Financial Inc.’s holdings in Patterson Companies were worth $1,869,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. OLD Mutual Customised Solutions Proprietary Ltd. raised its position in shares of Patterson Companies by 27.8% in the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,300 shares of the company’s stock valued at $104,000 after purchasing an additional 500 shares in the last quarter. Commonwealth Bank of Australia raised its position in shares of Patterson Companies by 15.9% in the 2nd quarter. Commonwealth Bank of Australia now owns 3,027 shares of the company’s stock valued at $140,000 after purchasing an additional 415 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of 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 purchasing an additional 150 shares in the last quarter. Palisade Asset Management LLC acquired a new position in shares of Patterson Companies in the 2nd quarter valued at approximately $188,000. Finally, Moreno Evelyn V acquired a new position in shares of Patterson Companies in the 2nd quarter valued at approximately $202,000. 88.90% of the stock is currently owned by institutional investors.
In other news, CFO Ann B. Gugino sold 750 shares of Patterson Companies stock in a transaction that occurred on Wednesday, October 11th. The stock was sold at an average price of $36.73, for a total transaction of $27,547.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.46% of the stock is currently owned by company insiders.
PDCO has been the topic of a number of recent analyst reports. TheStreet lowered Patterson Companies from a “b-” rating to a “c” rating in a research report on Thursday, August 24th. Credit Suisse Group reissued an “outperform” rating and set a $50.00 price target (up from $45.00) on shares of Patterson Companies in a research report on Thursday, July 13th. Zacks Investment Research raised Patterson Companies from a “sell” rating to a “hold” rating in a research report on Wednesday, September 6th. Morgan Stanley began coverage on Patterson Companies in a research report on Thursday, September 21st. They set an “equal weight” rating and a $42.00 price target on the stock. Finally, BidaskClub lowered Patterson Companies from a “sell” rating to a “strong sell” rating in a research report on Friday, August 4th. Five investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $41.64.
Patterson Companies (NASDAQ:PDCO) last announced its quarterly earnings data on Thursday, August 24th. The company reported $0.44 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.44. Patterson Companies had a return on equity of 15.51% and a net margin of 2.93%. The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter last year, the firm earned $0.51 EPS. Patterson Companies’s revenue for the quarter was down 1.4% compared to the same quarter last year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 27th. Stockholders of record on Friday, October 13th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 2.89%. The ex-dividend date of this dividend was Thursday, October 12th. Patterson Companies’s payout ratio is presently 60.47%.
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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