Patterson Companies, Inc. (PDCO) Position Boosted by California Public Employees Retirement System
California Public Employees Retirement System increased its position in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 2.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 256,362 shares of the company’s stock after buying an additional 6,700 shares during the period. California Public Employees Retirement System owned 0.27% of Patterson Companies worth $12,036,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. OLD Mutual Customised Solutions Proprietary Ltd. increased its holdings in Patterson Companies by 27.8% during the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,300 shares of the company’s stock worth $104,000 after buying an additional 500 shares during the last quarter. Invictus RG acquired a new position in Patterson Companies during the first quarter worth $119,000. Commonwealth Bank of Australia increased its holdings in 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 last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in 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 last quarter. Finally, Nordea Investment Management AB increased its holdings in Patterson Companies by 48.4% during the first quarter. Nordea Investment Management AB now owns 3,735 shares of the company’s stock worth $169,000 after buying an additional 1,218 shares during the last quarter. Institutional investors and hedge funds own 88.73% of the company’s stock.
In other news, insider Ann B. Gugino sold 750 shares of the stock in a transaction on Tuesday, July 11th. The stock was sold at an average price of $42.40, for a total transaction 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 currently owned by corporate insiders.
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A number of brokerages recently weighed in on PDCO. Royal Bank Of Canada began coverage on shares of Patterson Companies in a report on Tuesday, September 19th. They set a “sector perform” rating and a $42.00 target price on the stock. Stifel Nicolaus reduced their price objective on shares of Patterson Companies from $39.00 to $34.00 and set a “sell” rating for the company in a research report on Tuesday, August 15th. BidaskClub cut shares of Patterson Companies from a “sell” rating to a “strong sell” rating in a research report on Friday, August 4th. Cleveland Research reaffirmed a “hold” rating on shares of Patterson Companies in a research report on Tuesday, August 22nd. Finally, Credit Suisse Group AG reaffirmed an “outperform” rating and set a $50.00 price objective (up from $45.00) on shares of Patterson Companies in a research report on Thursday, July 13th. Five equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. Patterson Companies currently has a consensus rating of “Hold” and a consensus target price of $41.70.
Shares of Patterson Companies, Inc. (NASDAQ PDCO) opened at 38.50 on Friday. The stock has a 50 day moving average of $38.15 and a 200-day moving average of $42.56. The company has a market cap of $3.59 billion, a PE ratio of 22.37 and a beta of 0.97. Patterson Companies, Inc. has a 12 month low of $35.93 and a 12 month high of $49.26.
Patterson Companies (NASDAQ:PDCO) last posted its quarterly earnings results on Thursday, August 24th. The company reported $0.44 earnings per share for the quarter, hitting the consensus estimate of $0.44. The company had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.34 billion. Patterson Companies had a return on equity of 15.51% and a net margin of 2.93%. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.51 EPS. Equities analysts forecast that Patterson Companies, Inc. will post $2.30 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, October 13th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $1.04 annualized dividend and a dividend yield of 2.70%. Patterson Companies’s payout ratio is 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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