Patterson Companies, Inc. (PDCO) Shares Sold by Cadence Capital Management LLC
Cadence Capital Management LLC reduced its stake in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 5.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,868 shares of the company’s stock after selling 623 shares during the period. Cadence Capital Management LLC’s holdings in Patterson Companies were worth $463,000 as of its most recent filing with the SEC.
Several other hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in Patterson Companies by 2,886.7% in the first quarter. BlackRock Inc. now owns 6,715,909 shares of the company’s stock valued at $303,760,000 after buying an additional 6,491,048 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in Patterson Companies during the first quarter valued at $128,254,000. Fairpointe Capital LLC raised its stake in Patterson Companies by 25.7% in the first quarter. Fairpointe Capital LLC now owns 3,494,234 shares of the company’s stock valued at $158,044,000 after buying an additional 713,773 shares in the last quarter. Shapiro Capital Management LLC raised its stake in Patterson Companies by 81.1% in the first quarter. Shapiro Capital Management LLC now owns 1,433,460 shares of the company’s stock valued at $64,835,000 after buying an additional 642,050 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Patterson Companies by 2.7% in the first quarter. Vanguard Group Inc. now owns 8,204,738 shares of the company’s stock valued at $371,100,000 after buying an additional 214,691 shares in the last quarter. Institutional investors own 88.59% of the company’s stock.
Shares of Patterson Companies, Inc. (PDCO) opened at 38.29 on Thursday. The company has a market cap of $3.57 billion, a price-to-earnings ratio of 22.25 and a beta of 0.95. Patterson Companies, Inc. has a 52 week low of $35.93 and a 52 week high of $49.26. The firm’s 50-day moving average is $40.34 and its 200-day moving average is $43.74.
Patterson Companies (NASDAQ:PDCO) last announced its earnings results on Thursday, August 24th. The company reported $0.44 earnings per share (EPS) for the quarter, meeting 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 period in the prior year, the company posted $0.51 EPS. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. Equities research analysts predict that Patterson Companies, Inc. will post $2.29 earnings per share for the current year.
Several analysts have recently weighed in on PDCO shares. Stifel Nicolaus lowered shares of Patterson Companies from a “hold” rating to a “sell” rating and lowered their price objective for the company from $47.43 to $39.00 in a research note on Thursday, July 6th. BidaskClub lowered shares of Patterson Companies from a “buy” rating to a “hold” rating in a research note on Saturday, July 8th. Zacks Investment Research lowered shares of Patterson Companies from a “buy” rating to a “hold” rating in a research note on Monday, May 15th. Credit Suisse Group restated an “outperform” rating and set a $50.00 price target (up previously from $45.00) on shares of Patterson Companies in a research note on Thursday, July 13th. Finally, UBS AG lowered shares of Patterson Companies from a “neutral” rating to a “sell” rating and decreased their price target for the company from $44.50 to $40.00 in a research note on Tuesday, July 11th. Five equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $42.89.
In related news, insider Ann B. Gugino sold 750 shares of the company’s stock in a transaction dated Tuesday, July 11th. The stock was sold at an average price of $42.40, for a total transaction of $31,800.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Scott P. Anderson sold 10,000 shares of the company’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $46.76, for a total value of $467,600.00. The disclosure for this sale can be found here. Corporate insiders own 0.46% of the company’s stock.
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.
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