Patterson Companies, Inc. (PDCO) Shares Sold by Cipher Capital LP
Cipher Capital LP lessened its stake in Patterson Companies, Inc. (NASDAQ:PDCO) by 22.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 50,931 shares of the company’s stock after selling 14,894 shares during the quarter. Cipher Capital LP owned about 0.05% of Patterson Companies worth $1,968,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in PDCO. Advisory Services Network LLC lifted its holdings in shares of Patterson Companies by 423.4% during the 2nd quarter. Advisory Services Network LLC now owns 2,523 shares of the company’s stock valued at $118,000 after acquiring an additional 2,041 shares in the last quarter. Commonwealth Bank of Australia lifted its holdings in shares of Patterson Companies by 15.9% during the 2nd quarter. Commonwealth Bank of Australia now owns 3,027 shares of the company’s stock valued at $140,000 after acquiring an additional 415 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Patterson Companies by 4.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,576 shares of the company’s stock valued at $168,000 after acquiring an additional 150 shares in the last quarter. Palisade Asset Management LLC acquired a new position in shares of Patterson Companies during the 2nd quarter valued at $188,000. Finally, Moreno Evelyn V acquired a new position in shares of Patterson Companies during the 2nd quarter valued at $202,000. Institutional investors own 88.73% of the company’s stock.
In other Patterson Companies news, CFO Ann B. Gugino sold 750 shares of the business’s stock in a transaction dated Wednesday, October 11th. The shares were sold at an average price of $36.73, for a total transaction of $27,547.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.46% of the company’s stock.
Patterson Companies, Inc. (PDCO) opened at $34.80 on Wednesday. Patterson Companies, Inc. has a fifty-two week low of $32.07 and a fifty-two week high of $48.29. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.01 and a quick ratio of 1.15. The company has a market cap of $3,334.92, a PE ratio of 15.34, a PEG ratio of 1.79 and a beta of 0.96.
Patterson Companies (NASDAQ:PDCO) last posted its quarterly earnings results on Tuesday, November 21st. The company reported $0.51 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.03). Patterson Companies had a net margin of 2.93% and a return on equity of 15.51%. The business had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same period last year, the firm posted $0.56 earnings per share. The company’s quarterly revenue was down 2.3% on a year-over-year basis. analysts anticipate that Patterson Companies, Inc. will post 2.29 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, October 27th. Shareholders of record on Friday, October 13th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date was Thursday, October 12th. Patterson Companies’s payout ratio is 60.47%.
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Several research firms recently weighed in on PDCO. Stifel Nicolaus upgraded shares of Patterson Companies from a “sell” rating to a “hold” rating and set a $34.00 target price on the stock in a report on Wednesday, November 15th. Robert W. Baird reaffirmed a “buy” rating and set a $44.00 price target on shares of Patterson Companies in a research note on Friday, November 10th. Zacks Investment Research raised shares of Patterson Companies from a “sell” rating to a “hold” rating in a research note on Monday, October 23rd. Piper Jaffray Companies started coverage on shares of Patterson Companies in a research note on Thursday, October 19th. They set a “neutral” rating and a $41.00 price target on the stock. Finally, Morgan Stanley started coverage on shares of Patterson Companies in a research note on Thursday, September 21st. They set an “equal weight” rating and a $42.00 price target on the stock. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $41.64.
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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