Patterson Companies, Inc. (PDCO) Shares Sold by Wrapmanager Inc.
Wrapmanager Inc. decreased its stake in Patterson Companies, Inc. (NASDAQ:PDCO) by 0.4% during the second quarter, Holdings Channel reports. The fund owned 9,174 shares of the company’s stock after selling 33 shares during the period. Wrapmanager Inc.’s holdings in Patterson Companies were worth $431,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in PDCO. LMR Partners LLP bought a new stake in shares of Patterson Companies during the second quarter valued at approximately $778,000. Ridgewood Investments LLC increased its stake in Patterson Companies by 3.6% in the second quarter. Ridgewood Investments LLC now owns 4,601 shares of the company’s stock worth $216,000 after buying an additional 159 shares in the last quarter. Advisors Asset Management Inc. increased its stake in Patterson Companies by 4.3% in the second quarter. Advisors Asset Management Inc. now owns 25,886 shares of the company’s stock worth $1,215,000 after buying an additional 1,057 shares in the last quarter. DekaBank Deutsche Girozentrale increased its stake in Patterson Companies by 17.8% in the second quarter. DekaBank Deutsche Girozentrale now owns 10,333 shares of the company’s stock worth $507,000 after buying an additional 1,560 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in Patterson Companies by 4.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 389,552 shares of the company’s stock worth $18,290,000 after buying an additional 15,775 shares in the last quarter. 89.34% of the stock is owned by institutional investors and hedge funds.
Patterson Companies, Inc. (PDCO) opened at 37.90 on Tuesday. The firm has a market capitalization of $3.56 billion, a PE ratio of 21.17 and a beta of 0.95. Patterson Companies, Inc. has a 12 month low of $36.46 and a 12 month high of $49.26. The firm has a 50-day moving average of $42.79 and a 200 day moving average of $44.08.
Patterson Companies (NASDAQ:PDCO) last issued its earnings results on Thursday, May 25th. The company reported $0.69 EPS for the quarter, topping the 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 the consensus estimate of $1.46 billion. During the same period in the previous year, the firm earned $0.77 earnings per share. The firm’s revenue for the quarter was down .6% on a year-over-year basis. Equities research analysts forecast that Patterson Companies, Inc. will post $2.32 earnings per share for the current 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 $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.74%. The ex-dividend date was Wednesday, July 12th. Patterson Companies’s payout ratio is 58.10%.
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A number of analysts have issued reports on the stock. Stifel Nicolaus cut their price objective on shares of Patterson Companies from $39.00 to $34.00 and set a “sell” rating for the company in a report on Tuesday. BidaskClub downgraded shares of Patterson Companies from a “sell” rating to a “strong sell” rating in a report on Friday, August 4th. Jefferies Group LLC reissued a “hold” rating and issued a $40.00 price objective on shares of Patterson Companies in a report on Friday, May 5th. Zacks Investment Research raised shares of Patterson Companies from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Tuesday, May 2nd. Finally, Credit Suisse Group reissued an “outperform” rating and issued a $50.00 price objective (up previously from $45.00) on shares of Patterson Companies in a report on Thursday, July 13th. Six investment analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $43.22.
In related news, 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 value of $31,800.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Scott P. Anderson sold 10,000 shares of Patterson Companies stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $46.76, for a total transaction of $467,600.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,500 shares of company stock worth $532,273. 0.46% of the stock is owned by insiders.
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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