Sumitomo Mitsui Asset Management Company LTD Continues to Hold Position in Patterson Companies, Inc. (NASDAQ:PDCO)
Sumitomo Mitsui Asset Management Company LTD continued to hold its stake in Patterson Companies, Inc. (NASDAQ:PDCO) during the second quarter, Holdings Channel reports. The firm owned 6,479 shares of the company’s stock at the end of the second quarter. Sumitomo Mitsui Asset Management Company LTD’s holdings in Patterson Companies were worth $304,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of the stock. OLD Mutual Customised Solutions Proprietary Ltd. boosted its position in Patterson Companies by 27.8% in 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 in the last quarter. Invictus RG acquired a new position in Patterson Companies during the first quarter worth approximately $119,000. Benjamin F. Edwards & Company Inc. boosted its position in Patterson Companies by 29.3% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 3,079 shares of the company’s stock worth $139,000 after buying an additional 698 shares in the last quarter. Nordea Investment Management AB boosted its position in Patterson Companies by 48.4% in 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 in the last quarter. Finally, Moreno Evelyn V acquired a new position in Patterson Companies during the second quarter worth approximately $202,000. Institutional investors and hedge funds own 89.63% of the company’s stock.
Patterson Companies, Inc. (NASDAQ PDCO) opened at 37.98 on Friday. The firm has a market capitalization of $3.56 billion, a PE ratio of 21.22 and a beta of 0.95. Patterson Companies, Inc. has a 1-year low of $36.46 and a 1-year high of $49.26. The firm’s 50-day moving average price is $43.07 and its 200-day moving average price is $44.07.
Patterson Companies (NASDAQ:PDCO) last released its earnings results on Thursday, May 25th. The company reported $0.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.04. The firm had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Patterson Companies had a net margin of 3.06% and a return on equity of 15.94%. Patterson Companies’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the previous year, the company earned $0.77 EPS. On average, equities research analysts predict that Patterson Companies, Inc. will post $2.32 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 28th. Shareholders of record on Friday, July 14th were paid a $0.26 dividend. The ex-dividend date was Wednesday, July 12th. This represents a $1.04 annualized dividend and a yield of 2.74%. Patterson Companies’s payout ratio is currently 58.10%.
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A number of research analysts recently commented on PDCO shares. Credit Suisse Group reiterated an “outperform” rating and issued a $50.00 price objective (up from $45.00) on shares of Patterson Companies in a report on Thursday, July 13th. BidaskClub upgraded Patterson Companies from a “hold” rating to a “buy” rating in a report on Thursday, June 15th. Zacks Investment Research cut Patterson Companies from a “buy” rating to a “hold” rating in a report on Monday, May 15th. Jefferies Group LLC reiterated a “hold” rating and issued a $40.00 price objective on shares of Patterson Companies in a report on Friday, May 5th. Finally, Stifel Nicolaus cut Patterson Companies from a “hold” rating to a “sell” rating and decreased their price objective for the company from $47.43 to $39.00 in a report on Thursday, July 6th. Six investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. Patterson Companies presently has a consensus rating of “Hold” and a consensus target price of $43.78.
In other news, insider Ann B. Gugino sold 750 shares of the business’s stock in a transaction on Tuesday, July 11th. The shares were sold at an average price of $42.40, for a total transaction of $31,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Scott P. Anderson sold 10,000 shares of the business’s stock in a transaction on Wednesday, June 14th. The shares were 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. Insiders sold a total of 11,500 shares of company stock valued at $532,273 over the last ninety days. 0.46% of the stock is owned by corporate 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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