Trexquant Investment LP Invests $742,000 in Patterson Companies, Inc. (PDCO)
Trexquant Investment LP purchased a new position in shares of Patterson Companies, Inc. (NASDAQ:PDCO) during the second quarter, Holdings Channel reports. The institutional investor purchased 15,800 shares of the company’s stock, valued at approximately $742,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in PDCO. BlackRock Inc. increased its position in shares of 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 during the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of Patterson Companies during the first quarter valued at $128,254,000. Fairpointe Capital LLC increased its position in shares of 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 during the last quarter. Shapiro Capital Management LLC increased its position in shares of 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 during the last quarter. Finally, Parnassus Investments CA increased its position in shares of Patterson Companies by 6.1% in the first quarter. Parnassus Investments CA now owns 8,396,864 shares of the company’s stock valued at $370,312,000 after buying an additional 481,947 shares during the last quarter. 89.63% of the stock is owned by institutional investors.
Shares of Patterson Companies, Inc. (NASDAQ:PDCO) opened at 37.47 on Friday. The stock has a market capitalization of $3.52 billion, a PE ratio of 20.93 and a beta of 0.95. The company’s 50 day moving average price is $43.35 and its 200 day moving average price is $44.10. Patterson Companies, Inc. has a 12 month low of $36.46 and a 12 month high of $49.26.
Patterson Companies (NASDAQ:PDCO) last posted its quarterly earnings results on Thursday, May 25th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.65 by $0.04. The business had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Patterson Companies had a return on equity of 15.94% and a net margin of 3.06%. The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same period last year, the firm earned $0.77 EPS. Equities analysts anticipate that Patterson Companies, Inc. will post $2.32 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 28th. Investors of record on Friday, July 14th were issued a dividend of $0.26 per share. The ex-dividend date was Wednesday, July 12th. This represents a $1.04 annualized dividend and a yield of 2.78%. Patterson Companies’s dividend payout ratio is presently 58.10%.
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Several research analysts have recently weighed in on the company. BidaskClub downgraded Patterson Companies from a “sell” rating to a “strong sell” rating in a research note on Friday, August 4th. Credit Suisse Group reaffirmed an “outperform” rating and set a $50.00 target price (up from $45.00) on shares of Patterson Companies in a research note on Thursday, July 13th. UBS AG downgraded Patterson Companies from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $44.50 to $40.00 in a research note on Tuesday, July 11th. Stifel Nicolaus downgraded Patterson Companies from a “hold” rating to a “sell” rating and reduced their target price for the stock from $47.43 to $39.00 in a research note on Thursday, July 6th. Finally, Zacks Investment Research raised Patterson Companies from a “sell” rating to a “hold” rating in a research note on Wednesday, May 31st. Six 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’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $43.78.
In related news, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ann B. Gugino sold 750 shares of Patterson Companies stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $43.83, for a total value of $32,872.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,500 shares of company stock valued at $532,273. 0.46% of the stock is currently 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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