Patterson Cos. (NASDAQ:PDCO)‘s stock had its “neutral” rating reaffirmed by equities researchers at Jefferies Group in a research report issued on Friday. They presently have a $48.00 target price on the stock. Jefferies Group’s price target indicates a potential upside of 22.26% from the stock’s current price.
Other equities analysts have also issued research reports about the stock. Evercore ISI dropped their price target on shares of Patterson Cos. to $39.00 in a research report on Tuesday. Northcoast Research reaffirmed a “buy” rating on shares of Patterson Cos. in a research report on Tuesday, November 1st. TheStreet raised shares of Patterson Cos. from a “hold” rating to a “buy” rating in a research report on Friday, November 11th. Zacks Investment Research raised shares of Patterson Cos. from a “sell” rating to a “hold” rating in a research report on Monday, August 22nd. Finally, Robert W. Baird set a $48.00 price target on shares of Patterson Cos. and gave the stock a “hold” rating in a research report on Tuesday. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $46.67.
Patterson Cos. (NASDAQ:PDCO) traded down 1.643% during midday trading on Friday, hitting $38.615. 500,536 shares of the stock traded hands. The company’s 50-day moving average is $45.11 and its 200-day moving average is $46.67. Patterson Cos. has a one year low of $36.46 and a one year high of $50.40. The company has a market cap of $3.69 billion, a PE ratio of 19.041 and a beta of 0.97.
Patterson Cos. (NASDAQ:PDCO) last issued its quarterly earnings results on Tuesday, November 22nd. The company reported $0.56 EPS for the quarter, missing the consensus estimate of $0.60 by $0.04. Patterson Cos. had a return on equity of 17.16% and a net margin of 3.69%. The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same period last year, the company posted $0.56 EPS. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. Equities research analysts expect that Patterson Cos. will post $2.57 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, October 28th. Investors of record on Friday, October 14th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date was Wednesday, October 12th. Patterson Cos.’s payout ratio is 44.65%.
In related news, insider Ann B. Gugino sold 750 shares of the firm’s stock in a transaction on Monday, August 29th. The shares were sold at an average price of $46.22, for a total transaction of $34,665.00. Following the completion of the sale, the insider now directly owns 40,153 shares of the company’s stock, valued at approximately $1,855,871.66. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.46% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in PDCO. Adage Capital Partners GP L.L.C. purchased a new stake in Patterson Cos. during the first quarter worth $2,354,000. Legal & General Group Plc increased its position in Patterson Cos. by 1.7% in the first quarter. Legal & General Group Plc now owns 455,681 shares of the company’s stock worth $21,198,000 after buying an additional 7,468 shares during the period. Arizona State Retirement System increased its position in Patterson Cos. by 2.0% in the first quarter. Arizona State Retirement System now owns 71,023 shares of the company’s stock worth $3,305,000 after buying an additional 1,400 shares during the period. First Republic Investment Management Inc. increased its position in Patterson Cos. by 10.4% in the first quarter. First Republic Investment Management Inc. now owns 26,058 shares of the company’s stock worth $1,213,000 after buying an additional 2,462 shares during the period. Finally, Toth Financial Advisory Corp increased its position in Patterson Cos. by 3.1% in the second quarter. Toth Financial Advisory Corp now owns 102,899 shares of the company’s stock worth $4,928,000 after buying an additional 3,088 shares during the period. 78.44% of the stock is owned by institutional investors and hedge funds.
About Patterson Cos.