Advisors Asset Management Inc. boosted its position in Patterson Cos. (NASDAQ:PDCO) by 27.4% during the second quarter, Holdings Channel reports. The fund owned 3,523 shares of the company’s stock after buying an additional 757 shares during the period. Advisors Asset Management Inc.’s holdings in Patterson Cos. were worth $169,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of PDCO. BlackRock Group LTD increased its position in Patterson Cos. by 1.0% in the first quarter. BlackRock Group LTD now owns 772,348 shares of the company’s stock worth $35,936,000 after buying an additional 7,945 shares during the last quarter. BlackRock Fund Advisors increased its position in Patterson Cos. by 12.7% in the first quarter. BlackRock Fund Advisors now owns 2,542,819 shares of the company’s stock worth $118,317,000 after buying an additional 287,257 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its position in Patterson Cos. by 2.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,626,361 shares of the company’s stock worth $122,205,000 after buying an additional 72,962 shares during the last quarter. Columbia Partners L L C Investment Management purchased a new position in Patterson Cos. during the first quarter worth about $1,608,000. Finally, JPMorgan Chase & Co. increased its position in Patterson Cos. by 198.4% in the first quarter. JPMorgan Chase & Co. now owns 143,065 shares of the company’s stock worth $6,657,000 after buying an additional 95,122 shares during the last quarter. 77.29% of the stock is currently owned by institutional investors and hedge funds.
Patterson Cos. (NASDAQ:PDCO) traded down 0.35% during trading on Thursday, hitting $44.95. The stock had a trading volume of 273,777 shares. The stock’s 50 day moving average price is $46.06 and its 200 day moving average price is $46.60. The firm has a market cap of $4.29 billion, a P/E ratio of 22.16 and a beta of 0.94. Patterson Cos. has a 12-month low of $38.51 and a 12-month high of $50.40.
Patterson Cos. (NASDAQ:PDCO) last posted its quarterly earnings data on Thursday, August 25th. The company reported $0.51 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.51. The firm earned $1.32 billion during the quarter, compared to the consensus estimate of $1.35 billion. Patterson Cos. had a return on equity of 17.42% and a net margin of 3.52%. The firm’s revenue was up 15.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.47 EPS. On average, analysts anticipate that Patterson Cos. will post $2.67 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Friday, October 14th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend is Wednesday, October 12th. Patterson Cos.’s dividend payout ratio is presently 47.29%.
A number of research analysts have recently weighed in on PDCO shares. Zacks Investment Research lowered Patterson Cos. from a “hold” rating to a “sell” rating in a report on Wednesday, September 14th. Credit Suisse Group AG reissued a “buy” rating and issued a $55.00 price objective on shares of Patterson Cos. in a report on Monday, June 27th. Bank of America Corp. assumed coverage on Patterson Cos. in a report on Wednesday, August 24th. They issued an “underperform” rating and a $44.00 price objective on the stock. Evercore ISI reissued a “hold” rating and issued a $48.00 price objective (down from $49.00) on shares of Patterson Cos. in a report on Friday, August 26th. Finally, Off Wall Street assumed coverage on Patterson Cos. in a report on Monday, August 8th. They issued a “sell” rating on the stock. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. Patterson Cos. presently has an average rating of “Hold” and a consensus price target of $48.40.
In other Patterson Cos. news, insider Ann B. Gugino sold 750 shares of the business’s stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $46.22, for a total transaction of $34,665.00. Following the transaction, the insider now owns 40,153 shares in the company, valued at approximately $1,855,871.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.46% of the company’s stock.
About Patterson Cos.
Patterson Companies, Inc is a distributor serving the dental, veterinary and rehabilitation supply markets. The Company operates through three segments: dental supply, veterinary supply and rehabilitation supply. The dental supply segment provides a range of consumable dental products, clinical and laboratory equipment, and value-added services to dentists, dental laboratories, institutions and other dental healthcare providers across North America.