Trade Report: The Alley Co LLC decides to keep it stake in Patterson Cos. (PDCO) to the level of $279,000

The Alley Co LLC decides to keep it stake in Patterson Cos. (PDCO) to the level of $279,000

Alley Co LLC cut its position in Patterson Cos. (NASDAQ:PDCO) by 6.6% during the second quarter, Holdings Channel reports. The firm owned 5,821 shares of the company’s stock after selling 410 shares during the period. Alley Co LLC’s holdings in Patterson Cos. were worth $279,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP increased its position in shares of Patterson Cos. by 3.5% in the first quarter. Wellington Management Group LLP now owns 2,801,575 shares of the company’s stock worth $130,358,000 after buying an additional 94,184 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of 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. BlackRock Fund Advisors increased its position in shares of 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. Geode Capital Management LLC increased its position in shares of Patterson Cos. by 1.5% in the first quarter. Geode Capital Management LLC now owns 783,712 shares of the company’s stock worth $36,400,000 after buying an additional 11,454 shares during the last quarter. Finally, BlackRock Group LTD increased its position in shares of 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. Institutional investors and hedge funds own 77.27% of the company’s stock.

Shares of Patterson Cos. (NASDAQ:PDCO) traded down 0.68% during midday trading on Monday, reaching $44.11. The company had a trading volume of 401,260 shares. The firm’s 50 day moving average price is $45.91 and its 200-day moving average price is $46.59. The company has a market capitalization of $4.21 billion, a P/E ratio of 21.75 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 earnings results on Thursday, August 25th. The company reported $0.51 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.51. The business had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.35 billion. Patterson Cos. had a net margin of 3.52% and a return on equity of 17.42%. The firm’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.47 earnings per share. Analysts anticipate that Patterson Cos. will post $2.67 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, October 14th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, October 12th. This represents a $0.96 dividend on an annualized basis and a yield of 2.16%. Patterson Cos.’s payout ratio is currently 47.29%.

A number of research firms have recently weighed in on PDCO. TheStreet cut Patterson Cos. from a “buy” rating to a “hold” rating in a report on Thursday, September 1st. Evercore ISI reaffirmed a “hold” rating and set a $48.00 price target (down previously from $49.00) on shares of Patterson Cos. in a report on Friday, August 26th. Jefferies Group reaffirmed a “hold” rating on shares of Patterson Cos. in a report on Thursday, August 4th. Zacks Investment Research raised Patterson Cos. from a “sell” rating to a “hold” rating in a report on Thursday. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $49.00 price target (down previously from $51.00) on shares of Patterson Cos. in a report on Friday, August 26th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. Patterson Cos. has an average rating of “Hold” and a consensus price target of $48.40.

In related news, insider Ann B. Gugino sold 750 shares of the company’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $46.22, for a total value of $34,665.00. Following the sale, the insider now owns 40,153 shares of the company’s stock, valued at $1,855,871.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.46% of the stock is currently owned by corporate insiders.

Patterson Cos. Company Profile

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.

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