Westpac Banking Corp boosted its stake in Patterson Cos. (NASDAQ:PDCO) by 26.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,382 shares of the company’s stock after buying an additional 1,115 shares during the period. Westpac Banking Corp’s holdings in Patterson Cos. were worth $258,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Group LTD raised 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 valued at $35,936,000 after buying an additional 7,945 shares in the last quarter. BlackRock Fund Advisors increased its stake in Patterson Cos. by 12.7% in the first quarter. BlackRock Fund Advisors now owns 2,542,819 shares of the company’s stock valued at $118,317,000 after buying an additional 287,257 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake 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 valued at $122,205,000 after buying an additional 72,962 shares during the last quarter. Columbia Partners L L C Investment Management bought a new stake in Patterson Cos. during the first quarter valued at $1,608,000. Finally, JPMorgan Chase & Co. increased its stake in Patterson Cos. by 198.4% in the first quarter. JPMorgan Chase & Co. now owns 143,065 shares of the company’s stock valued at $6,657,000 after buying an additional 95,122 shares during the last quarter. 77.29% of the stock is owned by hedge funds and other institutional investors.
Shares of Patterson Cos. (NASDAQ:PDCO) opened at 45.34 on Friday. Patterson Cos. has a 52 week low of $38.51 and a 52 week high of $50.40. The stock has a market capitalization of $4.33 billion, a P/E ratio of 22.36 and a beta of 0.94. The firm’s 50-day moving average price is $46.06 and its 200 day moving average price is $46.59.
Patterson Cos. (NASDAQ:PDCO) last issued its quarterly earnings data on Thursday, August 25th. The company reported $0.51 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.51. The business earned $1.32 billion during the quarter, compared to the consensus estimate of $1.35 billion. Patterson Cos. had a net margin of 3.52% and a return on equity of 17.42%. The company’s revenue was up 15.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.47 earnings per share. Analysts expect that Patterson Cos. will post $2.67 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Friday, October 14th will be given a $0.24 dividend. The ex-dividend date is Wednesday, October 12th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.12%. Patterson Cos.’s dividend payout ratio (DPR) is currently 47.29%.
PDCO has been the topic of several recent research reports. Credit Suisse Group AG restated a “buy” rating and issued a $55.00 price target on shares of Patterson Cos. in a research note on Monday, June 27th. Zacks Investment Research upgraded Patterson Cos. from a “sell” rating to a “hold” rating in a research note on Thursday, September 22nd. Jefferies Group restated a “hold” rating on shares of Patterson Cos. in a research note on Thursday, August 4th. TheStreet downgraded Patterson Cos. from a “buy” rating to a “hold” rating in a research note on Thursday, September 1st. Finally, Evercore ISI restated a “hold” rating and issued a $48.00 price target (down previously from $49.00) on shares of Patterson Cos. in a research note on Friday, August 26th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $48.40.
In other Patterson Cos. 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 completion of the transaction, the insider now owns 40,153 shares in the company, valued at $1,855,871.66. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.46% of the stock is currently owned by company insiders.
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.