Patterson Companies, Inc. (PDCO) Stake Lowered by Bank of America Corp DE
Bank of America Corp DE cut its position in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 60.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 432,692 shares of the company’s stock after selling 648,839 shares during the period. Bank of America Corp DE owned about 0.46% of Patterson Companies worth $19,571,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in the stock. Invictus RG bought a new stake in shares of Patterson Companies during the first quarter worth $119,000. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Patterson Companies by 29.3% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 3,079 shares of the company’s stock worth $139,000 after buying an additional 698 shares during the period. Nordea Investment Management AB boosted its stake in shares of Patterson Companies by 48.4% in the first quarter. Nordea Investment Management AB now owns 3,735 shares of the company’s stock worth $169,000 after buying an additional 1,218 shares during the last quarter. Ashfield Capital Partners LLC acquired a new stake in shares of Patterson Companies during the first quarter worth approximately $213,000. Finally, Bell Bank acquired a new stake in shares of Patterson Companies during the first quarter worth approximately $216,000. 89.74% of the stock is owned by hedge funds and other institutional investors.
Patterson Companies, Inc. (NASDAQ:PDCO) traded down 1.11% on Friday, reaching $39.23. 1,086,763 shares of the company traded hands. The company has a market capitalization of $3.68 billion, a P/E ratio of 21.92 and a beta of 0.95. The company has a 50-day moving average price of $44.99 and a 200-day moving average price of $44.27. Patterson Companies, Inc. has a 12 month low of $36.46 and a 12 month high of $49.26.
Patterson Companies (NASDAQ:PDCO) last issued its quarterly earnings data on Thursday, May 25th. The company reported $0.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.04. The firm had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.46 billion. Patterson Companies had a net margin of 3.06% and a return on equity of 15.94%. Patterson Companies’s quarterly revenue was down .6% compared to the same quarter last year. During the same period last year, the firm posted $0.77 EPS. Equities research analysts expect that Patterson Companies, Inc. will post $2.32 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 28th. Investors of record on Friday, July 14th were given a $0.26 dividend. The ex-dividend date of this dividend was Wednesday, July 12th. This represents a $1.04 annualized dividend and a yield of 2.65%. Patterson Companies’s dividend payout ratio is presently 58.10%.
A number of equities research analysts have recently commented on the stock. Zacks Investment Research raised shares of Patterson Companies from a “sell” rating to a “hold” rating in a report on Wednesday, May 31st. Craig Hallum assumed coverage on shares of Patterson Companies in a report on Tuesday, April 11th. They issued a “hold” rating for the company. Jefferies Group LLC reaffirmed a “hold” rating and issued a $40.00 target price on shares of Patterson Companies in a report on Monday, May 15th. BidaskClub cut shares of Patterson Companies from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Finally, Stifel Nicolaus cut shares of Patterson Companies from a “hold” rating to a “sell” rating and reduced their target price for the company from $47.43 to $39.00 in a report on Thursday, July 6th. Six analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $43.78.
In related news, Director Scott P. Anderson sold 10,000 shares of Patterson Companies stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $46.76, for a total value of $467,600.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Ann B. Gugino sold 750 shares of Patterson Companies stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $43.83, for a total transaction of $32,872.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,500 shares of company stock worth $532,273. 0.46% of the stock is currently owned by insiders.
Patterson Companies Company Profile
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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