Patterson Companies, Inc. (PDCO) Shares Sold by Creative Planning
Creative Planning cut its stake in Patterson Companies, Inc. (NASDAQ:PDCO) by 7.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 14,755 shares of the company’s stock after selling 1,260 shares during the period. Creative Planning’s holdings in Patterson Companies were worth $693,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. boosted its position in shares of Patterson Companies by 0.7% in the first quarter. Nomura Asset Management Co. Ltd. now owns 10,520 shares of the company’s stock valued at $476,000 after buying an additional 70 shares in the last quarter. LS Investment Advisors LLC boosted its position in shares of Patterson Companies by 1.4% in the first quarter. LS Investment Advisors LLC now owns 9,631 shares of the company’s stock valued at $436,000 after buying an additional 134 shares in the last quarter. Teton Advisors Inc. boosted its position in shares of Patterson Companies by 0.5% in the first quarter. Teton Advisors Inc. now owns 29,404 shares of the company’s stock valued at $1,330,000 after buying an additional 141 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its position in shares of Patterson Companies by 2.3% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 8,810 shares of the company’s stock valued at $398,000 after buying an additional 200 shares in the last quarter. Finally, Tyers Asset Management LLC boosted its position in shares of Patterson Companies by 1.4% in the first quarter. Tyers Asset Management LLC now owns 18,944 shares of the company’s stock valued at $857,000 after buying an additional 256 shares in the last quarter. Institutional investors own 89.34% of the company’s stock.
Shares of Patterson Companies, Inc. (PDCO) traded down 0.84% during mid-day trading on Friday, reaching $36.45. The company’s stock had a trading volume of 1,050,528 shares. The company has a market capitalization of $3.42 billion, a price-to-earnings ratio of 20.36 and a beta of 0.95. Patterson Companies, Inc. has a 1-year low of $36.43 and a 1-year high of $49.26. The firm’s 50 day moving average price is $41.54 and its 200-day moving average price is $43.92.
Patterson Companies (NASDAQ:PDCO) last issued its earnings results on Thursday, May 25th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.04. Patterson Companies had a net margin of 3.06% and a return on equity of 15.94%. The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter last year, the firm earned $0.77 EPS. The company’s revenue for the quarter was down .6% on a year-over-year basis. On average, analysts predict 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 paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.85%. The ex-dividend date was Wednesday, July 12th. Patterson Companies’s payout ratio is 58.10%.
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Several brokerages have recently weighed in on PDCO. Craig Hallum restated a “sell” rating and set a $41.00 target price (down from $46.00) on shares of Patterson Companies in a report on Thursday. They noted that the move was a valuation call. Stifel Nicolaus lowered their target price on Patterson Companies from $39.00 to $34.00 and set a “sell” rating on the stock in a report on Tuesday. BidaskClub cut Patterson Companies from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Jefferies Group LLC reiterated a “hold” rating and issued a $40.00 price objective on shares of Patterson Companies in a report on Monday, May 15th. Finally, Zacks Investment Research upgraded Patterson Companies from a “sell” rating to a “hold” rating in a report on Wednesday, May 31st. Seven research analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $43.00.
In related news, insider Ann B. Gugino sold 750 shares of Patterson Companies stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $43.83, for a total transaction of $32,872.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Scott P. Anderson sold 10,000 shares of Patterson Companies stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $46.76, for a total transaction of $467,600.00. The disclosure for this sale can be found here. Insiders have sold a total of 11,500 shares of company stock worth $532,273 in the last three months. 0.46% of the stock is owned by insiders.
About Patterson Companies
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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