Patterson Companies, Inc. (PDCO) Position Lowered by Great West Life Assurance Co. Can
Great West Life Assurance Co. Can reduced its position in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 26.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 60,460 shares of the company’s stock after selling 21,520 shares during the period. Great West Life Assurance Co. Can owned approximately 0.06% of Patterson Companies worth $2,836,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in PDCO. Jarislowsky Fraser Ltd increased its position in Patterson Companies by 0.3% in the second quarter. Jarislowsky Fraser Ltd now owns 14,321 shares of the company’s stock worth $672,000 after buying an additional 42 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its position in Patterson Companies by 0.7% in the first quarter. Nomura Asset Management Co. Ltd. now owns 10,520 shares of the company’s stock worth $476,000 after buying an additional 70 shares during the last quarter. Meeder Asset Management Inc. increased its position in Patterson Companies by 0.6% in the second quarter. Meeder Asset Management Inc. now owns 20,363 shares of the company’s stock worth $956,000 after buying an additional 112 shares during the last quarter. LS Investment Advisors LLC increased its position in Patterson Companies by 1.4% in the first quarter. LS Investment Advisors LLC now owns 9,631 shares of the company’s stock worth $436,000 after buying an additional 134 shares during the last quarter. Finally, Teton Advisors Inc. increased its position in Patterson Companies by 0.5% in the first quarter. Teton Advisors Inc. now owns 29,404 shares of the company’s stock worth $1,330,000 after buying an additional 141 shares during the last quarter. Institutional investors and hedge funds own 89.34% of the company’s stock.
Patterson Companies, Inc. (NASDAQ:PDCO) opened at 36.45 on Monday. Patterson Companies, Inc. has a 1-year low of $36.43 and a 1-year high of $49.26. The company’s 50-day moving average price is $41.54 and its 200-day moving average price is $43.92. The stock has a market cap of $3.42 billion, a P/E ratio of 20.36 and a beta of 0.95.
Patterson Companies (NASDAQ:PDCO) last announced 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 during the quarter, compared to analyst estimates of $1.46 billion. Patterson Companies had a return on equity of 15.94% and a net margin of 3.06%. Patterson Companies’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the previous year, the company earned $0.77 earnings per share. 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 issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.85%. The ex-dividend date was Wednesday, July 12th. Patterson Companies’s dividend payout ratio is currently 58.10%.
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A number of research firms have recently commented on PDCO. Jefferies Group LLC reiterated a “hold” rating and issued a $40.00 price objective on shares of Patterson Companies in a report on Friday, May 5th. Zacks Investment Research upgraded Patterson Companies from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a report on Tuesday, May 2nd. Credit Suisse Group reiterated an “outperform” rating and issued a $50.00 price objective (up previously from $45.00) on shares of Patterson Companies in a report on Thursday, July 13th. Stifel Nicolaus dropped their price objective on Patterson Companies from $39.00 to $34.00 and set a “sell” rating on the stock in a report on Tuesday, August 15th. Finally, BidaskClub downgraded Patterson Companies from a “sell” rating to a “strong sell” rating in a report on Friday, August 4th. Seven investment analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. Patterson Companies currently has an average rating of “Hold” and an average price target of $43.00.
In related news, insider Ann B. Gugino sold 750 shares of the business’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $43.83, for a total value of $32,872.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Scott P. Anderson sold 10,000 shares of the business’s 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 disclosure for this sale can be found here. Over the last three months, insiders sold 11,500 shares of company stock valued at $532,273. 0.46% of the stock is owned by corporate 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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