Patterson Companies, Inc. (PDCO) Holdings Trimmed by UBS Asset Management Americas Inc.
UBS Asset Management Americas Inc. trimmed its holdings in Patterson Companies, Inc. (NASDAQ:PDCO) by 8.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 284,762 shares of the company’s stock after selling 25,214 shares during the quarter. UBS Asset Management Americas Inc. owned approximately 0.30% of Patterson Companies worth $13,370,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. OLD Mutual Customised Solutions Proprietary Ltd. boosted its stake in Patterson Companies by 27.8% in the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,300 shares of the company’s stock worth $104,000 after purchasing an additional 500 shares during the period. Invictus RG bought a new position in Patterson Companies in the 1st quarter worth approximately $119,000. Commonwealth Bank of Australia boosted its stake in Patterson Companies by 15.9% in the 2nd quarter. Commonwealth Bank of Australia now owns 3,027 shares of the company’s stock worth $140,000 after purchasing an additional 415 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in Patterson Companies by 4.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,576 shares of the company’s stock worth $168,000 after purchasing an additional 150 shares during the period. Finally, Nordea Investment Management AB boosted its stake in Patterson Companies by 48.4% in the 1st quarter. Nordea Investment Management AB now owns 3,735 shares of the company’s stock worth $169,000 after purchasing an additional 1,218 shares during the period. Institutional investors and hedge funds own 88.73% of the company’s stock.
In other news, insider Ann B. Gugino sold 750 shares of Patterson Companies stock in a transaction that occurred on Tuesday, July 11th. The stock was sold at an average price of $42.40, for a total value of $31,800.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.46% of the company’s stock.
Patterson Companies, Inc. (NASDAQ:PDCO) opened at 38.50 on Thursday. The stock’s 50 day moving average price is $38.12 and its 200-day moving average price is $42.59. Patterson Companies, Inc. has a 52-week low of $35.93 and a 52-week high of $49.26. The company has a market capitalization of $3.59 billion, a P/E ratio of 22.37 and a beta of 0.97.
Patterson Companies (NASDAQ:PDCO) last issued its quarterly earnings results on Thursday, August 24th. The company reported $0.44 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.44. The firm had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.34 billion. Patterson Companies had a return on equity of 15.51% and a net margin of 2.93%. The business’s revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.51 earnings per share. Analysts predict that Patterson Companies, Inc. will post $2.30 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, October 13th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date is Thursday, October 12th. Patterson Companies’s dividend payout ratio is presently 60.47%.
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Several research firms have weighed in on PDCO. Robert W. Baird restated a “buy” rating and issued a $44.00 price target on shares of Patterson Companies in a research note on Tuesday, September 26th. Stifel Nicolaus dropped their price target on Patterson Companies from $39.00 to $34.00 and set a “sell” rating for the company in a research note on Tuesday, August 15th. Morgan Stanley began coverage on Patterson Companies in a research note on Thursday, September 21st. They issued an “equal weight” rating and a $42.00 price target for the company. Cleveland Research restated a “hold” rating on shares of Patterson Companies in a research note on Tuesday, August 22nd. Finally, TheStreet downgraded Patterson Companies from a “b-” rating to a “c” rating in a research note on Thursday, August 24th. Five equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $41.70.
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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