Fmr LLC Has $65.76 Million Holdings in Patterson Companies, Inc. (PDCO)
Fmr LLC boosted its stake in Patterson Companies, Inc. (NASDAQ:PDCO) by 5.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,400,718 shares of the company’s stock after purchasing an additional 75,354 shares during the quarter. Fmr LLC owned approximately 1.49% of Patterson Companies worth $65,763,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Fisher Asset Management LLC purchased a new stake in shares of Patterson Companies in the 2nd quarter valued at about $4,060,000. Summit Global Investments raised its holdings in shares of Patterson Companies by 6.4% in the 2nd quarter. Summit Global Investments now owns 101,980 shares of the company’s stock valued at $4,788,000 after acquiring an additional 6,143 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in shares of Patterson Companies by 6.4% in the 2nd quarter. State of Alaska Department of Revenue now owns 19,508 shares of the company’s stock valued at $915,000 after acquiring an additional 1,166 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in shares of Patterson Companies by 5.3% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 373,777 shares of the company’s stock valued at $16,906,000 after acquiring an additional 18,751 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Patterson Companies by 1.9% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 235,194 shares of the company’s stock valued at $11,042,000 after acquiring an additional 4,290 shares in the last quarter. Institutional investors and hedge funds own 88.73% of the company’s stock.
In other news, CFO Ann B. Gugino sold 750 shares of the stock in a transaction that occurred on Wednesday, October 11th. The stock was sold at an average price of $36.73, for a total value of $27,547.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.46% of the company’s stock.
Shares of Patterson Companies, Inc. (NASDAQ:PDCO) opened at 37.41 on Friday. Patterson Companies, Inc. has a 12 month low of $35.93 and a 12 month high of $49.26. The stock has a 50 day moving average price of $38.29 and a 200-day moving average price of $42.22. The company has a market capitalization of $3.49 billion, a price-to-earnings ratio of 21.74 and a beta of 0.97.
Patterson Companies (NASDAQ:PDCO) last issued its quarterly earnings data on Thursday, August 24th. The company reported $0.44 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.44. Patterson Companies had a return on equity of 15.51% and a net margin of 2.93%. The business had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the prior year, the business posted $0.51 earnings per share. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. Analysts expect that Patterson Companies, Inc. will post $2.29 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, October 13th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $1.04 annualized dividend and a dividend yield of 2.78%. Patterson Companies’s payout ratio is 60.47%.
PDCO has been the topic of several recent analyst reports. Stifel Nicolaus cut Patterson Companies from a “hold” rating to a “sell” rating and lowered their price target for the company from $47.43 to $39.00 in a report on Thursday, July 6th. Morgan Stanley initiated coverage on Patterson Companies in a report on Thursday, September 21st. They set an “equal weight” rating and a $42.00 price objective on the stock. Robert W. Baird reissued a “buy” rating and set a $44.00 price objective on shares of Patterson Companies in a report on Tuesday, September 26th. TheStreet cut Patterson Companies from a “b-” rating to a “c” rating in a report on Thursday, August 24th. Finally, BidaskClub cut Patterson Companies from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Five analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $41.70.
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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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