Systematic Financial Management LP decreased its position in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 7.2% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 40,875 shares of the company’s stock after selling 3,190 shares during the period. Systematic Financial Management LP’s holdings in Patterson Companies were worth $1,849,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of PDCO. Benjamin F. Edwards & Company Inc. boosted its position in 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 in the last quarter. Nordea Investment Management AB increased its stake in 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. ING Groep NV purchased a new stake in Patterson Companies during the fourth quarter worth about $211,000. Marietta Wealth Management LLC purchased a new stake in Patterson Companies during the fourth quarter worth about $212,000. Finally, Ashfield Capital Partners LLC purchased a new stake in Patterson Companies during the first quarter worth about $213,000. 89.62% of the stock is currently owned by hedge funds and other institutional investors.
Patterson Companies, Inc. (NASDAQ:PDCO) traded up 0.74% during trading on Tuesday, hitting $47.58. The stock had a trading volume of 574,905 shares. The firm has a market cap of $4.46 billion, a P/E ratio of 26.58 and a beta of 0.98. The stock’s 50 day moving average price is $44.87 and its 200 day moving average price is $43.46. Patterson Companies, Inc. has a 12-month low of $36.46 and a 12-month high of $50.05.
Patterson Companies (NASDAQ:PDCO) last announced its earnings results on Thursday, May 25th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.04. The company had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.46 billion. Patterson Companies had a return on equity of 15.94% and a net margin of 3.06%. The company’s revenue was down .6% on a year-over-year basis. During the same period last year, the firm earned $0.77 earnings per share. On average, analysts anticipate that Patterson Companies, Inc. will post $2.32 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 28th. Stockholders of record on Friday, July 14th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, July 12th. This represents a $1.04 annualized dividend and a dividend yield of 2.20%. Patterson Companies’s dividend payout ratio is presently 58.10%.
Several equities analysts have recently weighed in on PDCO shares. Deutsche Bank AG assumed coverage on Patterson Companies in a research report on Wednesday, March 15th. They set a “hold” rating and a $45.00 target price on the stock. Zacks Investment Research downgraded Patterson Companies from a “buy” rating to a “hold” rating in a research report on Monday, May 15th. Craig Hallum began coverage on Patterson Companies in a research note on Tuesday, April 11th. They set a “hold” rating for the company. Credit Suisse Group restated a “hold” rating and set a $45.00 price objective on shares of Patterson Companies in a research note on Wednesday, March 1st. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $40.00 price target on shares of Patterson Companies in a research note on Wednesday, March 29th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $43.63.
In other news, insider Ann B. Gugino sold 750 shares of the firm’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $43.83, for a total transaction of $32,872.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Scott P. Anderson sold 10,000 shares of the firm’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. 0.46% of the stock is owned by company 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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