Teacher Retirement System of Texas lowered its stake in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 13.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 132,279 shares of the company’s stock after selling 20,500 shares during the period. Teacher Retirement System of Texas owned 0.14% of Patterson Companies worth $5,983,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in PDCO. SFE Investment Counsel boosted its position in shares of Patterson Companies by 18.1% in the first quarter. SFE Investment Counsel now owns 62,650 shares of the company’s stock valued at $2,834,000 after buying an additional 9,595 shares in the last quarter. Cipher Capital LP acquired a new stake in shares of Patterson Companies during the first quarter valued at approximately $1,575,000. Mairs & Power INC raised its stake in shares of Patterson Companies by 25.3% in the third quarter. Mairs & Power INC now owns 1,923,561 shares of the company’s stock valued at $88,368,000 after buying an additional 388,786 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Patterson Companies by 10.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 926,706 shares of the company’s stock valued at $38,023,000 after buying an additional 83,978 shares during the last quarter. Finally, Fenimore Asset Management Inc. raised its stake in shares of Patterson Companies by 0.6% in the first quarter. Fenimore Asset Management Inc. now owns 996,115 shares of the company’s stock valued at $45,054,000 after buying an additional 6,350 shares during the last quarter. Institutional investors own 89.62% of the company’s stock.
Shares of Patterson Companies, Inc. (NASDAQ:PDCO) traded up 0.87% during midday trading on Tuesday, reaching $47.64. The company’s stock had a trading volume of 580,482 shares. The stock has a market capitalization of $4.47 billion, a PE ratio of 26.61 and a beta of 0.98. The stock’s 50 day moving average is $44.87 and its 200 day moving average 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 posted its quarterly earnings results on Thursday, May 25th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.04. The company had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Patterson Companies had a return on equity of 15.94% and a net margin of 3.06%. The firm’s revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.77 earnings per share. On average, analysts forecast that Patterson Companies, Inc. will post $2.32 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 28th. Shareholders of record on Friday, July 14th will be issued a $0.26 dividend. 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 currently 58.10%.
Several analysts have commented on PDCO shares. Credit Suisse Group reissued a “hold” rating and issued a $45.00 price objective on shares of Patterson Companies in a report on Wednesday, March 1st. Evercore ISI lowered Patterson Companies from a “hold” rating to an “underperform” rating in a research note on Friday, March 3rd. Deutsche Bank AG initiated coverage on Patterson Companies in a research report on Wednesday, March 15th. They set a “hold” rating and a $45.00 price objective on the stock. Jefferies Group LLC reiterated a “hold” rating and set a $40.00 price objective on shares of Patterson Companies in a research report on Wednesday, March 29th. Finally, Craig Hallum began coverage on Patterson Companies in a report on Tuesday, April 11th. They issued a “hold” rating on the stock. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $43.63.
In other Patterson Companies news, Director Scott P. Anderson sold 10,000 shares of Patterson Companies stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $46.76, for a total transaction of $467,600.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Ann B. Gugino sold 750 shares of Patterson Companies stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $43.83, for a total transaction of $32,872.50. The disclosure for this sale can be found here. 0.46% of the stock is currently 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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