The Manufacturers Life Insurance Company trimmed its position in Patterson Companies, Inc. (NASDAQ:PDCO) by 3.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 814,415 shares of the company’s stock after selling 27,464 shares during the period. The Manufacturers Life Insurance Company owned 0.87% of Patterson Companies worth $38,237,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the stock. Jarislowsky Fraser Ltd grew its stake 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 purchasing an additional 42 shares during the period. Nomura Asset Management Co. Ltd. grew its stake in shares of 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 acquiring an additional 70 shares during the last quarter. Lowe Brockenbrough & Co. Inc. grew its stake in shares of Patterson Companies by 0.6% in the second quarter. Lowe Brockenbrough & Co. Inc. now owns 12,475 shares of the company’s stock worth $586,000 after acquiring an additional 70 shares during the last quarter. Meeder Asset Management Inc. grew its stake in shares of 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 acquiring an additional 112 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of Patterson Companies by 4.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,576 shares of the company’s stock worth $168,000 after acquiring an additional 150 shares during the last quarter. 88.73% of the stock is currently owned by institutional investors.
PDCO has been the topic of a number of recent research reports. TheStreet cut Patterson Companies from a “b-” rating to a “c” rating in a research note on Thursday, August 24th. Credit Suisse Group reissued an “outperform” rating and issued a $50.00 target price (up from $45.00) on shares of Patterson Companies in a research note on Thursday, July 13th. Zacks Investment Research raised Patterson Companies from a “sell” rating to a “hold” rating in a research note on Wednesday, September 6th. BidaskClub raised Patterson Companies from a “hold” rating to a “buy” rating in a research note on Thursday, June 15th. Finally, Morgan Stanley initiated coverage on Patterson Companies in a research note on Thursday, September 21st. They issued an “equal weight” rating and a $42.00 target price on the stock. Five analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $41.70.
Shares of Patterson Companies, Inc. (NASDAQ:PDCO) traded up 0.05% on Friday, hitting $37.25. The stock had a trading volume of 32,234 shares. The company has a market cap of $3.48 billion, a P/E ratio of 21.64 and a beta of 0.97. The company’s 50 day moving average price is $38.26 and its 200-day moving average price is $42.29. Patterson Companies, Inc. has a 12 month low of $35.93 and a 12 month high of $49.26.
Patterson Companies (NASDAQ:PDCO) last announced its earnings results on Thursday, August 24th. The company reported $0.44 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.44. Patterson Companies had a return on equity of 15.51% and a net margin of 2.93%. The firm had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the previous year, the business earned $0.51 EPS. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. On average, analysts expect that Patterson Companies, Inc. will post $2.29 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, October 13th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $1.04 annualized dividend and a yield of 2.79%. Patterson Companies’s dividend payout ratio (DPR) is 60.47%.
In related news, CFO Ann B. Gugino sold 750 shares of the business’s stock in a transaction on Wednesday, October 11th. The stock was sold at an average price of $36.73, for a total transaction of $27,547.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.46% of the stock is owned by insiders.
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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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