New York State Common Retirement Fund boosted its stake in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 1.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 395,652 shares of the company’s stock after buying an additional 5,700 shares during the period. New York State Common Retirement Fund owned approximately 0.41% of Patterson Companies worth $15,292,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the stock. Kayne Anderson Rudnick Investment Management LLC raised its holdings in Patterson Companies by 1.8% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,616,289 shares of the company’s stock valued at $75,885,000 after buying an additional 28,000 shares during the period. Shapiro Capital Management LLC increased its stake in Patterson Companies by 7.4% in the second quarter. Shapiro Capital Management LLC now owns 1,539,410 shares of the company’s stock worth $72,275,000 after purchasing an additional 105,950 shares during the period. Gamco Investors INC. ET AL increased its stake in Patterson Companies by 11.4% in the third quarter. Gamco Investors INC. ET AL now owns 1,421,850 shares of the company’s stock worth $54,955,000 after purchasing an additional 145,668 shares during the period. FMR LLC increased its stake in Patterson Companies by 5.7% in the second quarter. FMR LLC now owns 1,400,718 shares of the company’s stock worth $65,763,000 after purchasing an additional 75,354 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Patterson Companies by 6.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,077,397 shares of the company’s stock worth $50,586,000 after purchasing an additional 64,073 shares during the period. Institutional investors own 93.36% of the company’s stock.
In other news, CFO Ann B. Gugino sold 750 shares of the 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John D. Buck purchased 2,834 shares of the company’s stock in a transaction dated Friday, November 24th. The shares were purchased at an average cost of $34.93 per share, for a total transaction of $98,991.62. Following the transaction, the director now directly owns 54,627 shares in the company, valued at approximately $1,908,121.11. The disclosure for this purchase can be found here. 0.46% of the stock is currently owned by corporate insiders.
Patterson Companies (NASDAQ:PDCO) last posted its quarterly earnings results on Tuesday, November 21st. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.03). Patterson Companies had a return on equity of 15.19% and a net margin of 2.84%. The firm had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the previous year, the company posted $0.56 EPS. Patterson Companies’s quarterly revenue was down 2.3% compared to the same quarter last year. research analysts forecast that Patterson Companies, Inc. will post 2.06 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 26th. Stockholders of record on Friday, January 12th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date of this dividend is Thursday, January 11th. Patterson Companies’s payout ratio is 61.18%.
A number of analysts have weighed in on the company. Royal Bank of Canada assumed coverage on Patterson Companies in a research note on Tuesday, September 19th. They issued a “sector perform” rating and a $42.00 target price on the stock. Cleveland Research reiterated a “hold” rating on shares of Patterson Companies in a research note on Tuesday, August 22nd. Robert W. Baird reiterated a “buy” rating and issued a $44.00 target price on shares of Patterson Companies in a research note on Friday, November 10th. Jefferies Group reiterated a “hold” rating and issued a $37.00 target price on shares of Patterson Companies in a research note on Thursday, November 23rd. Finally, Zacks Investment Research upgraded Patterson Companies from a “sell” rating to a “hold” rating in a research note on Wednesday, September 6th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. Patterson Companies has a consensus rating of “Hold” and an average price target of $40.40.
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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