Russell Investments Group Ltd. Decreases Stock Holdings in Patterson Companies, Inc. (NASDAQ:PDCO)

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Russell Investments Group Ltd. decreased its position in Patterson Companies, Inc. (NASDAQ:PDCO) by 51.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 91,038 shares of the company’s stock after selling 96,826 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.10% of Patterson Companies worth $2,085,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Patriot Financial Group Insurance Agency LLC increased its position in shares of Patterson Companies by 15,261.5% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 1,997 shares of the company’s stock valued at $44,000 after acquiring an additional 1,984 shares during the period. Royce & Associates LP increased its position in shares of Patterson Companies by 34.4% in the first quarter. Royce & Associates LP now owns 2,553 shares of the company’s stock valued at $56,000 after acquiring an additional 653 shares during the period. Twin Tree Management LP purchased a new position in shares of Patterson Companies in the first quarter valued at about $87,000. BerganKDV Wealth Management LLC purchased a new position in shares of Patterson Companies in the first quarter valued at about $109,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Patterson Companies by 15.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,116 shares of the company’s stock valued at $117,000 after acquiring an additional 692 shares during the period. Hedge funds and other institutional investors own 94.59% of the company’s stock.

Shares of PDCO traded up $0.01 during trading hours on Thursday, reaching $17.62. 14,596 shares of the company traded hands, compared to its average volume of 1,170,555. The company’s fifty day moving average price is $17.56 and its two-hundred day moving average price is $20.88. The company has a market capitalization of $1.79 billion, a price-to-earnings ratio of 12.58, a price-to-earnings-growth ratio of 2.06 and a beta of 1.33. The company has a quick ratio of 0.88, a current ratio of 1.81 and a debt-to-equity ratio of 0.51. Patterson Companies, Inc. has a 12 month low of $15.73 and a 12 month high of $26.60.

Patterson Companies (NASDAQ:PDCO) last announced its earnings results on Thursday, August 29th. The company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.36 billion. Patterson Companies had a net margin of 2.12% and a return on equity of 8.95%. The company’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.26 EPS. On average, analysts expect that Patterson Companies, Inc. will post 1.38 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 11th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 5.90%. The ex-dividend date of this dividend is Thursday, October 10th. Patterson Companies’s payout ratio is currently 74.29%.

A number of brokerages have recently weighed in on PDCO. Barclays cut their target price on shares of Patterson Companies from $20.00 to $16.00 and set an “underweight” rating on the stock in a research note on Friday, August 30th. Wolfe Research set a $17.00 target price on shares of Patterson Companies and gave the company a “sell” rating in a research note on Friday, August 30th. Robert W. Baird set a $19.00 target price on shares of Patterson Companies and gave the company a “hold” rating in a research note on Friday, August 30th. JPMorgan Chase & Co. cut their target price on shares of Patterson Companies from $22.00 to $20.00 and set an “underweight” rating on the stock in a research note on Friday, June 28th. Finally, Goldman Sachs Group set a $15.00 target price on shares of Patterson Companies and gave the company a “sell” rating in a research note on Friday, August 30th. Six equities research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. The stock has an average rating of “Sell” and an average target price of $18.63.

Patterson Companies Profile

Patterson Companies, Inc distributes and sells dental and animal health products in the United States, the United Kingdom, and Canada. It operates through Dental and Animal Health segments. The company's Dental segment offers consumable products, such as infection control, restorative materials, hand instruments, and sterilization products; basic and advanced technology dental equipment; patient education systems; and office forms and stationery.

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Institutional Ownership by Quarter for Patterson Companies (NASDAQ:PDCO)

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