USS Investment Management Ltd held its stake in Patterson Companies, Inc. (NASDAQ:PDCO) during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 401,700 shares of the company’s stock at the end of the first quarter. USS Investment Management Ltd owned approximately 0.42% of Patterson Companies worth $18,169,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of the stock. Norges Bank bought a new stake in Patterson Companies during the fourth quarter valued at $37,738,000. Perkins Investment Management LLC increased its stake in Patterson Companies by 34.9% in the third quarter. Perkins Investment Management LLC now owns 2,165,961 shares of the company’s stock valued at $99,504,000 after buying an additional 560,168 shares in the last quarter. Tamarack Advisers LP increased its stake in Patterson Companies by 11,373.7% in the third quarter. Tamarack Advisers LP now owns 545,000 shares of the company’s stock valued at $24,732,000 after buying an additional 540,250 shares in the last quarter. Parnassus Investments CA increased its stake in Patterson Companies by 6.1% in the first quarter. Parnassus Investments CA now owns 8,396,864 shares of the company’s stock valued at $370,312,000 after buying an additional 481,947 shares in the last quarter. Finally, Mackenzie Financial Corp bought a new stake in Patterson Companies during the third quarter valued at $19,053,000. 82.97% of the stock is owned by hedge funds and other institutional investors.
Shares of Patterson Companies, Inc. (NASDAQ:PDCO) traded up 0.66% during trading on Friday, reaching $42.79. 1,401,160 shares of the company traded hands. Patterson Companies, Inc. has a 52 week low of $36.46 and a 52 week high of $50.40. The firm’s 50 day moving average price is $44.11 and its 200-day moving average price is $43.29. The company has a market capitalization of $4.05 billion, a price-to-earnings ratio of 23.49 and a beta of 0.87.
Patterson Companies (NASDAQ:PDCO) last announced its quarterly earnings data on Thursday, February 23rd. The company reported $0.58 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.01. Patterson Companies had a net margin of 3.69% and a return on equity of 17.17%. The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same period last year, the business earned $0.68 EPS. The company’s revenue was down .2% on a year-over-year basis. Equities analysts anticipate that Patterson Companies, Inc. will post $2.29 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, April 28th. Stockholders of record on Friday, April 14th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.45%. This is a positive change from Patterson Companies’s previous quarterly dividend of $0.24. The ex-dividend date was Tuesday, April 11th. Patterson Companies’s dividend payout ratio (DPR) is presently 44.65%.
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Several analysts have recently weighed in on PDCO shares. Deutsche Bank AG started coverage on shares of Patterson Companies in a research note on Wednesday, March 15th. They set a “hold” rating and a $45.00 price target for the company. Craig Hallum started coverage on shares of Patterson Companies in a research note on Tuesday, April 11th. They set a “hold” rating for the company. Zacks Investment Research raised shares of Patterson Companies from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 24th. Jefferies Group LLC reaffirmed a “hold” rating and set a $40.00 price target on shares of Patterson Companies in a research note on Wednesday, March 29th. Finally, Credit Suisse Group AG reaffirmed a “hold” rating and set a $45.00 price target on shares of Patterson Companies in a research note on Wednesday, March 1st. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $43.63.
In other news, Director Ellen A. Rudnick sold 3,000 shares of the firm’s stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $45.70, for a total value of $137,100.00. Following the sale, the director now directly owns 42,235 shares in the company, valued at approximately $1,930,139.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James W. Wiltz sold 40,000 shares of the firm’s stock in a transaction on Tuesday, February 28th. The shares were sold at an average price of $45.29, for a total transaction of $1,811,600.00. The disclosure for this sale can be found here. Insiders sold a total of 58,000 shares of company stock worth $2,627,800 over the last 90 days. Company insiders own 0.46% of the company’s stock.
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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