Summit Global Investments raised its position in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 5.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 95,837 shares of the company’s stock after buying an additional 4,827 shares during the period. Patterson Companies accounts for approximately 1.4% of Summit Global Investments’ investment portfolio, making the stock its 22nd largest position. Summit Global Investments owned 0.10% of Patterson Companies worth $4,335,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of PDCO. Guggenheim Capital LLC increased its stake in shares of Patterson Companies by 24.9% in the fourth quarter. Guggenheim Capital LLC now owns 982,860 shares of the company’s stock worth $40,327,000 after buying an additional 195,782 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Patterson Companies by 1.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 43,315 shares of the company’s stock worth $1,779,000 after buying an additional 619 shares in the last quarter. New York State Teachers Retirement System increased its stake in shares of Patterson Companies by 0.4% in the fourth quarter. New York State Teachers Retirement System now owns 150,978 shares of the company’s stock worth $6,195,000 after buying an additional 583 shares in the last quarter. Credit Agricole S A increased its stake in shares of Patterson Companies by 124.0% in the fourth quarter. Credit Agricole S A now owns 42,647 shares of the company’s stock worth $1,749,000 after buying an additional 23,610 shares in the last quarter. Finally, Asset Management One Co. Ltd. increased its stake in shares of Patterson Companies by 1,737.2% in the fourth quarter. Asset Management One Co. Ltd. now owns 153,777 shares of the company’s stock worth $6,311,000 after buying an additional 145,407 shares in the last quarter. 89.62% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Patterson Companies, Inc. (NASDAQ:PDCO) traded up 0.44% on Thursday, reaching $47.93. The company had a trading volume of 945,092 shares. The company has a market capitalization of $4.50 billion, a PE ratio of 26.78 and a beta of 0.98. The company’s 50-day moving average is $44.96 and its 200-day moving average is $43.52. Patterson Companies, Inc. has a one year low of $36.46 and a one year 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 for the quarter, topping the consensus estimate of $0.65 by $0.04. The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.46 billion. Patterson Companies had a net margin of 3.06% and a return on equity of 15.94%. The firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.77 earnings per share. Equities research analysts predict that Patterson Companies, Inc. will post $2.32 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 28th. Shareholders of record on Friday, July 14th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend is Wednesday, July 12th. Patterson Companies’s dividend payout ratio is presently 58.10%.
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A number of research analysts have recently commented on the company. BidaskClub upgraded Patterson Companies from a “hold” rating to a “buy” rating in a research note on Thursday, June 15th. Evercore ISI cut Patterson Companies from a “hold” rating to an “underperform” rating in a research note on Friday, March 3rd. Credit Suisse Group reiterated a “hold” rating and issued a $45.00 price target on shares of Patterson Companies in a research note on Wednesday, March 1st. Jefferies Group LLC reiterated a “hold” rating and issued a $40.00 price target on shares of Patterson Companies in a research note on Friday, May 5th. Finally, Deutsche Bank AG assumed coverage on Patterson Companies in a research note on Wednesday, March 15th. They issued a “hold” rating and a $45.00 price target for the company. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. Patterson Companies currently has a consensus rating of “Hold” and a consensus price target of $43.63.
In other Patterson Companies news, insider Ann B. Gugino sold 750 shares of the business’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $43.83, for a total value of $32,872.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Scott P. Anderson sold 10,000 shares of the business’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $46.76, for a total transaction of $467,600.00. The disclosure for this sale can be found here. Insiders own 0.46% of the company’s stock.
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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