DnB Asset Management AS lessened its holdings in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 36.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 108,100 shares of the company’s stock after selling 62,285 shares during the period. DnB Asset Management AS owned about 0.11% of Patterson Companies worth $3,907,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Alyeska Investment Group L.P. bought a new position in shares of Patterson Companies during the third quarter valued at $2,961,000. FMR LLC raised its stake in Patterson Companies by 5.7% during the second quarter. FMR LLC now owns 1,400,718 shares of the company’s stock worth $65,763,000 after buying an additional 75,354 shares during the last quarter. Clinton Group Inc. bought a new position in Patterson Companies during the second quarter worth $554,000. Nomura Holdings Inc. bought a new position in Patterson Companies during the second quarter worth $287,000. Finally, Shapiro Capital Management LLC raised its stake in Patterson Companies by 7.4% during the second quarter. Shapiro Capital Management LLC now owns 1,539,410 shares of the company’s stock worth $72,275,000 after buying an additional 105,950 shares during the last quarter. Institutional investors and hedge funds own 93.48% of the company’s stock.
Patterson Companies, Inc. (NASDAQ:PDCO) traded down $0.44 during trading hours on Friday, reaching $35.22. 1,176,236 shares of the company were exchanged, compared to its average volume of 1,226,222. The company has a quick ratio of 1.10, a current ratio of 1.94 and a debt-to-equity ratio of 0.73. Patterson Companies, Inc. has a 52 week low of $32.07 and a 52 week high of $48.29. The company has a market cap of $3,339.70, a price-to-earnings ratio of 21.09, a P/E/G ratio of 1.96 and a beta of 0.89.
Patterson Companies (NASDAQ:PDCO) last issued its quarterly earnings data on Tuesday, November 21st. The company reported $0.51 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.03). The company had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.42 billion. Patterson Companies had a return on equity of 15.19% and a net margin of 2.84%. The firm’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.56 earnings per share. research analysts predict that Patterson Companies, Inc. will post 2.11 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, January 26th. Investors of record on Friday, January 12th were paid a $0.26 dividend. The ex-dividend date of this dividend was Thursday, January 11th. This represents a $1.04 annualized dividend and a dividend yield of 2.95%. Patterson Companies’s payout ratio is 62.28%.
A number of research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Patterson Companies from a “sell” rating to a “hold” rating in a report on Monday, October 23rd. Piper Jaffray Companies assumed coverage on shares of Patterson Companies in a research report on Thursday, October 19th. They issued a “neutral” rating and a $41.00 price objective on the stock. BidaskClub raised shares of Patterson Companies from a “sell” rating to a “hold” rating in a research report on Tuesday, January 16th. Evercore ISI initiated coverage on shares of Patterson Companies in a research report on Thursday, January 4th. They issued an “in-line” rating and a $38.50 price objective on the stock. Finally, Morgan Stanley lowered shares of Patterson Companies from an “equal weight” rating to an “underweight” rating and set a $42.00 price target on the stock. in a research report on Wednesday, December 6th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $40.29.
In other news, insider Ann B. Gugino sold 750 shares of the firm’s stock in a transaction dated Thursday, January 11th. The shares were sold at an average price of $36.38, for a total transaction of $27,285.00. The sale 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 bought at an average cost of $34.93 per share, for a total transaction of $98,991.62. Following the acquisition, the director now owns 54,627 shares in the company, valued at $1,908,121.11. The disclosure for this purchase can be found here. 0.46% of the stock is owned by company insiders.
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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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