BlackRock Inc. reduced its stake in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 18.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,122,331 shares of the company’s stock after selling 1,193,049 shares during the quarter. BlackRock Inc. owned about 5.40% of Patterson Companies worth $185,069,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of PDCO. Nationwide Fund Advisors lifted its holdings in shares of Patterson Companies by 12.7% during the 3rd quarter. Nationwide Fund Advisors now owns 94,955 shares of the company’s stock valued at $3,670,000 after purchasing an additional 10,712 shares in the last quarter. State of Wisconsin Investment Board lifted its holdings in shares of Patterson Companies by 424.2% during the 3rd quarter. State of Wisconsin Investment Board now owns 64,674 shares of the company’s stock valued at $2,500,000 after purchasing an additional 52,337 shares in the last quarter. Swiss National Bank lifted its holdings in shares of Patterson Companies by 0.5% during the 3rd quarter. Swiss National Bank now owns 304,458 shares of the company’s stock valued at $11,767,000 after purchasing an additional 1,500 shares in the last quarter. BNP Paribas Arbitrage SA lifted its holdings in shares of Patterson Companies by 71.1% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 54,392 shares of the company’s stock valued at $2,102,000 after purchasing an additional 22,598 shares in the last quarter. Finally, Sei Investments Co. lifted its holdings in shares of Patterson Companies by 47.9% during the 3rd quarter. Sei Investments Co. now owns 27,624 shares of the company’s stock valued at $1,068,000 after purchasing an additional 8,944 shares in the last quarter. Institutional investors own 94.56% of the company’s stock.
Several equities analysts have recently weighed in on PDCO shares. Morgan Stanley cut Patterson Companies from an “equal weight” rating to an “underweight” rating and set a $42.00 price objective on the stock. in a report on Wednesday, December 6th. Deutsche Bank assumed coverage on Patterson Companies in a research note on Friday, December 8th. They issued a “hold” rating and a $37.00 target price on the stock. Zacks Investment Research upgraded Patterson Companies from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 4th. JPMorgan Chase & Co. cut their target price on Patterson Companies from $36.00 to $26.00 and set an “underweight” rating on the stock in a research note on Monday, March 5th. Finally, BidaskClub cut Patterson Companies from a “hold” rating to a “sell” rating in a research note on Thursday, December 7th. Six equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $37.30.
In other Patterson Companies news, insider Ann B. Gugino sold 750 shares of the business’s stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $36.38, for a total transaction of $27,285.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.46% of the stock is owned by insiders.
Shares of Patterson Companies stock opened at $23.91 on Monday. The company has a market capitalization of $2,262.70, a P/E ratio of 9.23, a price-to-earnings-growth ratio of 1.90 and a beta of 0.98. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.80 and a quick ratio of 1.00. Patterson Companies, Inc. has a 12 month low of $22.57 and a 12 month high of $48.29.
Patterson Companies (NASDAQ:PDCO) last posted its quarterly earnings results on Thursday, March 1st. The company reported $0.43 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.09). The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.38 billion. Patterson Companies had a return on equity of 13.85% and a net margin of 4.39%. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period last year, the firm earned $0.58 EPS. equities research analysts expect that Patterson Companies, Inc. will post 1.69 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, April 27th. Shareholders of record on Friday, April 13th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 4.35%. The ex-dividend date is Thursday, April 12th. Patterson Companies’s dividend payout ratio (DPR) is 40.15%.
Patterson Companies declared that its board has authorized a stock buyback program on Tuesday, March 13th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.
TRADEMARK VIOLATION NOTICE: This article was published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this article on another site, it was illegally copied and republished in violation of US & international copyright & trademark legislation. The original version of this article can be viewed at https://www.dispatchtribunal.com/2018/03/19/blackrock-inc-has-185-07-million-stake-in-patterson-companies-inc-pdco.html.
Patterson Companies 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.
Want to see what other hedge funds are holding PDCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Patterson Companies, Inc. (NASDAQ:PDCO).
Receive News & Ratings for Patterson Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Patterson Companies and related companies with MarketBeat.com's FREE daily email newsletter.