Dimensional Fund Advisors LP cut its holdings in Patterson Companies, Inc. (NASDAQ:PDCO – Free Report) by 4.5% in the 1st quarter, Holdings Channel reports. The institutional investor owned 3,932,329 shares of the company’s stock after selling 185,656 shares during the period. Dimensional Fund Advisors LP’s holdings in Patterson Companies were worth $105,266,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently bought and sold shares of the business. ProShare Advisors LLC boosted its holdings in Patterson Companies by 22.5% in the 1st quarter. ProShare Advisors LLC now owns 20,267 shares of the company’s stock worth $543,000 after buying an additional 3,716 shares during the period. FMR LLC boosted its holdings in Patterson Companies by 416.9% in the 1st quarter. FMR LLC now owns 23,818 shares of the company’s stock worth $638,000 after buying an additional 19,210 shares during the period. ExodusPoint Capital Management LP boosted its holdings in Patterson Companies by 1,324.8% in the 1st quarter. ExodusPoint Capital Management LP now owns 191,411 shares of the company’s stock worth $5,124,000 after buying an additional 177,977 shares during the period. Envestnet Asset Management Inc. boosted its holdings in Patterson Companies by 274.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 214,256 shares of the company’s stock valued at $1,630,000 after purchasing an additional 156,993 shares during the period. Finally, Rhumbline Advisers boosted its holdings in Patterson Companies by 1.0% in the 1st quarter. Rhumbline Advisers now owns 294,041 shares of the company’s stock valued at $7,871,000 after purchasing an additional 2,835 shares during the period. 79.24% of the stock is owned by institutional investors.
Insider Activity
In other news, insider Les B. Korsh sold 3,500 shares of Patterson Companies stock in a transaction dated Wednesday, June 21st. The shares were sold at an average price of $31.75, for a total transaction of $111,125.00. Following the sale, the insider now owns 67,949 shares of the company’s stock, valued at approximately $2,157,380.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Les B. Korsh sold 3,500 shares of Patterson Companies stock in a transaction dated Wednesday, June 21st. The shares were sold at an average price of $31.75, for a total transaction of $111,125.00. Following the sale, the insider now owns 67,949 shares of the company’s stock, valued at approximately $2,157,380.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Donald Zurbay sold 5,620 shares of Patterson Companies stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $32.48, for a total transaction of $182,537.60. Following the sale, the chief executive officer now directly owns 149,539 shares in the company, valued at approximately $4,857,026.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,380 shares of company stock valued at $496,590. Corporate insiders own 1.50% of the company’s stock.
Patterson Companies Price Performance
Patterson Companies (NASDAQ:PDCO – Get Free Report) last released its quarterly earnings data on Wednesday, August 30th. The company reported $0.40 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.40. Patterson Companies had a net margin of 3.28% and a return on equity of 22.24%. The firm had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter in the previous year, the company earned $0.32 earnings per share. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. Research analysts anticipate that Patterson Companies, Inc. will post 2.5 earnings per share for the current year.
Patterson Companies Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 4th. Shareholders of record on Friday, July 21st were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date of this dividend was Thursday, July 20th. Patterson Companies’s payout ratio is 47.49%.
Wall Street Analyst Weigh In
PDCO has been the subject of several analyst reports. StockNews.com downgraded shares of Patterson Companies from a “buy” rating to a “hold” rating in a report on Thursday. Stifel Nicolaus reaffirmed a “hold” rating and set a $32.00 price objective on shares of Patterson Companies in a report on Thursday, August 31st. Bank of America lifted their price objective on shares of Patterson Companies from $35.00 to $40.00 in a report on Thursday, June 22nd. Robert W. Baird lifted their price objective on shares of Patterson Companies from $31.00 to $35.00 in a report on Thursday, June 22nd. Finally, Piper Sandler lifted their target price on shares of Patterson Companies from $35.00 to $39.00 in a research report on Thursday, June 22nd. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $35.83.
Check Out Our Latest Analysis on Patterson Companies
Patterson Companies Profile
Patterson Companies, Inc engages in the distribution of dental and animal health products in the United States, the United Kingdom, and Canada. The company operates through three segments: Dental, Animal Health, and Corporate segments. The Dental segment offers consumable products, including infection control, restorative materials, and instruments; basic and advanced technology and dental equipment; practice optimization solutions, such as practice management software, e-commerce, revenue cycle management, patient engagement solutions, and clinical and patient education systems.
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