Exchange Traded Concepts LLC boosted its position in shares of Patterson Companies, Inc. (NASDAQ:PDCO – Free Report) by 108.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,065 shares of the company’s stock after purchasing an additional 553 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Patterson Companies were worth $35,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of the company. BlackRock Inc. lifted its position in shares of Patterson Companies by 0.4% in the first quarter. BlackRock Inc. now owns 10,123,937 shares of the company’s stock valued at $271,018,000 after acquiring an additional 41,484 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Patterson Companies by 1.6% in the third quarter. Vanguard Group Inc. now owns 9,099,018 shares of the company’s stock valued at $218,558,000 after acquiring an additional 147,277 shares in the last quarter. State Street Corp lifted its position in shares of Patterson Companies by 1.9% in the first quarter. State Street Corp now owns 3,018,098 shares of the company’s stock valued at $80,794,000 after acquiring an additional 55,650 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of Patterson Companies by 0.8% in the first quarter. Nordea Investment Management AB now owns 2,466,668 shares of the company’s stock valued at $65,564,000 after acquiring an additional 18,913 shares in the last quarter. Finally, Morgan Stanley lifted its position in shares of Patterson Companies by 44.1% in the fourth quarter. Morgan Stanley now owns 1,921,031 shares of the company’s stock valued at $53,847,000 after acquiring an additional 587,570 shares in the last quarter. 79.24% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
PDCO has been the topic of several recent research reports. Robert W. Baird upped their price objective on Patterson Companies from $31.00 to $35.00 in a research report on Thursday, June 22nd. Bank of America upped their target price on Patterson Companies from $35.00 to $40.00 in a research note on Thursday, June 22nd. Stifel Nicolaus reiterated a “hold” rating and issued a $32.00 target price on shares of Patterson Companies in a research note on Thursday, August 31st. Piper Sandler upped their target price on Patterson Companies from $35.00 to $39.00 in a research note on Thursday, June 22nd. Finally, StockNews.com started coverage on Patterson Companies in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $36.17.
Patterson Companies Stock Performance
Shares of NASDAQ:PDCO opened at $29.34 on Thursday. The firm has a market capitalization of $2.81 billion, a PE ratio of 13.40, a P/E/G ratio of 1.28 and a beta of 1.31. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.63 and a quick ratio of 0.79. The business has a 50-day moving average of $31.02 and a two-hundred day moving average of $29.52. Patterson Companies, Inc. has a 12 month low of $24.96 and a 12 month high of $34.53.
Patterson Companies (NASDAQ:PDCO – Get Free Report) last posted its earnings results on Wednesday, August 30th. The company reported $0.40 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.40. The business had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.58 billion. Patterson Companies had a return on equity of 22.24% and a net margin of 3.28%. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.32 earnings per share. As a group, research analysts forecast that Patterson Companies, Inc. will post 2.5 earnings per share for the current year.
Patterson Companies Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, November 3rd. Stockholders of record on Friday, October 20th will be paid a $0.26 dividend. The ex-dividend date is Thursday, October 19th. This represents a $1.04 annualized dividend and a dividend yield of 3.54%. Patterson Companies’s dividend payout ratio (DPR) is presently 47.49%.
Insider Activity at Patterson Companies
In other Patterson Companies news, insider Timothy E. Rogan sold 9,260 shares of the business’s stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $29.75, for a total value of $275,485.00. Following the transaction, the insider now owns 40,382 shares in the company, valued at approximately $1,201,364.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Patterson Companies news, insider Les B. Korsh sold 3,686 shares of the firm’s stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $32.47, for a total transaction of $119,684.42. Following the completion of the sale, the insider now owns 78,095 shares in the company, valued at approximately $2,535,744.65. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Timothy E. Rogan sold 9,260 shares of Patterson Companies stock in a transaction that occurred on Thursday, October 5th. The stock was sold at an average price of $29.75, for a total value of $275,485.00. Following the sale, the insider now owns 40,382 shares in the company, valued at $1,201,364.50. The disclosure for this sale can be found here. In the last three months, insiders sold 18,566 shares of company stock valued at $577,707. Corporate insiders own 1.50% of the company’s stock.
Patterson Companies Company 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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