Mason Street Advisors LLC purchased a new stake in Patterson Cos. (NASDAQ:PDCO) during the second quarter, Holdings Channel reports. The institutional investor purchased 11,211 shares of the company’s stock, valued at approximately $537,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Benjamin F. Edwards & Company Inc. increased its position in shares of Patterson Cos. by 0.5% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,358 shares of the company’s stock valued at $113,000 after buying an additional 12 shares in the last quarter. TLP Group LLC acquired a new position in shares of Patterson Cos. during the second quarter valued at approximately $140,000. Friess Associates LLC acquired a new position in shares of Patterson Cos. during the first quarter valued at approximately $151,000. Advisors Asset Management Inc. increased its position in shares of Patterson Cos. by 27.4% in the second quarter. Advisors Asset Management Inc. now owns 3,523 shares of the company’s stock valued at $169,000 after buying an additional 757 shares in the last quarter. Finally, Fifth Third Bancorp increased its position in shares of Patterson Cos. by 30.2% in the second quarter. Fifth Third Bancorp now owns 3,871 shares of the company’s stock valued at $185,000 after buying an additional 899 shares in the last quarter. 77.29% of the stock is currently owned by institutional investors.
Shares of Patterson Cos. (NASDAQ:PDCO) opened at 45.32 on Tuesday. The company has a market capitalization of $4.33 billion, a PE ratio of 22.35 and a beta of 0.94. Patterson Cos. has a 12 month low of $38.51 and a 12 month high of $50.40. The firm has a 50-day moving average price of $46.12 and a 200-day moving average price of $46.62.
Patterson Cos. (NASDAQ:PDCO) last announced its earnings results on Thursday, August 25th. The company reported $0.51 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.51. The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.35 billion. Patterson Cos. had a return on equity of 17.42% and a net margin of 3.52%. The business’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.47 EPS. On average, equities research analysts predict that Patterson Cos. will post $2.67 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Friday, October 14th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.12%. The ex-dividend date is Wednesday, October 12th. Patterson Cos.’s payout ratio is presently 47.29%.
A number of research firms have recently issued reports on PDCO. Zacks Investment Research upgraded Patterson Cos. from a “sell” rating to a “hold” rating in a research report on Thursday, September 22nd. TheStreet cut Patterson Cos. from a “buy” rating to a “hold” rating in a research report on Thursday, September 1st. Evercore ISI restated a “hold” rating and set a $48.00 price objective (down from $49.00) on shares of Patterson Cos. in a research report on Friday, August 26th. Robert W. Baird restated a “neutral” rating and set a $49.00 price objective (down from $51.00) on shares of Patterson Cos. in a research report on Friday, August 26th. Finally, Bank of America Corp. began coverage on Patterson Cos. in a research report on Wednesday, August 24th. They set an “underperform” rating and a $44.00 price objective on the stock. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $48.40.
In other Patterson Cos. news, insider Ann B. Gugino sold 750 shares of Patterson Cos. stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $46.22, for a total transaction of $34,665.00. Following the transaction, the insider now directly owns 40,153 shares of the company’s stock, valued at approximately $1,855,871.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.46% of the company’s stock.
About Patterson Cos.
Patterson Companies, Inc is a distributor serving the dental, veterinary and rehabilitation supply markets. The Company operates through three segments: dental supply, veterinary supply and rehabilitation supply. The dental supply segment provides a range of consumable dental products, clinical and laboratory equipment, and value-added services to dentists, dental laboratories, institutions and other dental healthcare providers across North America.
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