Strs Ohio lessened its stake in Patterson Companies, Inc. (NASDAQ:PDCO) by 6.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,600 shares of the company’s stock after selling 2,800 shares during the quarter. Strs Ohio’s holdings in Patterson Companies were worth $998,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently bought and sold shares of the company. Legal & General Group Plc raised its position in shares of Patterson Companies by 1.7% in the 4th quarter. Legal & General Group Plc now owns 110,521 shares of the company’s stock worth $2,173,000 after purchasing an additional 1,892 shares during the last quarter. Biechele Royce Advisors raised its position in shares of Patterson Companies by 4.7% in the 2nd quarter. Biechele Royce Advisors now owns 277,997 shares of the company’s stock worth $6,366,000 after purchasing an additional 12,502 shares during the last quarter. First Citizens Bank & Trust Co. purchased a new position in shares of Patterson Companies in the 1st quarter worth about $359,000. AJO LP purchased a new position in shares of Patterson Companies in the 1st quarter worth about $449,000. Finally, Lapides Asset Management LLC raised its position in shares of Patterson Companies by 2.5% in the 1st quarter. Lapides Asset Management LLC now owns 93,000 shares of the company’s stock worth $2,032,000 after purchasing an additional 2,300 shares during the last quarter. 93.23% of the stock is owned by hedge funds and other institutional investors.
PDCO has been the subject of several recent analyst reports. BidaskClub lowered Patterson Companies from a “hold” rating to a “sell” rating in a research report on Tuesday, August 6th. Zacks Investment Research raised Patterson Companies from a “sell” rating to a “hold” rating and set a $23.00 target price for the company in a research report on Monday, June 10th. JPMorgan Chase & Co. decreased their target price on Patterson Companies from $22.00 to $20.00 and set an “underweight” rating for the company in a research report on Friday, June 28th. Wolfe Research began coverage on Patterson Companies in a research report on Thursday, May 30th. They issued an “underperform” rating for the company. Finally, Guggenheim began coverage on Patterson Companies in a research report on Wednesday, April 17th. They issued a “neutral” rating and a $23.00 target price for the company. Seven investment analysts have rated the stock with a sell rating and three have given a hold rating to the stock. The company currently has an average rating of “Sell” and an average target price of $21.14.
Patterson Companies (NASDAQ:PDCO) last issued its earnings results on Thursday, June 27th. The company reported $0.37 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.03). Patterson Companies had a return on equity of 8.94% and a net margin of 1.50%. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same period last year, the firm posted $0.30 EPS. Patterson Companies’s quarterly revenue was up 2.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Patterson Companies, Inc. will post 1.38 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 26th. Shareholders of record on Friday, July 12th were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 5.90%. The ex-dividend date was Thursday, July 11th. Patterson Companies’s dividend payout ratio (DPR) is 74.29%.
Patterson Companies Company Profile
Patterson Companies, Inc distributes and sells dental and animal health products in the United States, the United Kingdom, and Canada. It operates through Dental and Animal Health segments. The company's Dental segment offers consumable products, such as infection control, restorative materials, hand instruments, and sterilization products; basic and advanced technology dental equipment; patient education systems; and office forms and stationery.
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