Alyeska Investment Group L.P. acquired a new position in shares of Patterson Companies, Inc. (NASDAQ:PDCO) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 76,611 shares of the company’s stock, valued at approximately $2,961,000. Alyeska Investment Group L.P. owned about 0.08% of Patterson Companies at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Amica Retiree Medical Trust grew its stake in Patterson Companies by 433.8% during the third quarter. Amica Retiree Medical Trust now owns 2,989 shares of the company’s stock worth $116,000 after buying an additional 2,429 shares during the last quarter. Advisory Services Network LLC lifted its position in shares of Patterson Companies by 423.4% during the second quarter. Advisory Services Network LLC now owns 2,523 shares of the company’s stock worth $118,000 after purchasing an additional 2,041 shares in the last quarter. Commonwealth Bank of Australia lifted its position in shares of Patterson Companies by 15.9% during the second quarter. Commonwealth Bank of Australia now owns 3,027 shares of the company’s stock worth $140,000 after purchasing an additional 415 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Patterson Companies by 4.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,576 shares of the company’s stock worth $168,000 after purchasing an additional 150 shares in the last quarter. Finally, Sciencast Management LP acquired a new position in shares of Patterson Companies during the second quarter worth approximately $205,000. 93.36% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CFO Ann B. Gugino sold 750 shares of the stock in a transaction that occurred on Wednesday, October 11th. The shares were sold at an average price of $36.73, for a total value of $27,547.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John D. Buck acquired 2,834 shares of the business’s stock in a transaction that occurred on Friday, November 24th. The stock was acquired at an average price of $34.93 per share, for a total transaction of $98,991.62. Following the completion of the acquisition, the director now directly owns 54,627 shares of the company’s stock, valued at $1,908,121.11. The disclosure for this purchase can be found here. Corporate insiders own 0.46% of the company’s stock.
A number of equities analysts have recently issued reports on the stock. BidaskClub lowered shares of Patterson Companies from a “hold” rating to a “sell” rating in a research report on Thursday, December 7th. Royal Bank of Canada assumed coverage on shares of Patterson Companies in a research report on Tuesday, September 19th. They set a “sector perform” rating and a $42.00 target price on the stock. Cleveland Research reiterated a “hold” rating on shares of Patterson Companies in a research report on Tuesday, August 22nd. Stifel Nicolaus reduced their target price on shares of Patterson Companies from $39.00 to $34.00 and set a “sell” rating on the stock in a research report on Tuesday, August 15th. Finally, Robert W. Baird reiterated a “buy” rating and set a $40.00 target price on shares of Patterson Companies in a research report on Wednesday, November 22nd. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. Patterson Companies presently has a consensus rating of “Hold” and an average price target of $40.40.
Patterson Companies, Inc. (PDCO) opened at $35.79 on Wednesday. Patterson Companies, Inc. has a twelve month low of $32.07 and a twelve month high of $48.29. The firm has a market cap of $3,367.20, a P/E ratio of 15.99, a P/E/G ratio of 2.03 and a beta of 0.95. The company has a quick ratio of 1.10, a current ratio of 1.94 and a debt-to-equity ratio of 0.73.
Patterson Companies (NASDAQ:PDCO) last announced its quarterly earnings data on Tuesday, November 21st. The company reported $0.51 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.03). Patterson Companies had a net margin of 2.84% and a return on equity of 15.19%. The business had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the prior year, the company earned $0.56 earnings per share. The company’s quarterly revenue was down 2.3% on a year-over-year basis. equities analysts predict that Patterson Companies, Inc. will post 2.06 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 26th. Investors of record on Friday, January 12th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.91%. Patterson Companies’s dividend payout ratio is currently 62.28%.
COPYRIGHT VIOLATION WARNING: “Alyeska Investment Group L.P. Acquires New Position in Patterson Companies, Inc. (PDCO)” was first reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this article on another domain, it was stolen and reposted in violation of international copyright & trademark law. The legal version of this article can be accessed at https://ledgergazette.com/2017/12/13/alyeska-investment-group-l-p-acquires-new-position-in-patterson-companies-inc-pdco.html.
About Patterson Companies
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.
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.