Atria Investments LLC bought a new position in Patterson Companies, Inc. (NASDAQ:PDCO) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 79,096 shares of the company’s stock, valued at approximately $2,858,000. Atria Investments LLC owned approximately 0.08% of Patterson Companies at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of the business. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of Patterson Companies by 46.0% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,878,432 shares of the company’s stock valued at $188,551,000 after purchasing an additional 1,536,422 shares in the last quarter. Thompson Siegel & Walmsley LLC boosted its stake in shares of Patterson Companies by 152.8% during the third quarter. Thompson Siegel & Walmsley LLC now owns 885,174 shares of the company’s stock valued at $34,212,000 after purchasing an additional 535,029 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Patterson Companies by 114.1% during the third quarter. Van ECK Associates Corp now owns 880,341 shares of the company’s stock valued at $34,025,000 after purchasing an additional 469,072 shares in the last quarter. Atlanta Capital Management Co. L L C bought a new position in shares of Patterson Companies during the third quarter valued at approximately $10,453,000. Finally, Shell Asset Management Co. boosted its stake in shares of Patterson Companies by 2,700.1% during the third quarter. Shell Asset Management Co. now owns 253,859 shares of the company’s stock valued at $10,517,000 after purchasing an additional 244,793 shares in the last quarter. Institutional investors and hedge funds own 94.12% of the company’s stock.
A number of research firms have recently issued reports on PDCO. Zacks Investment Research upgraded shares of Patterson Companies from a “sell” rating to a “hold” rating in a research note on Monday, October 23rd. Piper Jaffray Companies began coverage on shares of Patterson Companies in a research note on Thursday, October 19th. They set a “neutral” rating and a $41.00 price objective on the stock. BidaskClub upgraded shares of Patterson Companies from a “sell” rating to a “hold” rating in a research note on Tuesday. Robert W. Baird reiterated a “buy” rating and set a $44.00 price objective on shares of Patterson Companies in a research note on Tuesday, September 26th. Finally, Morgan Stanley began coverage on shares of Patterson Companies in a research note on Thursday, September 21st. They set an “equal weight” rating and a $42.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $40.23.
In related news, insider Ann B. Gugino sold 750 shares of the stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $36.38, for a total transaction of $27,285.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John D. Buck purchased 2,834 shares of the firm’s stock in a transaction on Friday, November 24th. The stock was bought at an average cost of $34.93 per share, with a total value of $98,991.62. Following the acquisition, the director now owns 54,627 shares of the company’s stock, valued at approximately $1,908,121.11. The disclosure for this purchase can be found here. Corporate insiders own 0.46% of the company’s stock.
Shares of Patterson Companies, Inc. (NASDAQ PDCO) opened at $36.85 on Thursday. Patterson Companies, Inc. has a 52-week low of $32.07 and a 52-week high of $48.29. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.10 and a current ratio of 1.94. The company has a market cap of $3,530.00, a P/E ratio of 21.68, a P/E/G ratio of 2.10 and a beta of 0.95.
Patterson Companies (NASDAQ:PDCO) last posted its earnings results on Tuesday, November 21st. The company reported $0.51 EPS for the quarter, missing the Zacks’ 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 firm had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same period in the previous year, the company earned $0.56 EPS. The company’s revenue was down 2.3% on a year-over-year basis. equities analysts forecast that Patterson Companies, Inc. will post 2.11 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 26th. Investors of record on Friday, January 12th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, January 11th. This represents a $1.04 dividend on an annualized basis and a yield of 2.82%. Patterson Companies’s payout ratio is 61.18%.
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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.
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