Hanson McClain Inc. purchased a new position in shares of Patterson Companies, Inc. (NASDAQ:PDCO) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 7,334 shares of the company’s stock, valued at approximately $265,000.
Other large investors have also recently added to or reduced their stakes in the company. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in Patterson Companies by 6.2% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,182,834 shares of the company’s stock valued at $187,255,000 after acquiring an additional 304,402 shares in the last quarter. Fairpointe Capital LLC raised its holdings in Patterson Companies by 5.7% in the 4th quarter. Fairpointe Capital LLC now owns 3,974,188 shares of the company’s stock valued at $143,588,000 after acquiring an additional 213,341 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Patterson Companies by 70.7% in the 4th quarter. Bank of New York Mellon Corp now owns 1,681,338 shares of the company’s stock valued at $60,747,000 after acquiring an additional 696,540 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Patterson Companies by 46.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,544,632 shares of the company’s stock valued at $55,808,000 after acquiring an additional 492,936 shares in the last quarter. Finally, Guggenheim Capital LLC raised its holdings in Patterson Companies by 24.6% in the 4th quarter. Guggenheim Capital LLC now owns 1,467,613 shares of the company’s stock valued at $53,024,000 after acquiring an additional 289,732 shares in the last quarter. 94.45% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have weighed in on the company. BidaskClub cut Patterson Companies from a “hold” rating to a “sell” rating in a report on Thursday, December 7th. Evercore ISI cut Patterson Companies from an “in-line” rating to an “underperform” rating in a report on Thursday, March 1st. Barclays assumed coverage on Patterson Companies in a report on Thursday, March 8th. They issued an “underweight” rating and a $23.00 price objective for the company. Robert W. Baird cut Patterson Companies from an “outperform” rating to a “neutral” rating in a report on Thursday, March 1st. Finally, JPMorgan Chase & Co. cut Patterson Companies from a “neutral” rating to an “underweight” rating and dropped their price objective for the company from $40.00 to $36.00 in a report on Thursday, February 15th. Six investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. Patterson Companies presently has an average rating of “Hold” and an average price target of $37.30.
In related news, insider Ann B. Gugino sold 750 shares of the business’s stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $36.38, for a total transaction of $27,285.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.46% of the company’s stock.
Patterson Companies stock opened at $22.47 on Thursday. The company has a current ratio of 1.80, a quick ratio of 1.00 and a debt-to-equity ratio of 0.64. Patterson Companies, Inc. has a fifty-two week low of $22.16 and a fifty-two week high of $48.29. The company has a market capitalization of $2,119.80, a price-to-earnings ratio of 8.70, a PEG ratio of 1.78 and a beta of 0.98.
Patterson Companies (NASDAQ:PDCO) last posted its quarterly earnings results on Thursday, March 1st. The company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.09). Patterson Companies had a return on equity of 13.85% and a net margin of 4.39%. The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same period last year, the firm posted $0.58 EPS. Patterson Companies’s quarterly revenue was down 1.6% on a year-over-year basis. research analysts expect that Patterson Companies, Inc. will post 1.69 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 27th. Investors of record on Friday, April 13th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, April 12th. This represents a $1.04 dividend on an annualized basis and a yield of 4.63%. Patterson Companies’s dividend payout ratio is currently 40.15%.
Patterson Companies announced that its Board of Directors has authorized a share repurchase program on Tuesday, March 13th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.
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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