Maryland State Retirement & Pension System Sells 1,916 Shares of Patterson Companies, Inc. (NASDAQ:PDCO)

Maryland State Retirement & Pension System lowered its position in Patterson Companies, Inc. (NASDAQ:PDCO) by 6.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 27,801 shares of the company’s stock after selling 1,916 shares during the period. Maryland State Retirement & Pension System’s holdings in Patterson Companies were worth $671,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. LRI Investments LLC raised its position in shares of Patterson Companies by 201.2% during the second quarter. LRI Investments LLC now owns 1,262 shares of the company’s stock valued at $30,000 after buying an additional 843 shares during the last quarter. GAMMA Investing LLC bought a new stake in Patterson Companies in the 4th quarter valued at $32,000. Spire Wealth Management purchased a new stake in Patterson Companies in the 1st quarter worth $35,000. Mather Group LLC. boosted its holdings in shares of Patterson Companies by 1,376.1% during the 2nd quarter. Mather Group LLC. now owns 1,609 shares of the company’s stock valued at $39,000 after purchasing an additional 1,500 shares during the last quarter. Finally, Family Firm Inc. purchased a new position in shares of Patterson Companies during the second quarter valued at about $45,000. Hedge funds and other institutional investors own 85.43% of the company’s stock.

Patterson Companies Price Performance

PDCO stock opened at $22.49 on Tuesday. The stock has a market cap of $1.98 billion, a PE ratio of 11.25, a P/E/G ratio of 2.13 and a beta of 1.06. Patterson Companies, Inc. has a 12 month low of $21.56 and a 12 month high of $32.58. The company has a 50-day moving average price of $24.53 and a 200 day moving average price of $25.45. The company has a current ratio of 1.30, a quick ratio of 0.75 and a debt-to-equity ratio of 0.34.

Patterson Companies (NASDAQ:PDCO) last announced its earnings results on Wednesday, August 28th. The company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.08). The business had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.59 billion. Patterson Companies had a net margin of 2.58% and a return on equity of 19.87%. The firm’s quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.40 EPS. Equities research analysts anticipate that Patterson Companies, Inc. will post 2.33 earnings per share for the current year.

Patterson Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 2nd. Shareholders of record on Friday, July 19th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 4.62%. The ex-dividend date of this dividend was Friday, July 19th. Patterson Companies’s dividend payout ratio (DPR) is presently 52.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on PDCO shares. Robert W. Baird decreased their target price on Patterson Companies from $30.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. JPMorgan Chase & Co. cut their target price on shares of Patterson Companies from $29.00 to $26.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. StockNews.com downgraded shares of Patterson Companies from a “buy” rating to a “hold” rating in a research note on Saturday, June 1st. Morgan Stanley dropped their price objective on shares of Patterson Companies from $30.00 to $28.00 and set an “equal weight” rating for the company in a research note on Thursday, June 20th. Finally, Evercore ISI reduced their target price on shares of Patterson Companies from $25.00 to $23.00 and set an “in-line” rating on the stock in a report on Thursday, August 29th. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Patterson Companies has an average rating of “Hold” and a consensus target price of $28.89.

Insiders Place Their Bets

In other news, CEO Donald Zurbay sold 7,216 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $24.99, for a total transaction of $180,327.84. Following the completion of the sale, the chief executive officer now directly owns 230,072 shares of the company’s stock, valued at $5,749,499.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Donald Zurbay sold 7,216 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $24.99, for a total value of $180,327.84. Following the completion of the sale, the chief executive officer now owns 230,072 shares in the company, valued at $5,749,499.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Les B. Korsh sold 2,842 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $23.71, for a total value of $67,383.82. Following the completion of the transaction, the insider now directly owns 103,765 shares in the company, valued at approximately $2,460,268.15. The disclosure for this sale can be found here. Insiders have sold a total of 17,149 shares of company stock worth $415,851 over the last quarter. Company insiders own 1.50% of the company’s stock.

Patterson Companies Profile

Patterson Companies, Inc engages in the distribution of dental and animal health products in the United States, the United Kingdom, and Canada. The company operates through three segments: Dental, Animal Health, and Corporate segments. The Dental segment offers consumable products, including infection control, restorative materials, and instruments; basic and advanced technology and dental equipment; practice optimization solutions, such as practice management software, e-commerce, revenue cycle management, patient engagement solutions, and clinical and patient education systems.