Westwood Holdings Group Inc. Has $572,000 Stock Holdings in Patterson Companies, Inc. (NASDAQ:PDCO)

Westwood Holdings Group Inc. lowered its position in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 99.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,720 shares of the company’s stock after selling 2,346,355 shares during the quarter. Westwood Holdings Group Inc.’s holdings in Patterson Companies were worth $572,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of PDCO. LRI Investments LLC lifted its position in shares of Patterson Companies by 201.2% in the second quarter. LRI Investments LLC now owns 1,262 shares of the company’s stock worth $30,000 after purchasing an additional 843 shares in the last quarter. Mather Group LLC. lifted its position in Patterson Companies by 1,376.1% during the 2nd quarter. Mather Group LLC. now owns 1,609 shares of the company’s stock worth $39,000 after buying an additional 1,500 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Patterson Companies during the 2nd quarter worth about $41,000. Family Firm Inc. bought a new position in shares of Patterson Companies in the 2nd quarter valued at about $45,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Patterson Companies in the second quarter valued at about $45,000. Institutional investors and hedge funds own 85.43% of the company’s stock.

Patterson Companies Trading Down 3.0 %

Shares of PDCO stock opened at $21.59 on Monday. Patterson Companies, Inc. has a 12-month low of $19.96 and a 12-month high of $32.58. The company has a market capitalization of $1.90 billion, a PE ratio of 10.80, a price-to-earnings-growth ratio of 1.58 and a beta of 1.02. The firm has a 50 day moving average price of $23.81 and a two-hundred day moving average price of $24.77. The company has a quick ratio of 0.67, a current ratio of 1.30 and a debt-to-equity ratio of 0.34.

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

Patterson Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 18th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 4.82%. The ex-dividend date of this dividend is Friday, October 18th. Patterson Companies’s dividend payout ratio is 52.00%.

Insiders Place Their Bets

In other news, CFO Kevin Michael Barry sold 1,216 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $23.72, for a total transaction of $28,843.52. Following the transaction, the chief financial officer now directly owns 41,605 shares of the company’s stock, valued at $986,870.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Kevin Michael Barry sold 1,216 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $23.72, for a total value of $28,843.52. Following the transaction, the chief financial officer now owns 41,605 shares in the company, valued at $986,870.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Donald Zurbay sold 5,875 shares of the stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $23.71, for a total transaction of $139,296.25. Following the sale, the chief executive officer now owns 237,288 shares in the company, valued at $5,626,098.48. The disclosure for this sale can be found here. Insiders sold 17,149 shares of company stock worth $415,851 in the last quarter. 1.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PDCO. Robert W. Baird decreased their price target on Patterson Companies from $30.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th. StockNews.com downgraded shares of Patterson Companies from a “buy” rating to a “hold” rating in a report on Saturday, June 1st. Evercore ISI cut their price target on shares of Patterson Companies from $25.00 to $23.00 and set an “in-line” rating for the company in a research note on Thursday, August 29th. Bank of America decreased their price objective on shares of Patterson Companies from $31.00 to $29.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Finally, Morgan Stanley dropped their target price on shares of Patterson Companies from $30.00 to $28.00 and set an “equal weight” rating on the stock in a report on Thursday, June 20th. Nine equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $28.40.

Patterson Companies Company 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.