Evergreen Capital Management LLC Makes New Investment in Patterson Companies, Inc. (NASDAQ:PDCO)

Evergreen Capital Management LLC acquired a new stake in Patterson Companies, Inc. (NASDAQ:PDCO) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 8,741 shares of the company’s stock, valued at approximately $211,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Public Sector Pension Investment Board raised its position in Patterson Companies by 3.8% in the second quarter. Public Sector Pension Investment Board now owns 175,411 shares of the company’s stock worth $4,231,000 after purchasing an additional 6,372 shares in the last quarter. Steel Grove Capital Advisors LLC bought a new position in shares of Patterson Companies during the 2nd quarter worth approximately $1,682,000. Sei Investments Co. boosted its stake in Patterson Companies by 24.9% in the 2nd quarter. Sei Investments Co. now owns 51,313 shares of the company’s stock valued at $1,238,000 after buying an additional 10,220 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in Patterson Companies in the second quarter valued at $41,000. Finally, XTX Topco Ltd acquired a new position in Patterson Companies during the second quarter worth $1,079,000. 85.43% of the stock is owned by institutional investors.

Insider Transactions at Patterson Companies

In related news, CEO Donald Zurbay sold 7,216 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $24.99, for a total value of $180,327.84. Following the sale, the chief executive officer now directly owns 230,072 shares in the company, valued at approximately $5,749,499.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Patterson Companies news, CEO Donald Zurbay sold 7,216 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The shares were 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 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. Also, CFO Kevin Michael Barry sold 1,216 shares of Patterson Companies stock in a transaction on Wednesday, July 3rd. The stock was 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 in the company, valued at $986,870.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,149 shares of company stock worth $415,851. 1.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on PDCO shares. Bank of America reduced their target price on shares of Patterson Companies from $31.00 to $29.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Robert W. Baird decreased their price objective on shares of Patterson Companies from $30.00 to $28.00 and set a “neutral” rating on the stock in a research note 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 research note on Thursday, August 29th. StockNews.com lowered Patterson Companies from a “buy” rating to a “hold” rating in a research report on Saturday, June 1st. Finally, UBS Group cut their price objective on Patterson Companies from $27.00 to $24.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. Nine research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $28.40.

Patterson Companies Trading Up 2.9 %

Shares of PDCO opened at $22.16 on Friday. The stock’s fifty day simple moving average is $23.42 and its 200-day simple moving average is $24.61. Patterson Companies, Inc. has a 12-month low of $19.96 and a 12-month high of $32.58. The firm has a market capitalization of $1.95 billion, a PE ratio of 11.08, a price-to-earnings-growth ratio of 1.57 and a beta of 1.02. 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 issued its earnings results on Wednesday, August 28th. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.08). Patterson Companies had a net margin of 2.58% and a return on equity of 19.87%. The business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter in the previous year, the firm posted $0.40 EPS. The business’s revenue was down 2.3% on a year-over-year basis. As a group, research analysts predict that Patterson Companies, Inc. will post 2.33 earnings per share for the current year.

Patterson Companies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 18th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 4.69%. The ex-dividend date of this dividend is Friday, October 18th. Patterson Companies’s dividend payout ratio (DPR) is currently 52.00%.

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.