104,460 Shares in Patterson Companies, Inc. (NASDAQ:PDCO) Purchased by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC purchased a new stake in Patterson Companies, Inc. (NASDAQ:PDCO) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 104,460 shares of the company’s stock, valued at approximately $2,520,000. Cubist Systematic Strategies LLC owned approximately 0.12% of Patterson Companies as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Equity Investment Corp acquired a new position in shares of Patterson Companies in the second quarter valued at $37,935,000. Private Management Group Inc. boosted its position in shares of Patterson Companies by 268.5% during the 2nd quarter. Private Management Group Inc. now owns 1,431,666 shares of the company’s stock valued at $34,532,000 after acquiring an additional 1,043,201 shares in the last quarter. Vanguard Group Inc. increased its stake in Patterson Companies by 7.9% in the first quarter. Vanguard Group Inc. now owns 10,018,184 shares of the company’s stock valued at $277,003,000 after acquiring an additional 730,819 shares during the period. LSV Asset Management raised its position in Patterson Companies by 58.8% in the second quarter. LSV Asset Management now owns 1,391,344 shares of the company’s stock worth $33,559,000 after purchasing an additional 515,299 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in Patterson Companies by 83.6% during the second quarter. American Century Companies Inc. now owns 902,759 shares of the company’s stock worth $21,775,000 after purchasing an additional 411,012 shares during the period. Institutional investors own 85.43% of the company’s stock.

Insider Buying and Selling at Patterson Companies

In other news, CEO Donald Zurbay sold 7,216 shares of the stock in a transaction 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 transaction, the chief executive officer now owns 230,072 shares of the company’s stock, valued at $5,749,499.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

PDCO has been the subject of a number of recent research reports. Evercore ISI dropped their target price on Patterson Companies from $23.00 to $22.00 and set an “in-line” rating for the company in a report on Tuesday. Robert W. Baird reduced their target price 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. lowered their target price on shares of Patterson Companies from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. Bank of America cut their price target on shares of Patterson Companies from $31.00 to $29.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Finally, UBS Group decreased their price objective on shares of Patterson Companies from $27.00 to $24.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. Nine equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Patterson Companies presently has an average rating of “Hold” and an average target price of $28.30.

Patterson Companies Stock Performance

PDCO stock opened at $20.64 on Friday. The stock has a market capitalization of $1.82 billion, a PE ratio of 11.28, a price-to-earnings-growth ratio of 1.46 and a beta of 1.02. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 0.67. The company has a 50 day moving average price of $22.52 and a 200 day moving average price of $24.21. Patterson Companies, Inc. has a fifty-two week low of $19.89 and a fifty-two week high of $32.58.

Patterson Companies (NASDAQ:PDCO) last issued its quarterly 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 firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.59 billion. Patterson Companies had a net margin of 2.58% and a return on equity of 19.87%. The company’s revenue was down 2.3% compared to the same quarter last year. During the same period last year, the company earned $0.40 EPS. Analysts forecast that Patterson Companies, Inc. will post 2.33 EPS for the current year.

Patterson Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Wednesday, October 16th will be issued a $0.26 dividend. The ex-dividend date is Friday, October 18th. This represents a $1.04 annualized dividend and a yield of 5.04%. Patterson Companies’s dividend payout ratio is currently 56.83%.

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.