Central Pacific Bank Trust Division Sells 2,000 Shares of Patterson Companies, Inc. (NASDAQ:PDCO)

Central Pacific Bank Trust Division lessened its holdings in Patterson Companies, Inc. (NASDAQ:PDCO) by 28.6% during the 4th quarter, Holdings Channel reports. The firm owned 5,000 shares of the company’s stock after selling 2,000 shares during the period. Central Pacific Bank Trust Division’s holdings in Patterson Companies were worth $154,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of PDCO. Canada Pension Plan Investment Board bought a new position in Patterson Companies in the second quarter valued at approximately $41,000. GAMMA Investing LLC boosted its position in shares of Patterson Companies by 103.0% in the 4th quarter. GAMMA Investing LLC now owns 1,340 shares of the company’s stock worth $41,000 after purchasing an additional 680 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Patterson Companies during the second quarter worth $45,000. International Assets Investment Management LLC increased its holdings in Patterson Companies by 2,084.0% in the third quarter. International Assets Investment Management LLC now owns 2,184 shares of the company’s stock valued at $48,000 after purchasing an additional 2,084 shares during the last quarter. Finally, Anchor Investment Management LLC lifted its stake in Patterson Companies by 20.5% in the third quarter. Anchor Investment Management LLC now owns 2,350 shares of the company’s stock valued at $51,000 after buying an additional 400 shares during the period. Institutional investors and hedge funds own 85.43% of the company’s stock.

Patterson Companies Price Performance

NASDAQ PDCO opened at $30.82 on Friday. The firm’s 50 day moving average is $24.73 and its 200-day moving average is $23.68. The company has a quick ratio of 0.76, a current ratio of 1.37 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $2.72 billion, a PE ratio of 18.02, a price-to-earnings-growth ratio of 2.70 and a beta of 1.00. Patterson Companies, Inc. has a 12-month low of $19.45 and a 12-month high of $31.79.

Patterson Companies (NASDAQ:PDCO) last issued its quarterly earnings results on Thursday, December 5th. The company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.02). Patterson Companies had a net margin of 2.37% and a return on equity of 19.77%. The business had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the previous year, the firm posted $0.50 earnings per share. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. Equities research analysts anticipate that Patterson Companies, Inc. will post 2.26 earnings per share for the current fiscal year.

Insider Activity at Patterson Companies

In other news, CEO Donald Zurbay sold 1,962 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $23.08, for a total transaction of $45,282.96. Following the sale, the chief executive officer now owns 222,736 shares in the company, valued at $5,140,746.88. This represents a 0.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. StockNews.com initiated coverage on Patterson Companies in a research note on Sunday, December 29th. They issued a “hold” rating for the company. Morgan Stanley increased their target price on shares of Patterson Companies from $27.00 to $31.35 and gave the stock an “equal weight” rating in a report on Tuesday, December 17th. Mizuho initiated coverage on shares of Patterson Companies in a report on Wednesday, December 4th. They issued a “neutral” rating and a $23.00 price target for the company. Evercore ISI dropped their price objective on Patterson Companies from $23.00 to $22.00 and set an “in-line” rating on the stock in a research note on Tuesday, October 8th. Finally, Stifel Nicolaus decreased their target price on Patterson Companies from $25.00 to $24.00 and set a “hold” rating for the company in a research note on Thursday, December 5th. Eleven analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $26.57.

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.