Public Sector Pension Investment Board Increases Stock Holdings in Patterson Companies, Inc. (NASDAQ:PDCO)

Public Sector Pension Investment Board raised its holdings in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 3.8% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 175,411 shares of the company’s stock after purchasing an additional 6,372 shares during the period. Public Sector Pension Investment Board’s holdings in Patterson Companies were worth $4,231,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. LRI Investments LLC grew 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 valued at $30,000 after purchasing an additional 843 shares during the last quarter. Mather Group LLC. grew its holdings in 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 buying an additional 1,500 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Patterson Companies in the second quarter worth $41,000. Family Firm Inc. purchased a new stake in shares of Patterson Companies in the second quarter valued at $45,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Patterson Companies during the second quarter valued at $45,000. Institutional investors and hedge funds own 85.43% of the company’s stock.

Insider Buying and Selling at Patterson Companies

In other news, insider Les B. Korsh sold 2,842 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 value of $67,383.82. Following the completion of the sale, the insider now owns 103,765 shares in the company, valued at $2,460,268.15. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Les B. Korsh sold 2,842 shares of the business’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $23.71, for a total transaction of $67,383.82. Following the transaction, the insider now directly owns 103,765 shares of the company’s stock, valued at $2,460,268.15. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Donald Zurbay sold 5,875 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $23.71, for a total transaction of $139,296.25. Following the sale, the chief executive officer now directly owns 237,288 shares of the company’s stock, valued at $5,626,098.48. The disclosure for this sale can be found here. Insiders have sold 17,149 shares of company stock valued at $415,851 over the last three months. 1.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

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

Patterson Companies Stock Performance

Patterson Companies stock opened at $21.53 on Friday. The company has a market cap of $1.90 billion, a price-to-earnings ratio of 10.77, a price-to-earnings-growth ratio of 1.57 and a beta of 1.02. Patterson Companies, Inc. has a 12 month low of $19.96 and a 12 month high of $32.58. 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 stock’s 50-day moving average is $23.57 and its 200-day moving average is $24.67.

Patterson Companies (NASDAQ:PDCO) last announced its quarterly earnings results on Wednesday, August 28th. The company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $1.59 billion. During the same period last year, the firm earned $0.40 earnings per share. The company’s quarterly revenue was down 2.3% on a year-over-year basis. Equities analysts anticipate that Patterson Companies, Inc. will post 2.33 earnings per share for the current year.

Patterson Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 18th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $1.04 annualized dividend and a yield of 4.83%. Patterson Companies’s dividend payout ratio 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.