Russell Investments Group Ltd. increased its position in shares of Patterson Companies, Inc. (NASDAQ:PDCO – Free Report) by 88.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,550 shares of the company’s stock after purchasing an additional 9,619 shares during the period. Russell Investments Group Ltd.’s holdings in Patterson Companies were worth $550,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Patterson Companies by 1.6% during the third quarter. Vanguard Group Inc. now owns 9,099,018 shares of the company’s stock worth $218,558,000 after purchasing an additional 147,277 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Patterson Companies by 2.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,117,985 shares of the company’s stock valued at $115,428,000 after acquiring an additional 100,416 shares during the last quarter. American Century Companies Inc. lifted its position in Patterson Companies by 1.2% in the fourth quarter. American Century Companies Inc. now owns 2,971,202 shares of the company’s stock valued at $83,283,000 after acquiring an additional 34,268 shares during the last quarter. State Street Corp lifted its position in Patterson Companies by 3.3% in the third quarter. State Street Corp now owns 2,875,503 shares of the company’s stock valued at $69,070,000 after acquiring an additional 91,095 shares during the last quarter. Finally, Nordea Investment Management AB lifted its position in Patterson Companies by 0.8% in the first quarter. Nordea Investment Management AB now owns 2,466,668 shares of the company’s stock valued at $65,564,000 after acquiring an additional 18,913 shares during the last quarter. Institutional investors and hedge funds own 79.24% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on PDCO. Robert W. Baird boosted their price target on shares of Patterson Companies from $31.00 to $35.00 in a research report on Thursday, June 22nd. Piper Sandler upped their target price on shares of Patterson Companies from $35.00 to $39.00 in a report on Thursday, June 22nd. Stifel Nicolaus reaffirmed a “hold” rating and issued a $32.00 target price on shares of Patterson Companies in a report on Thursday. Bank of America upped their target price on shares of Patterson Companies from $35.00 to $40.00 in a report on Thursday, June 22nd. Finally, StockNews.com cut shares of Patterson Companies from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $35.00.
Insiders Place Their Bets
In other news, insider Les B. Korsh sold 3,500 shares of the stock in a transaction that occurred on Wednesday, June 21st. The shares were sold at an average price of $31.75, for a total value of $111,125.00. Following the sale, the insider now directly owns 67,949 shares in the company, valued at $2,157,380.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Donald Zurbay sold 1,666 shares of the firm’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $32.34, for a total value of $53,878.44. Following the transaction, the chief executive officer now owns 143,819 shares of the company’s stock, valued at approximately $4,651,106.46. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Les B. Korsh sold 3,500 shares of the firm’s stock in a transaction on Wednesday, June 21st. The shares were sold at an average price of $31.75, for a total transaction of $111,125.00. Following the sale, the insider now directly owns 67,949 shares of the company’s stock, valued at $2,157,380.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,380 shares of company stock worth $496,590. 1.50% of the stock is owned by company insiders.
Patterson Companies Trading Up 0.6 %
NASDAQ PDCO opened at $30.23 on Friday. The stock has a market capitalization of $2.89 billion, a P/E ratio of 14.26, a P/E/G ratio of 1.48 and a beta of 1.30. Patterson Companies, Inc. has a 52-week low of $23.87 and a 52-week high of $34.53. The firm has a 50-day moving average price of $32.79 and a 200 day moving average price of $29.09. The company has a quick ratio of 0.91, a current ratio of 1.64 and a debt-to-equity ratio of 0.40.
Patterson Companies (NASDAQ:PDCO – Get Free Report) last issued its earnings results on Wednesday, August 30th. The company reported $0.40 earnings per share for the quarter, hitting the consensus estimate of $0.40. Patterson Companies had a net margin of 3.21% and a return on equity of 22.04%. The company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same period in the prior year, the business posted $0.32 earnings per share. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. Equities research analysts expect that Patterson Companies, Inc. will post 2.5 EPS for the current year.
Patterson Companies Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, August 4th. Shareholders of record on Friday, July 21st were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Thursday, July 20th. This represents a $1.04 annualized dividend and a yield of 3.44%. Patterson Companies’s payout ratio is currently 49.06%.
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.
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