Prospector Partners LLC Has $9.05 Million Stake in Patterson Companies, Inc. (PDCO)
Prospector Partners LLC cut its holdings in Patterson Companies, Inc. (NASDAQ:PDCO) by 1.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 234,200 shares of the company’s stock after selling 2,400 shares during the quarter. Patterson Companies comprises 1.4% of Prospector Partners LLC’s holdings, making the stock its 23rd biggest position. Prospector Partners LLC owned approximately 0.24% of Patterson Companies worth $9,052,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the stock. Northwestern Mutual Wealth Management Co. grew its position in shares of Patterson Companies by 4.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,576 shares of the company’s stock valued at $168,000 after purchasing an additional 150 shares during the period. Ridgewood Investments LLC grew its position in shares of Patterson Companies by 3.6% in the 2nd quarter. Ridgewood Investments LLC now owns 4,601 shares of the company’s stock valued at $216,000 after purchasing an additional 159 shares during the period. Nationwide Fund Advisors grew its position in shares of Patterson Companies by 0.3% in the 2nd quarter. Nationwide Fund Advisors now owns 84,243 shares of the company’s stock valued at $3,955,000 after purchasing an additional 253 shares during the period. Marietta Wealth Management LLC grew its position in shares of Patterson Companies by 3.5% in the 2nd quarter. Marietta Wealth Management LLC now owns 8,676 shares of the company’s stock valued at $407,000 after purchasing an additional 296 shares during the period. Finally, Norinchukin Bank The grew its position in shares of Patterson Companies by 5.9% in the 2nd quarter. Norinchukin Bank The now owns 5,662 shares of the company’s stock valued at $266,000 after purchasing an additional 317 shares during the period. Institutional investors and hedge funds own 93.36% of the company’s stock.
In related news, Director John D. Buck acquired 2,834 shares of the company’s stock in a transaction dated Friday, November 24th. The shares were bought at an average price of $34.93 per share, for a total transaction of $98,991.62. Following the purchase, the director now directly owns 54,627 shares in the company, valued at approximately $1,908,121.11. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Ann B. Gugino sold 750 shares of the company’s stock in a transaction that occurred on Wednesday, October 11th. The stock was sold at an average price of $36.73, for a total value of $27,547.50. The disclosure for this sale can be found here. Corporate insiders own 0.46% of the company’s stock.
Several brokerages recently issued reports on PDCO. Royal Bank Of Canada began coverage on Patterson Companies in a research report on Tuesday, September 19th. They issued a “sector perform” rating and a $42.00 price objective for the company. Cleveland Research reiterated a “hold” rating on shares of Patterson Companies in a research report on Tuesday, August 22nd. Stifel Nicolaus decreased their price objective on Patterson Companies from $39.00 to $34.00 and set a “sell” rating for the company in a research report on Tuesday, August 15th. Robert W. Baird reiterated a “buy” rating and issued a $40.00 price objective on shares of Patterson Companies in a research report on Wednesday, November 22nd. Finally, UBS upgraded Patterson Companies from a “sell” rating to a “hold” rating and set a $40.00 price objective for the company in a research report on Friday, August 25th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. Patterson Companies presently has a consensus rating of “Hold” and an average price target of $41.20.
Patterson Companies, Inc. (NASDAQ PDCO) opened at $34.81 on Thursday. Patterson Companies, Inc. has a 12-month low of $32.07 and a 12-month high of $48.29. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.10 and a current ratio of 1.94. The firm has a market capitalization of $3,478.58, a P/E ratio of 16.36, a price-to-earnings-growth ratio of 2.08 and a beta of 0.95.
Patterson Companies (NASDAQ:PDCO) last released its quarterly earnings results on Tuesday, November 21st. The company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.03). Patterson Companies had a return on equity of 15.19% and a net margin of 2.84%. The firm had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same period last year, the company earned $0.56 EPS. The company’s revenue was down 2.3% compared to the same quarter last year. sell-side analysts expect that Patterson Companies, Inc. will post 2.06 earnings per share for the current year.
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Patterson Companies Company Profile
Patterson Companies, Inc is a value-added distributor focused on providing a customer experience to professionals in the dental and animal health markets. The Company operates through three segments: dental, animal health and corporate. Dental and Animal health are strategic business units that offer similar products and services to different customer bases.
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