Stifel Financial Corp Grows Position in Patterson Companies, Inc. (PDCO)
Stifel Financial Corp lifted its stake in Patterson Companies, Inc. (NASDAQ:PDCO) by 3.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 44,467 shares of the company’s stock after buying an additional 1,571 shares during the period. Stifel Financial Corp’s holdings in Patterson Companies were worth $1,722,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PDCO. Thompson Siegel & Walmsley LLC lifted its stake in Patterson Companies by 152.8% during the third quarter. Thompson Siegel & Walmsley LLC now owns 885,174 shares of the company’s stock worth $34,212,000 after purchasing an additional 535,029 shares during the period. Van ECK Associates Corp lifted its stake in Patterson Companies by 114.1% during the third quarter. Van ECK Associates Corp now owns 880,341 shares of the company’s stock worth $34,025,000 after purchasing an additional 469,072 shares during the period. Shell Asset Management Co. lifted its stake in Patterson Companies by 2,700.1% during the third quarter. Shell Asset Management Co. now owns 253,859 shares of the company’s stock worth $10,517,000 after purchasing an additional 244,793 shares during the period. Heartland Advisors Inc. bought a new position in shares of Patterson Companies in the second quarter valued at approximately $10,398,000. Finally, Gotham Asset Management LLC bought a new position in shares of Patterson Companies in the second quarter valued at approximately $10,104,000. Institutional investors and hedge funds own 93.99% of the company’s stock.
Shares of Patterson Companies, Inc. (NASDAQ PDCO) opened at $36.25 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.94 and a debt-to-equity ratio of 0.73. The firm has a market cap of $3,460.00, a P/E ratio of 21.32, a P/E/G ratio of 2.08 and a beta of 0.95. Patterson Companies, Inc. has a fifty-two week low of $32.07 and a fifty-two week high of $48.29.
Patterson Companies (NASDAQ:PDCO) last issued 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). The company had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.42 billion. Patterson Companies had a net margin of 2.84% and a return on equity of 15.19%. The business’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.56 EPS. research analysts expect that Patterson Companies, Inc. will post 2.06 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 26th. Investors of record on Friday, January 12th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date is Thursday, January 11th. Patterson Companies’s dividend payout ratio is currently 61.18%.
In other Patterson Companies news, CFO Ann B. Gugino sold 750 shares of Patterson Companies stock in a transaction on Wednesday, October 11th. The shares were sold at an average price of $36.73, for a total transaction of $27,547.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John D. Buck bought 2,834 shares of the stock in a transaction on Friday, November 24th. The shares were acquired at an average cost of $34.93 per share, with a total value of $98,991.62. Following the acquisition, the director now directly owns 54,627 shares in the company, valued at approximately $1,908,121.11. The disclosure for this purchase can be found here. Company insiders own 0.46% of the company’s stock.
A number of research firms have recently issued reports on PDCO. Robert W. Baird reiterated a “buy” rating and issued a $44.00 target price on shares of Patterson Companies in a research note on Tuesday, September 26th. Morgan Stanley began coverage on shares of Patterson Companies in a research note on Thursday, September 21st. They issued an “equal weight” rating and a $42.00 target price for the company. Royal Bank of Canada began coverage on shares of Patterson Companies in a research note on Tuesday, September 19th. They issued a “sector perform” rating and a $42.00 target price for the company. BidaskClub cut shares of Patterson Companies from a “hold” rating to a “sell” rating in a research note on Thursday, December 7th. Finally, Deutsche Bank began coverage on shares of Patterson Companies in a research note on Friday, December 8th. They issued a “hold” rating and a $37.00 target price for the company. Four analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $40.40.
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Patterson Companies 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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