Patterson Companies, Inc. (PDCO) Shares Bought by Trexquant Investment LP
Trexquant Investment LP grew its stake in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 333.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 170,455 shares of the company’s stock after purchasing an additional 131,154 shares during the period. Trexquant Investment LP owned approximately 0.18% of Patterson Companies worth $3,864,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of PDCO. BlackRock Inc. boosted its position in shares of Patterson Companies by 33.9% during the 1st quarter. BlackRock Inc. now owns 6,856,469 shares of the company’s stock worth $152,419,000 after purchasing an additional 1,734,138 shares in the last quarter. Alps Advisors Inc. acquired a new position in shares of Patterson Companies during the 2nd quarter worth $48,813,000. Thompson Siegel & Walmsley LLC raised its stake in shares of Patterson Companies by 90.5% during the 1st quarter. Thompson Siegel & Walmsley LLC now owns 1,934,238 shares of the company’s stock worth $42,998,000 after buying an additional 918,887 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Patterson Companies by 187.9% during the 2nd quarter. First Trust Advisors LP now owns 1,295,766 shares of the company’s stock worth $29,375,000 after buying an additional 845,635 shares during the last quarter. Finally, Cove Street Capital LLC acquired a new position in shares of Patterson Companies during the 1st quarter worth $13,671,000. Institutional investors own 88.76% of the company’s stock.
Several research firms have recently issued reports on PDCO. ValuEngine downgraded Patterson Companies from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 2nd. Northcoast Research reaffirmed a “buy” rating on shares of Patterson Companies in a research note on Wednesday, May 16th. Evercore ISI cut their price target on Patterson Companies from $20.00 to $18.50 and set an “underperform” rating for the company in a research note on Thursday, June 21st. Leerink Swann began coverage on Patterson Companies in a research note on Friday, August 10th. They set a “market perform” rating and a $25.00 price target for the company. Finally, JPMorgan Chase & Co. cut their price target on Patterson Companies from $26.00 to $24.00 and set an “underweight” rating for the company in a research note on Thursday, June 7th. Seven research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $30.22.
Patterson Companies (NASDAQ:PDCO) last announced its earnings results on Thursday, June 21st. The company reported $0.30 earnings per share for the quarter, meeting the consensus estimate of $0.30. Patterson Companies had a net margin of 3.68% and a return on equity of 11.05%. The firm had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the previous year, the company posted $0.69 EPS. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. analysts expect that Patterson Companies, Inc. will post 1.74 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 27th. Investors of record on Friday, July 13th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 4.50%. The ex-dividend date was Thursday, July 12th. Patterson Companies’s payout ratio is 61.90%.
Patterson Companies Company Profile
Patterson Companies, Inc distributes and sells dental and animal health products in the United States, the United Kingdom, and Canada. It operates through Dental and Animal Health segments. The company's Dental segment offers consumable products, such as infection control, restorative materials, hand instruments, and sterilization products; basic and advanced technology dental equipment; patient education systems; and office forms and stationery.
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