Dimensional Fund Advisors LP Sells 153,028 Shares of Patterson Companies, Inc. (NASDAQ:PDCO)


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Dimensional Fund Advisors LP trimmed its holdings in Patterson Companies, Inc. (NASDAQ:PDCO) by 3.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,562,310 shares of the company’s stock after selling 153,028 shares during the period. Dimensional Fund Advisors LP owned 4.73% of Patterson Companies worth $135,185,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. California Public Employees Retirement System increased its stake in Patterson Companies by 4.7% during the 4th quarter. California Public Employees Retirement System now owns 203,894 shares of the company’s stock worth $6,041,000 after acquiring an additional 9,140 shares during the period. Contravisory Investment Management Inc. acquired a new stake in Patterson Companies during the fourth quarter worth about $166,000. Aperio Group LLC increased its holdings in Patterson Companies by 44.7% in the 4th quarter. Aperio Group LLC now owns 56,457 shares of the company’s stock valued at $1,673,000 after buying an additional 17,452 shares during the period. Mission Wealth Management LP raised its position in shares of Patterson Companies by 59.2% in the 4th quarter. Mission Wealth Management LP now owns 19,461 shares of the company’s stock valued at $577,000 after buying an additional 7,234 shares in the last quarter. Finally, Van ECK Associates Corp lifted its holdings in shares of Patterson Companies by 1.5% during the 3rd quarter. Van ECK Associates Corp now owns 63,004 shares of the company’s stock worth $1,519,000 after acquiring an additional 950 shares during the period. Institutional investors and hedge funds own 86.52% of the company’s stock.

Separately, Zacks Investment Research downgraded shares of Patterson Companies from a “buy” rating to a “sell” rating and set a $33.00 price objective for the company. in a research report on Tuesday, February 2nd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $26.43.

PDCO stock opened at $31.68 on Thursday. The stock has a market cap of $3.06 billion, a price-to-earnings ratio of -5.88, a P/E/G ratio of 1.55 and a beta of 1.63. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.54 and a quick ratio of 0.83. The company has a 50 day simple moving average of $31.75 and a 200 day simple moving average of $29.81. Patterson Companies, Inc. has a 1 year low of $13.80 and a 1 year high of $36.88.

Patterson Companies (NASDAQ:PDCO) last posted its earnings results on Tuesday, March 2nd. The company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.07. Patterson Companies had a negative net margin of 9.15% and a positive return on equity of 17.57%. The firm had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter in the previous year, the firm posted $0.47 earnings per share. The company’s revenue was up 6.6% on a year-over-year basis. On average, equities research analysts anticipate that Patterson Companies, Inc. will post 1.94 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, April 30th. Shareholders of record on Friday, April 16th will be given a $0.26 dividend. The ex-dividend date is Thursday, April 15th. This represents a $1.04 annualized dividend and a yield of 3.28%. Patterson Companies’s dividend payout ratio is presently 67.10%.

In related news, CFO Donald Zurbay sold 6,817 shares of the firm’s stock in a transaction that occurred on Friday, March 5th. The shares were sold at an average price of $30.10, for a total value of $205,191.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jody H. Feragen sold 10,052 shares of the firm’s stock in a transaction that occurred on Wednesday, January 13th. The shares were sold at an average price of $32.83, for a total transaction of $330,007.16. Following the completion of the transaction, the director now owns 44,531 shares of the company’s stock, valued at approximately $1,461,952.73. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

About Patterson Companies

Patterson Companies, Inc distributes and sells dental and animal health products in the United States, the United Kingdom, and Canada. It operates through three segments; Dental, Animal Health, and Corporate segments. The Dental segment offers consumable products, including infection control, restorative materials, hand instruments, and sterilization products; basic and advanced technology dental equipment; technology solutions, such as practice management software and e-commerce solutions; patient education systems; and office forms and stationery.

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Institutional Ownership by Quarter for Patterson Companies (NASDAQ:PDCO)

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