Patterson Companies, Inc. (NASDAQ:PDCO) Stock Position Lowered by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL trimmed its position in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 1.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 512,399 shares of the company’s stock after selling 9,200 shares during the period. Gamco Investors INC. ET AL owned 0.57% of Patterson Companies worth $14,168,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. Westwood Holdings Group Inc. grew its stake in Patterson Companies by 3.6% during the 1st quarter. Westwood Holdings Group Inc. now owns 2,370,075 shares of the company’s stock valued at $65,533,000 after acquiring an additional 82,522 shares in the last quarter. Ariel Investments LLC grew its position in Patterson Companies by 7.0% during the first quarter. Ariel Investments LLC now owns 8,976 shares of the company’s stock valued at $248,000 after purchasing an additional 586 shares in the last quarter. EntryPoint Capital LLC acquired a new position in Patterson Companies in the 1st quarter valued at approximately $140,000. CANADA LIFE ASSURANCE Co lifted its position in Patterson Companies by 35.2% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 91,921 shares of the company’s stock worth $2,540,000 after buying an additional 23,941 shares in the last quarter. Finally, UniSuper Management Pty Ltd purchased a new position in shares of Patterson Companies during the 1st quarter valued at $535,000. 85.43% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Patterson Companies

In related news, insider Les B. Korsh sold 2,842 shares of the stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $23.71, for a total value of $67,383.82. Following the completion of the sale, the insider now owns 103,765 shares in the company, valued at $2,460,268.15. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Donald Zurbay sold 5,875 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $23.71, for a total transaction of $139,296.25. Following the completion of the transaction, the chief executive officer now directly owns 237,288 shares of the company’s stock, valued at approximately $5,626,098.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Les B. Korsh sold 2,842 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $23.71, for a total transaction of $67,383.82. Following the completion of the sale, the insider now directly owns 103,765 shares in the company, valued at approximately $2,460,268.15. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,149 shares of company stock worth $415,851. 1.50% of the stock is currently owned by company insiders.

Patterson Companies Stock Performance

Shares of Patterson Companies stock traded up $0.33 during trading on Friday, reaching $26.29. The company’s stock had a trading volume of 733,729 shares, compared to its average volume of 721,673. Patterson Companies, Inc. has a one year low of $22.29 and a one year high of $34.53. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.75 and a current ratio of 1.33. The firm has a market cap of $2.31 billion, a price-to-earnings ratio of 13.15, a price-to-earnings-growth ratio of 2.43 and a beta of 1.06. The business’s fifty day moving average price is $24.28 and its 200-day moving average price is $26.38.

Patterson Companies (NASDAQ:PDCO) last issued its quarterly earnings results on Tuesday, June 18th. The company reported $0.82 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.01). The business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.70 billion. Patterson Companies had a return on equity of 20.80% and a net margin of 2.83%. The business’s quarterly revenue was down .1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.84 earnings per share. As a group, equities research analysts predict that Patterson Companies, Inc. will post 2.36 earnings per share for the current year.

Patterson Companies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Friday, July 19th will be given a $0.26 dividend. The ex-dividend date of this dividend is Friday, July 19th. This represents a $1.04 annualized dividend and a yield of 3.96%. Patterson Companies’s dividend payout ratio is 52.00%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Bank of America cut their price objective on Patterson Companies from $34.00 to $32.00 and set a “buy” rating for the company in a report on Monday, May 20th. Evercore ISI lowered their price target on Patterson Companies from $27.00 to $25.00 and set an “in-line” rating for the company in a research note on Tuesday, July 9th. Morgan Stanley dropped their price objective on Patterson Companies from $30.00 to $28.00 and set an “equal weight” rating on the stock in a report on Thursday, June 20th. JPMorgan Chase & Co. cut their price target on shares of Patterson Companies from $30.00 to $29.00 and set a “neutral” rating on the stock in a report on Thursday, June 20th. Finally, StockNews.com cut shares of Patterson Companies from a “buy” rating to a “hold” rating in a report on Saturday, June 1st. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Patterson Companies currently has an average rating of “Hold” and an average target price of $30.00.

About Patterson Companies

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.