Federated Investors Inc. PA Has $367,000 Stake in Patterson Companies, Inc. (PDCO)

Federated Investors Inc. PA lowered its holdings in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 54.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 16,208 shares of the company’s stock after selling 19,710 shares during the period. Federated Investors Inc. PA’s holdings in Patterson Companies were worth $367,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. raised its stake in shares of Patterson Companies by 31.3% during the second quarter. BlackRock Inc. now owns 9,003,165 shares of the company’s stock valued at $204,103,000 after acquiring an additional 2,146,696 shares during the last quarter. FMR LLC raised its stake in shares of Patterson Companies by 100.5% during the second quarter. FMR LLC now owns 4,692,969 shares of the company’s stock valued at $106,389,000 after acquiring an additional 2,352,041 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Patterson Companies by 4.7% during the second quarter. Bank of New York Mellon Corp now owns 2,773,689 shares of the company’s stock valued at $62,879,000 after acquiring an additional 124,738 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Patterson Companies by 14.3% during the first quarter. Dimensional Fund Advisors LP now owns 1,687,216 shares of the company’s stock valued at $37,507,000 after acquiring an additional 211,678 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of Patterson Companies by 5.1% during the first quarter. Wells Fargo & Company MN now owns 1,355,814 shares of the company’s stock valued at $30,139,000 after acquiring an additional 66,346 shares during the last quarter. 90.51% of the stock is owned by hedge funds and other institutional investors.

PDCO opened at $24.56 on Wednesday. Patterson Companies, Inc. has a twelve month low of $20.22 and a twelve month high of $40.36. The company has a quick ratio of 0.87, a current ratio of 1.79 and a debt-to-equity ratio of 0.51. The firm has a market cap of $2.43 billion, a PE ratio of 14.62, a PEG ratio of 2.47 and a beta of 1.08.

Patterson Companies (NASDAQ:PDCO) last posted its quarterly earnings data on Thursday, August 30th. The company reported $0.26 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.08). The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.30 billion. Patterson Companies had a return on equity of 9.71% and a net margin of 3.01%. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.44 earnings per share. research analysts anticipate that Patterson Companies, Inc. will post 1.43 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 26th. Shareholders of record on Friday, October 12th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date of this dividend is Thursday, October 11th. Patterson Companies’s payout ratio is 61.90%.

Several equities research analysts have recently weighed in on PDCO shares. Bank of America decreased their price objective on shares of Patterson Companies from $22.00 to $20.00 and set an “underperform” rating for the company in a research report on Tuesday, May 29th. Zacks Investment Research upgraded shares of Patterson Companies from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research report on Wednesday, August 22nd. ValuEngine upgraded shares of Patterson Companies from a “sell” rating to a “hold” rating in a research report on Saturday. Stifel Nicolaus decreased their price objective on shares of Patterson Companies from $28.00 to $23.00 and set a “hold” rating for the company in a research report on Monday, June 18th. Finally, Leerink Swann started coverage on shares of Patterson Companies in a research report on Friday, August 10th. They set a “market perform” rating and a $25.00 price objective for the company. Six research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $26.19.

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.

See Also: Leveraged Buyout (LBO)

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

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