Texas Permanent School Fund Corp Has $1.49 Million Stock Holdings in Patterson Companies, Inc. (NASDAQ:PDCO)

Texas Permanent School Fund Corp lessened its holdings in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 14.5% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 61,725 shares of the company’s stock after selling 10,450 shares during the period. Texas Permanent School Fund Corp’s holdings in Patterson Companies were worth $1,489,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Charles Schwab Investment Management Inc. increased its stake in Patterson Companies by 2.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 796,640 shares of the company’s stock valued at $22,664,000 after acquiring an additional 16,007 shares during the period. Vanguard Personalized Indexing Management LLC increased its stake in Patterson Companies by 10.1% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 12,721 shares of the company’s stock valued at $362,000 after acquiring an additional 1,168 shares during the period. Norges Bank bought a new position in Patterson Companies during the fourth quarter valued at about $26,162,000. Ontario Teachers Pension Plan Board bought a new position in Patterson Companies during the fourth quarter valued at about $218,000. Finally, US Bancorp DE increased its stake in Patterson Companies by 2.1% during the fourth quarter. US Bancorp DE now owns 29,863 shares of the company’s stock valued at $850,000 after acquiring an additional 610 shares during the period. Institutional investors and hedge funds own 85.43% of the company’s stock.

Insider Buying and Selling

In related news, insider Les B. Korsh sold 2,842 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $23.71, for a total transaction of $67,383.82. Following the sale, the insider now directly owns 103,765 shares in the company, valued at approximately $2,460,268.15. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Patterson Companies news, insider Les B. Korsh sold 2,842 shares of the company’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $23.71, for a total transaction of $67,383.82. Following the transaction, the insider now owns 103,765 shares of the company’s stock, valued at approximately $2,460,268.15. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Donald Zurbay sold 7,216 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $24.99, for a total value of $180,327.84. Following the transaction, the chief executive officer now directly owns 230,072 shares in the company, valued at approximately $5,749,499.28. The disclosure for this sale can be found here. Insiders have sold a total of 17,149 shares of company stock worth $415,851 in the last three months. Insiders own 1.50% of the company’s stock.

Patterson Companies Stock Up 1.4 %

NASDAQ PDCO opened at $22.26 on Friday. The firm has a market cap of $1.95 billion, a PE ratio of 11.13, a price-to-earnings-growth ratio of 1.53 and a beta of 1.02. Patterson Companies, Inc. has a one year low of $19.96 and a one year high of $32.58. The stock’s 50 day simple moving average is $23.87 and its 200 day simple moving average is $24.84. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 0.67.

Patterson Companies (NASDAQ:PDCO) last released its quarterly earnings results on Wednesday, August 28th. The company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.08). The business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.59 billion. Patterson Companies had a return on equity of 19.87% and a net margin of 2.58%. The firm’s revenue was down 2.3% on a year-over-year basis. During the same quarter last year, the company earned $0.40 earnings per share. As a group, sell-side analysts forecast that Patterson Companies, Inc. will post 2.33 earnings per share for the current fiscal year.

Patterson Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 18th will be given a dividend of $0.26 per share. The ex-dividend date is Friday, October 18th. This represents a $1.04 dividend on an annualized basis and a yield of 4.67%. Patterson Companies’s dividend payout ratio (DPR) is presently 52.00%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PDCO. JPMorgan Chase & Co. lowered their price target on Patterson Companies from $29.00 to $26.00 and set a “neutral” rating on the stock in a research note on Thursday, August 29th. Morgan Stanley lowered their price objective on Patterson Companies from $30.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Thursday, June 20th. StockNews.com lowered Patterson Companies from a “buy” rating to a “hold” rating in a research note on Saturday, June 1st. Evercore ISI lowered their price objective on Patterson Companies from $25.00 to $23.00 and set an “in-line” rating on the stock in a research note on Thursday, August 29th. Finally, Robert W. Baird lowered their price objective on Patterson Companies from $30.00 to $28.00 and set a “neutral” rating on the stock in a research note on Thursday, August 29th. Nine research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $28.40.

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.