Squarepoint Ops LLC Acquires 122,511 Shares of Patterson Companies, Inc. (NASDAQ:PDCO)

Squarepoint Ops LLC raised its holdings in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 191.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 186,595 shares of the company’s stock after acquiring an additional 122,511 shares during the period. Squarepoint Ops LLC owned approximately 0.21% of Patterson Companies worth $4,501,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Illinois Municipal Retirement Fund bought a new stake in shares of Patterson Companies during the 1st quarter valued at $1,339,000. Sound Income Strategies LLC raised its position in shares of Patterson Companies by 10.3% during the 1st quarter. Sound Income Strategies LLC now owns 619,529 shares of the company’s stock valued at $17,130,000 after acquiring an additional 58,084 shares during the last quarter. UniSuper Management Pty Ltd bought a new stake in shares of Patterson Companies during the 1st quarter valued at $535,000. Russell Investments Group Ltd. increased its position in shares of Patterson Companies by 1,802.5% in the 1st quarter. Russell Investments Group Ltd. now owns 67,615 shares of the company’s stock valued at $1,870,000 after buying an additional 64,061 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its position in shares of Patterson Companies by 35.2% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 91,921 shares of the company’s stock valued at $2,540,000 after buying an additional 23,941 shares in the last quarter. Institutional investors own 85.43% of the company’s stock.

Insider Transactions at Patterson Companies

In other 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 transaction of $67,383.82. Following the completion of the transaction, the insider now directly owns 103,765 shares in the company, valued at approximately $2,460,268.15. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other 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 transaction of $67,383.82. Following the completion of the transaction, the insider now directly owns 103,765 shares in the company, valued at approximately $2,460,268.15. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Donald Zurbay sold 7,216 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $24.99, for a total transaction of $180,327.84. Following the completion of the sale, the chief executive officer now owns 230,072 shares of the company’s stock, valued at $5,749,499.28. The disclosure for this sale can be found here. Insiders 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.

Analyst Ratings Changes

PDCO has been the subject of a number of recent analyst reports. Bank of America lowered their price objective on shares of Patterson Companies from $31.00 to $29.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Morgan Stanley lowered their price objective on shares of Patterson Companies from $30.00 to $28.00 and set an “equal weight” rating for the company in a research report on Thursday, June 20th. Evercore ISI lowered their price objective on shares of Patterson Companies from $25.00 to $23.00 and set an “in-line” rating for the company in a research report on Thursday, August 29th. UBS Group lowered their price objective on shares of Patterson Companies from $27.00 to $24.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. Finally, Robert W. Baird lowered their price objective on shares of Patterson Companies from $30.00 to $28.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. Nine equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $28.40.

Patterson Companies Price Performance

PDCO stock opened at $21.84 on Tuesday. The stock has a 50-day moving average price of $23.42 and a two-hundred day moving average price of $24.58. The stock has a market cap of $1.92 billion, a PE ratio of 10.92, a price-to-earnings-growth ratio of 1.57 and a beta of 1.02. The company has a current ratio of 1.30, a quick ratio of 0.67 and a debt-to-equity ratio of 0.34. Patterson Companies, Inc. has a 1 year low of $19.96 and a 1 year high of $32.58.

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

Patterson Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, October 18th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.76%. Patterson Companies’s dividend payout ratio is 52.00%.

Patterson Companies Company Profile

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.