SG Americas Securities LLC Acquires 16,045 Shares of Patterson Companies, Inc. (NASDAQ:PDCO)

SG Americas Securities LLC raised its stake in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 104.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,465 shares of the company’s stock after buying an additional 16,045 shares during the period. SG Americas Securities LLC’s holdings in Patterson Companies were worth $687,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in PDCO. LRI Investments LLC increased its holdings in shares of Patterson Companies by 201.2% during the 2nd quarter. LRI Investments LLC now owns 1,262 shares of the company’s stock valued at $30,000 after acquiring an additional 843 shares during the last quarter. Mather Group LLC. grew its holdings in Patterson Companies by 1,376.1% during the second quarter. Mather Group LLC. now owns 1,609 shares of the company’s stock valued at $39,000 after purchasing an additional 1,500 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in shares of Patterson Companies in the second quarter valued at approximately $41,000. Family Firm Inc. acquired a new stake in shares of Patterson Companies in the second quarter worth $45,000. Finally, Meeder Asset Management Inc. bought a new stake in shares of Patterson Companies during the 2nd quarter worth $45,000. Institutional investors and hedge funds own 85.43% of the company’s stock.

Insider Buying and Selling

In other Patterson Companies news, 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 sale, the chief executive officer now directly owns 230,072 shares in the company, valued at $5,749,499.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

PDCO has been the topic of several recent analyst reports. JPMorgan Chase & Co. dropped their target price on shares of Patterson Companies from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. Evercore ISI cut their price objective on Patterson Companies from $23.00 to $22.00 and set an “in-line” rating for the company in a research report on Tuesday, October 8th. Bank of America lowered their target price on Patterson Companies from $31.00 to $29.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Morgan Stanley cut their price target on Patterson Companies from $30.00 to $28.00 and set an “equal weight” rating for the company in a report on Thursday, June 20th. Finally, Robert W. Baird lowered their price objective on shares of 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 investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $28.30.

Patterson Companies Stock Up 2.4 %

PDCO opened at $20.64 on Monday. The company has a market capitalization of $1.81 billion, a P/E ratio of 10.32, a P/E/G ratio of 1.46 and a beta of 1.02. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 0.67. The firm’s fifty day moving average price is $22.43 and its two-hundred day moving average price is $24.12. Patterson Companies, Inc. has a fifty-two week low of $19.89 and a fifty-two week high of $32.58.

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

Patterson Companies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Wednesday, October 16th will be issued a $0.26 dividend. The ex-dividend date is Friday, October 18th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 5.04%. Patterson Companies’s payout ratio is presently 52.00%.

Patterson Companies 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.