EntryPoint Capital LLC Takes Position in Patterson Companies, Inc. (NASDAQ:PDCO)

EntryPoint Capital LLC acquired a new stake in shares of Patterson Companies, Inc. (NASDAQ:PDCO) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 5,059 shares of the company’s stock, valued at approximately $140,000.

Other hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC acquired a new position in shares of Patterson Companies during the fourth quarter valued at about $32,000. Spire Wealth Management bought a new position in shares of Patterson Companies during the first quarter valued at about $35,000. Signaturefd LLC lifted its position in shares of Patterson Companies by 93.5% during the fourth quarter. Signaturefd LLC now owns 2,107 shares of the company’s stock valued at $60,000 after purchasing an additional 1,018 shares in the last quarter. Verity & Verity LLC bought a new position in shares of Patterson Companies during the first quarter valued at about $69,000. Finally, Headlands Technologies LLC bought a new position in shares of Patterson Companies during the fourth quarter valued at about $92,000. 85.43% of the stock is currently owned by institutional investors and hedge funds.

Patterson Companies Stock Performance

PDCO traded up $0.39 during midday trading on Friday, reaching $26.35. The company had a trading volume of 201,244 shares, compared to its average volume of 991,004. 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 stock has a market cap of $2.31 billion, a PE ratio of 13.15, a P/E/G ratio of 2.36 and a beta of 1.06. Patterson Companies, Inc. has a 12-month low of $22.29 and a 12-month high of $34.53. The business has a 50-day moving average price of $24.27 and a two-hundred day moving average price of $26.40.

Patterson Companies (NASDAQ:PDCO) last announced its quarterly earnings results on Tuesday, June 18th. The company reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.01). The business had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.70 billion. Patterson Companies had a net margin of 2.83% and a return on equity of 20.80%. The business’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.84 earnings per share. On average, sell-side analysts expect that Patterson Companies, Inc. will post 2.36 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, August 2nd. Investors of record on Friday, July 19th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date is Friday, July 19th. Patterson Companies’s payout ratio is currently 52.00%.

Analysts Set New Price Targets

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

Insider Activity at Patterson Companies

In related news, CEO Donald Zurbay sold 5,875 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $23.71, for a total transaction of $139,296.25. Following the sale, the chief executive officer now directly owns 237,288 shares in the company, valued at approximately $5,626,098.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Donald Zurbay sold 5,875 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $23.71, for a total transaction of $139,296.25. Following the sale, the chief executive officer now 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 accessible through this hyperlink. Also, CFO Kevin Michael Barry sold 1,216 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $23.72, for a total transaction of $28,843.52. Following the sale, the chief financial officer now directly owns 41,605 shares in the company, valued at approximately $986,870.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,149 shares of company stock worth $415,851. 1.50% of the stock is owned by corporate insiders.

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.