Neo Ivy Capital Management Makes New Investment in Patterson Companies, Inc. (NASDAQ:PDCO)

Neo Ivy Capital Management acquired a new stake in Patterson Companies, Inc. (NASDAQ:PDCO) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 73,684 shares of the company’s stock, valued at approximately $1,777,000. Neo Ivy Capital Management owned about 0.08% of Patterson Companies at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Strs Ohio raised its position in Patterson Companies by 1.4% during the fourth quarter. Strs Ohio now owns 35,300 shares of the company’s stock valued at $1,004,000 after acquiring an additional 500 shares in the last quarter. Amalgamated Bank lifted its stake in shares of Patterson Companies by 1.0% in the 4th quarter. Amalgamated Bank now owns 49,989 shares of the company’s stock valued at $1,422,000 after purchasing an additional 503 shares during the period. Ariel Investments LLC boosted its holdings in Patterson Companies by 7.0% during the first quarter. Ariel Investments LLC now owns 8,976 shares of the company’s stock worth $248,000 after buying an additional 586 shares in the last quarter. US Bancorp DE grew its position 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 buying an additional 610 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in Patterson Companies by 1.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 39,075 shares of the company’s stock valued at $1,112,000 after buying an additional 702 shares during the period. 85.43% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Patterson Companies

In related news, 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 directly owns 230,072 shares in the company, valued at $5,749,499.28. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Donald Zurbay sold 7,216 shares of the company’s stock in a transaction that occurred 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 $5,749,499.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Les B. Korsh sold 2,842 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $23.71, for a total value of $67,383.82. Following the sale, the insider now directly owns 103,765 shares of the company’s stock, valued at approximately $2,460,268.15. 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 quarter. Company insiders own 1.50% of the company’s stock.

Patterson Companies Price Performance

Shares of PDCO traded down $0.29 during trading hours on Tuesday, hitting $24.46. 74,867 shares of the stock were exchanged, compared to its average volume of 960,505. The stock’s 50-day moving average price is $24.45 and its two-hundred day moving average price is $25.74. 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 company has a market cap of $2.16 billion, a price-to-earnings ratio of 12.38, a price-to-earnings-growth ratio of 2.28 and a beta of 1.06. Patterson Companies, Inc. has a 12-month low of $22.29 and a 12-month high of $34.51.

Patterson Companies (NASDAQ:PDCO) last released its earnings results on Tuesday, June 18th. The company reported $0.82 earnings per share (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 return on equity of 20.80% and a net margin of 2.83%. Patterson Companies’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.84 EPS. Research analysts expect that Patterson Companies, Inc. will post 2.36 earnings per share for the current year.

Patterson Companies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 2nd. Shareholders of record on Friday, July 19th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date of this dividend was Friday, July 19th. Patterson Companies’s dividend payout ratio (DPR) is presently 52.00%.

Analyst Ratings Changes

PDCO has been the topic of several recent analyst reports. StockNews.com lowered shares of Patterson Companies from a “buy” rating to a “hold” rating in a research note on Saturday, June 1st. Bank of America dropped their price objective on Patterson Companies from $34.00 to $32.00 and set a “buy” rating on the stock in a report on Monday, May 20th. Morgan Stanley cut their price objective on 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. JPMorgan Chase & Co. decreased their target price on Patterson Companies from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Thursday, June 20th. Finally, Evercore ISI cut their price target on shares of Patterson Companies from $27.00 to $25.00 and set an “in-line” rating for the company in a report on Tuesday, July 9th. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Patterson Companies has an average rating of “Hold” and a consensus target price of $30.00.

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.