Patterson Companies, Inc. (PDCO) Stake Increased by Eqis Capital Management Inc.

Eqis Capital Management Inc. boosted its stake in Patterson Companies, Inc. (NASDAQ:PDCO) by 98.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,818 shares of the company’s stock after buying an additional 6,861 shares during the period. Eqis Capital Management Inc.’s holdings in Patterson Companies were worth $649,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Nomura Asset Management Co. Ltd. increased its position in shares of Patterson Companies by 0.7% in the first quarter. Nomura Asset Management Co. Ltd. now owns 10,520 shares of the company’s stock valued at $476,000 after buying an additional 70 shares in the last quarter. Meeder Asset Management Inc. increased its position in shares of Patterson Companies by 0.6% in the second quarter. Meeder Asset Management Inc. now owns 20,363 shares of the company’s stock valued at $956,000 after buying an additional 112 shares in the last quarter. LS Investment Advisors LLC increased its position in shares of Patterson Companies by 1.4% in the first quarter. LS Investment Advisors LLC now owns 9,631 shares of the company’s stock valued at $436,000 after buying an additional 134 shares in the last quarter. Teton Advisors Inc. increased its position in shares of Patterson Companies by 0.5% in the first quarter. Teton Advisors Inc. now owns 29,404 shares of the company’s stock valued at $1,330,000 after buying an additional 141 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. increased its position in shares of Patterson Companies by 2.3% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 8,810 shares of the company’s stock valued at $398,000 after buying an additional 200 shares in the last quarter. 90.01% of the stock is owned by institutional investors.

Patterson Companies, Inc. (NASDAQ:PDCO) opened at 43.02 on Thursday. The firm’s 50 day moving average is $45.95 and its 200 day moving average is $44.23. Patterson Companies, Inc. has a 12-month low of $36.46 and a 12-month high of $49.83. The company has a market cap of $4.04 billion, a P/E ratio of 24.03 and a beta of 0.98.

Patterson Companies (NASDAQ:PDCO) last released its earnings results on Thursday, May 25th. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.04. The business had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Patterson Companies had a net margin of 3.06% and a return on equity of 15.94%. The company’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.77 earnings per share. Equities research analysts anticipate that Patterson Companies, Inc. will post $2.32 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 28th. Stockholders of record on Friday, July 14th will be paid a dividend of $0.26 per share. The ex-dividend date is Wednesday, July 12th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.42%. Patterson Companies’s dividend payout ratio is currently 58.10%.

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Several research analysts recently weighed in on the stock. Credit Suisse Group reaffirmed an “outperform” rating and issued a $50.00 target price (up previously from $45.00) on shares of Patterson Companies in a report on Thursday, July 13th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $40.00 target price on shares of Patterson Companies in a report on Friday, May 5th. Zacks Investment Research raised shares of Patterson Companies from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a report on Tuesday, May 2nd. UBS AG downgraded shares of Patterson Companies from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $44.50 to $40.00 in a report on Tuesday, July 11th. Finally, BidaskClub downgraded shares of Patterson Companies from a “buy” rating to a “hold” rating in a report on Saturday, July 8th. Five analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. Patterson Companies has an average rating of “Hold” and a consensus price target of $43.78.

In related news, insider Ann B. Gugino sold 750 shares of the business’s stock in a transaction dated Tuesday, July 11th. The shares were sold at an average price of $42.40, for a total transaction of $31,800.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Scott P. Anderson sold 10,000 shares of the business’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $46.76, for a total transaction of $467,600.00. The disclosure for this sale can be found here. Insiders have sold 11,500 shares of company stock valued at $532,273 in the last three months. Corporate insiders own 0.46% of the company’s stock.

About Patterson Companies

Patterson Companies, Inc is a value-added distributor focused on providing a customer experience to professionals in the dental and animal health markets. The Company operates through three segments: dental, animal health and corporate. Dental and Animal health are strategic business units that offer similar products and services to different customer bases.

Institutional Ownership by Quarter for Patterson Companies (NASDAQ:PDCO)

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