Les B. Korsh Sells 2,842 Shares of Patterson Companies, Inc. (NASDAQ:PDCO) Stock

Patterson Companies, Inc. (NASDAQ:PDCO) insider Les B. Korsh sold 2,842 shares of Patterson Companies stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $23.71, for a total value of $67,383.82. Following the completion of the transaction, the insider now owns 103,765 shares of the company’s stock, valued at approximately $2,460,268.15. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Patterson Companies Stock Down 0.7 %

PDCO opened at $23.13 on Thursday. Patterson Companies, Inc. has a 52 week low of $22.29 and a 52 week high of $34.53. The business has a 50 day moving average price of $24.44 and a two-hundred day moving average price of $26.67. The company has a quick ratio of 0.75, a current ratio of 1.33 and a debt-to-equity ratio of 0.33. The company has a market cap of $2.03 billion, a PE ratio of 11.57, a P/E/G ratio of 2.23 and a beta of 1.06.

Patterson Companies (NASDAQ:PDCO) last issued its quarterly earnings results on Tuesday, June 18th. The company reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.01). The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.70 billion. Patterson Companies had a return on equity of 20.80% and a net margin of 2.83%. Patterson Companies’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.84 earnings per share. As a group, research analysts anticipate that Patterson Companies, Inc. will post 2.37 EPS for the current year.

Patterson Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Friday, July 19th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 4.50%. The ex-dividend date of this dividend is Friday, July 19th. Patterson Companies’s dividend payout ratio is presently 52.00%.

Institutional Trading of Patterson Companies

Several hedge funds have recently modified their holdings of PDCO. HBK Sorce Advisory LLC grew its holdings in Patterson Companies by 4.8% during the fourth quarter. HBK Sorce Advisory LLC now owns 7,432 shares of the company’s stock worth $211,000 after acquiring an additional 341 shares during the period. Strs Ohio boosted its position in shares of Patterson Companies by 1.4% during the 4th quarter. Strs Ohio now owns 35,300 shares of the company’s stock worth $1,004,000 after purchasing an additional 500 shares in the last quarter. Amalgamated Bank increased its holdings 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 in the last quarter. Ariel Investments LLC lifted its stake in shares of Patterson Companies by 7.0% in the first quarter. Ariel Investments LLC now owns 8,976 shares of the company’s stock valued at $248,000 after purchasing an additional 586 shares during the period. Finally, US Bancorp DE boosted its stake in shares of Patterson Companies by 2.1% during the 4th quarter. US Bancorp DE now owns 29,863 shares of the company’s stock worth $850,000 after acquiring an additional 610 shares in the last quarter. 85.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PDCO has been the topic of a number of recent analyst reports. Evercore ISI dropped their price objective 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. Bank of America lowered their price objective on Patterson Companies from $34.00 to $32.00 and set a “buy” rating for the company in a research report on Monday, May 20th. JPMorgan Chase & Co. cut 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. StockNews.com downgraded Patterson Companies from a “buy” rating to a “hold” rating in a report on Saturday, June 1st. Finally, Morgan Stanley reduced 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. Seven 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 currently has an average rating of “Hold” and an average price target 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.