Municipal Employees Retirement System of Michigan Has $816,000 Stake in Patterson Companies, Inc. (PDCO)
Municipal Employees Retirement System of Michigan held its position in Patterson Companies, Inc. (NASDAQ:PDCO) during the first quarter, Holdings Channel reports. The fund owned 18,040 shares of the company’s stock at the end of the first quarter. Municipal Employees Retirement System of Michigan’s holdings in Patterson Companies were worth $816,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Washington Capital Management Inc. acquired a new position in Patterson Companies during the first quarter valued at $285,000. Cadence Capital Management LLC acquired a new position in Patterson Companies during the first quarter valued at $475,000. Cibc World Markets Corp raised its position in Patterson Companies by 51.1% in the first quarter. Cibc World Markets Corp now owns 8,597 shares of the company’s stock valued at $389,000 after buying an additional 2,908 shares during the last quarter. Kwmg LLC acquired a new position in Patterson Companies during the first quarter valued at $241,000. Finally, American International Group Inc. raised its position in Patterson Companies by 38.7% in the first quarter. American International Group Inc. now owns 41,967 shares of the company’s stock valued at $1,898,000 after buying an additional 11,699 shares during the last quarter. 89.69% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Patterson Companies, Inc. (NASDAQ PDCO) traded up 0.11% on Friday, reaching $46.88. The company’s stock had a trading volume of 1,044,835 shares. The company’s 50 day moving average is $44.79 and its 200-day moving average is $43.33. Patterson Companies, Inc. has a 1-year low of $36.46 and a 1-year high of $50.10. The stock has a market cap of $4.40 billion, a PE ratio of 26.19 and a beta of 0.98.
Patterson Companies (NASDAQ:PDCO) last released its earnings results on Thursday, May 25th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.04. The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.46 billion. Patterson Companies had a return on equity of 15.94% and a net margin of 3.06%. Patterson Companies’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.77 earnings per share. On average, equities analysts predict that Patterson Companies, Inc. will post $2.32 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 28th. Investors of record on Friday, July 14th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend is Wednesday, July 12th. Patterson Companies’s dividend payout ratio is currently 58.10%.
Several research firms recently weighed in on PDCO. BidaskClub raised Patterson Companies from a “hold” rating to a “buy” rating in a research report on Thursday. Zacks Investment Research raised Patterson Companies from a “sell” rating to a “hold” rating in a research report on Wednesday, May 31st. Jefferies Group LLC reaffirmed a “hold” rating and issued a $40.00 target price on shares of Patterson Companies in a research report on Monday, May 15th. Craig Hallum started coverage on Patterson Companies in a research report on Tuesday, April 11th. They issued a “hold” rating on the stock. Finally, Deutsche Bank AG started coverage on Patterson Companies in a research report on Wednesday, March 15th. They issued a “hold” rating and a $45.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $43.63.
In related news, insider Ann B. Gugino sold 750 shares of Patterson Companies stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $43.83, for a total value of $32,872.50. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Scott P. Anderson sold 10,000 shares of Patterson Companies stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $46.76, for a total value of $467,600.00. The disclosure for this sale can be found here. 0.46% of the stock is currently owned by insiders.
Patterson Companies Company Profile
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.
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