Van ECK Associates Corp Has $1.57 Million Position in Patterson Companies, Inc. (NASDAQ:PDCO)

Van ECK Associates Corp raised its holdings in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 1.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,132 shares of the company’s stock after purchasing an additional 1,178 shares during the quarter. Van ECK Associates Corp owned 0.07% of Patterson Companies worth $1,571,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of PDCO. LRI Investments LLC lifted its holdings in shares of Patterson Companies by 201.2% in the second quarter. LRI Investments LLC now owns 1,262 shares of the company’s stock valued at $30,000 after purchasing an additional 843 shares in the last quarter. Spire Wealth Management bought a new position in Patterson Companies during the 1st quarter valued at $35,000. Mather Group LLC. boosted its holdings in Patterson Companies by 1,376.1% during the 2nd quarter. Mather Group LLC. now owns 1,609 shares of the company’s stock worth $39,000 after acquiring an additional 1,500 shares during the last quarter. Family Firm Inc. bought a new stake in shares of Patterson Companies in the 2nd quarter worth $45,000. Finally, Innealta Capital LLC bought a new stake in shares of Patterson Companies in the 2nd quarter worth $66,000. Institutional investors and hedge funds own 85.43% of the company’s stock.

Insider Buying and Selling at Patterson Companies

In other news, CEO Donald Zurbay sold 7,216 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $24.99, for a total value of $180,327.84. Following the sale, the chief executive officer now directly owns 230,072 shares of the company’s stock, valued at $5,749,499.28. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Les B. Korsh sold 2,842 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $23.71, for a total transaction of $67,383.82. Following the completion of the transaction, the insider now directly owns 103,765 shares in the company, valued at $2,460,268.15. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Donald Zurbay sold 7,216 shares of the company’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $24.99, for a total value of $180,327.84. Following the completion of the transaction, the chief executive officer now owns 230,072 shares in the company, valued at $5,749,499.28. The disclosure for this sale can be found here. Insiders sold 17,149 shares of company stock valued at $415,851 in the last quarter. 1.50% of the stock is currently owned by corporate insiders.

Patterson Companies Trading Down 1.8 %

Shares of Patterson Companies stock opened at $20.70 on Friday. The stock has a market capitalization of $1.82 billion, a P/E ratio of 10.35, a P/E/G ratio of 1.63 and a beta of 1.02. Patterson Companies, Inc. has a 52-week low of $20.69 and a 52-week high of $32.58. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.67 and a current ratio of 1.30. The stock’s 50-day simple moving average is $24.29 and its 200 day simple moving average is $25.23.

Patterson Companies (NASDAQ:PDCO) last posted its quarterly earnings results on Wednesday, August 28th. The company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.08). The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.59 billion. Patterson Companies had a net margin of 2.58% and a return on equity of 19.87%. The business’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same period last year, the firm earned $0.40 EPS. As a group, research analysts anticipate that Patterson Companies, Inc. will post 2.33 EPS 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. The ex-dividend date was Friday, July 19th. This represents a $1.04 annualized dividend and a yield of 5.02%. Patterson Companies’s dividend payout ratio is currently 52.00%.

Wall Street Analyst Weigh In

PDCO has been the topic of several analyst reports. StockNews.com cut shares of Patterson Companies from a “buy” rating to a “hold” rating in a report on Saturday, June 1st. JPMorgan Chase & Co. cut their target price on Patterson Companies from $29.00 to $26.00 and set a “neutral” rating on the stock in a research note on Thursday, August 29th. Evercore ISI decreased their price target on Patterson Companies from $25.00 to $23.00 and set an “in-line” rating for the company in a research report on Thursday, August 29th. Robert W. Baird cut their price objective on Patterson Companies from $30.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. Finally, Morgan Stanley reduced their price objective on Patterson Companies from $30.00 to $28.00 and set an “equal weight” rating for the company in a research note on Thursday, June 20th. Nine research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $28.40.

About Patterson Companies

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.