XTX Topco Ltd Buys New Holdings in Patterson Companies, Inc. (NASDAQ:PDCO)

XTX Topco Ltd bought a new stake in Patterson Companies, Inc. (NASDAQ:PDCO) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 44,724 shares of the company’s stock, valued at approximately $1,079,000. XTX Topco Ltd owned about 0.05% of Patterson Companies as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. LRI Investments LLC lifted its holdings in 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 acquiring an additional 843 shares during the period. Mather Group LLC. lifted its holdings in Patterson Companies by 1,376.1% in the second quarter. Mather Group LLC. now owns 1,609 shares of the company’s stock valued at $39,000 after acquiring an additional 1,500 shares during the period. Family Firm Inc. acquired a new position in Patterson Companies in the second quarter valued at approximately $45,000. Meeder Asset Management Inc. acquired a new position in Patterson Companies in the second quarter valued at approximately $45,000. Finally, Innealta Capital LLC acquired a new position in Patterson Companies in the second quarter valued at approximately $66,000. Hedge funds and other institutional investors own 85.43% of the company’s stock.

Insider Activity at Patterson Companies

In other Patterson Companies news, CFO Kevin Michael Barry sold 1,216 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $23.72, for a total value of $28,843.52. Following the transaction, the chief financial officer now directly owns 41,605 shares in the company, valued at approximately $986,870.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Patterson Companies news, CFO Kevin Michael Barry sold 1,216 shares of Patterson Companies stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $23.72, for a total value of $28,843.52. Following the sale, the chief financial officer now owns 41,605 shares in the company, valued at $986,870.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Les B. Korsh sold 2,842 shares of the company’s stock in a transaction on 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 directly owns 103,765 shares in the company, valued at approximately $2,460,268.15. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,149 shares of company stock valued at $415,851. 1.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

PDCO has been the subject of a number of analyst reports. StockNews.com downgraded Patterson Companies from a “buy” rating to a “hold” rating in a report on Saturday, June 1st. Robert W. Baird reduced their target price on Patterson Companies from $30.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th. Evercore ISI reduced their target price on Patterson Companies from $25.00 to $23.00 and set an “in-line” rating for the company in a research note on Thursday, August 29th. UBS Group reduced their target price on Patterson Companies from $27.00 to $24.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. Finally, Bank of America reduced their target price on Patterson Companies from $31.00 to $29.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Nine analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $28.40.

Patterson Companies Stock Down 3.0 %

PDCO stock opened at $21.59 on Friday. The company has a market cap of $1.90 billion, a price-to-earnings ratio of 10.80, a PEG ratio of 1.58 and a beta of 1.02. The firm has a 50-day moving average of $23.81 and a two-hundred day moving average of $24.79. Patterson Companies, Inc. has a 12 month low of $19.96 and a 12 month high of $32.58. The company has a current ratio of 1.30, a quick ratio of 0.67 and a debt-to-equity ratio of 0.34.

Patterson Companies (NASDAQ:PDCO) last announced its quarterly earnings data on Wednesday, August 28th. The company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.08). The company had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.59 billion. Patterson Companies had a return on equity of 19.87% and a net margin of 2.58%. The business’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.40 EPS. As a group, analysts forecast that Patterson Companies, Inc. will post 2.33 earnings per share for the current fiscal year.

Patterson Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, October 18th. This represents a $1.04 annualized dividend and a dividend yield of 4.82%. Patterson Companies’s payout ratio is 52.00%.

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.