Aristides Capital LLC Buys New Holdings in Patterson Companies, Inc. (NASDAQ:PDCO)

Aristides Capital LLC purchased a new stake in shares of Patterson Companies, Inc. (NASDAQ:PDCO) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 10,185 shares of the company’s stock, valued at approximately $246,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. boosted its position in Patterson Companies by 1,574.9% during the 2nd quarter. Point72 Asset Management L.P. now owns 340,000 shares of the company’s stock worth $8,201,000 after purchasing an additional 319,700 shares during the period. Algert Global LLC acquired a new stake in shares of Patterson Companies in the second quarter valued at about $1,939,000. Scientech Research LLC raised its holdings in shares of Patterson Companies by 30.2% during the 2nd quarter. Scientech Research LLC now owns 11,697 shares of the company’s stock valued at $282,000 after buying an additional 2,714 shares during the period. Deerfield Management Company L.P. Series C purchased a new stake in shares of Patterson Companies during the 2nd quarter valued at about $947,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Patterson Companies during the 2nd quarter worth approximately $384,000. 85.43% of the stock is currently owned by institutional investors and hedge funds.

Patterson Companies Stock Performance

PDCO stock opened at $21.84 on Tuesday. The stock’s 50 day simple moving average is $23.36 and its 200 day simple moving average is $24.55. Patterson Companies, Inc. has a 12-month low of $19.96 and a 12-month high of $32.58. The firm has a market cap of $1.92 billion, a P/E ratio of 10.92, a P/E/G ratio of 1.57 and a beta of 1.02. 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 posted its quarterly earnings results on Wednesday, August 28th. The company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 return on equity of 19.87% and a net margin of 2.58%. The company’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 earnings per share. As a group, equities research analysts predict that Patterson Companies, Inc. will post 2.33 EPS for the current year.

Patterson Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 18th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 4.76%. The ex-dividend date is Friday, October 18th. Patterson Companies’s payout ratio is 52.00%.

Insider Activity

In related news, 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 sale, the insider now directly owns 103,765 shares in the company, valued at approximately $2,460,268.15. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Patterson Companies news, CEO Donald Zurbay sold 5,875 shares of the stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $23.71, for a total transaction of $139,296.25. Following the completion of the transaction, the chief executive officer now directly owns 237,288 shares of the company’s stock, valued at approximately $5,626,098.48. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Les B. Korsh sold 2,842 shares of the business’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $23.71, for a total value of $67,383.82. Following the completion of the sale, 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 currently owned by company insiders.

Wall Street Analyst Weigh In

PDCO has been the subject of several recent research reports. Robert W. Baird lowered their price objective on shares of Patterson Companies from $30.00 to $28.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. UBS Group dropped their price target on shares of Patterson Companies from $27.00 to $24.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. Bank of America decreased their price objective on shares of Patterson Companies from $31.00 to $29.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. JPMorgan Chase & Co. dropped their target price on Patterson Companies from $29.00 to $26.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. Finally, Evercore ISI reduced their price target on Patterson Companies from $25.00 to $23.00 and set an “in-line” rating for the company in a report on Thursday, August 29th. Nine investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $28.40.

Patterson Companies 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.