Central Pacific Bank Trust Division Buys 3,500 Shares of Patterson Companies, Inc. (NASDAQ:PDCO)

Central Pacific Bank Trust Division lifted its stake in Patterson Companies, Inc. (NASDAQ:PDCO) by 100.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,000 shares of the company’s stock after purchasing an additional 3,500 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Patterson Companies were worth $153,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in PDCO. LRI Investments LLC boosted its position in shares of Patterson Companies by 201.2% in the 2nd quarter. LRI Investments LLC now owns 1,262 shares of the company’s stock worth $30,000 after purchasing an additional 843 shares in the last quarter. Mather Group LLC. lifted its position in Patterson Companies by 1,376.1% in the 2nd 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 in the last quarter. Canada Pension Plan Investment Board bought a new position in Patterson Companies in the 2nd quarter valued at approximately $41,000. Family Firm Inc. bought a new position in Patterson Companies in the 2nd quarter valued at approximately $45,000. Finally, Meeder Asset Management Inc. bought a new position in Patterson Companies in the 2nd quarter valued at approximately $45,000. 85.43% of the stock is owned by institutional investors.

Insider Transactions at Patterson Companies

In other Patterson Companies news, CEO Donald Zurbay sold 7,216 shares of the stock in a transaction on 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 sale, the chief executive officer now owns 230,072 shares in the company, valued at approximately $5,749,499.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.50% of the stock is currently owned by company insiders.

Patterson Companies Price Performance

NASDAQ PDCO opened at $20.60 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 0.67. The stock has a market capitalization of $1.82 billion, a price-to-earnings ratio of 10.30, a PEG ratio of 1.61 and a beta of 1.02. Patterson Companies, Inc. has a 1-year low of $19.96 and a 1-year high of $32.58. The business’s fifty day moving average price is $22.96 and its 200-day moving average price is $24.40.

Patterson Companies (NASDAQ:PDCO) last posted its quarterly earnings data on Wednesday, August 28th. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.08). The company had revenue of $1.54 billion during 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 company’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter last year, the company earned $0.40 earnings per share. On average, equities analysts predict that Patterson Companies, Inc. will post 2.33 earnings per share for the current year.

Patterson Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $1.04 annualized dividend and a dividend yield of 5.05%. Patterson Companies’s dividend payout ratio (DPR) is 52.00%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on PDCO shares. Robert W. Baird lowered 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. Bank of America lowered their price objective on Patterson Companies from $31.00 to $29.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Evercore ISI lowered their price objective on Patterson Companies from $25.00 to $23.00 and set an “in-line” rating on the stock in a research report on Thursday, August 29th. UBS Group lowered their price objective on Patterson Companies from $27.00 to $24.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. Finally, JPMorgan Chase & Co. lowered their price objective 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. Nine research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target 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.