Allspring Global Investments Holdings LLC Purchases 133,760 Shares of Patterson Companies, Inc. (NASDAQ:PDCO)

Allspring Global Investments Holdings LLC raised its position in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 7.5% in the second quarter, HoldingsChannel reports. The firm owned 1,925,898 shares of the company’s stock after buying an additional 133,760 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Patterson Companies were worth $46,453,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC bought a new stake in Patterson Companies during the 4th quarter worth approximately $32,000. LRI Investments LLC raised its position in shares of Patterson Companies by 201.2% during the 2nd quarter. LRI Investments LLC now owns 1,262 shares of the company’s stock valued at $30,000 after purchasing an additional 843 shares during the period. Spire Wealth Management bought a new position in Patterson Companies in the 1st quarter worth $35,000. Mather Group LLC. lifted its position in shares of 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 in the last quarter. Finally, Family Firm Inc. purchased a new position in Patterson Companies in the 2nd quarter worth approximately $45,000. 85.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Patterson Companies

In other Patterson Companies 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 transaction of $180,327.84. Following the completion of the sale, the chief executive officer now directly owns 230,072 shares of the company’s stock, valued at $5,749,499.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Donald Zurbay sold 7,216 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $24.99, for a total transaction of $180,327.84. Following the completion of the sale, the chief executive officer now owns 230,072 shares of the company’s stock, valued at $5,749,499.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction of $28,843.52. Following the completion of the transaction, the chief financial officer now directly owns 41,605 shares in the company, valued at $986,870.60. The disclosure for this sale can be found here. Insiders have sold 17,149 shares of company stock worth $415,851 over the last quarter. Insiders own 1.50% of the company’s stock.

Patterson Companies Trading Up 0.0 %

PDCO stock traded up $0.01 during trading on Tuesday, hitting $25.35. The company had a trading volume of 27,243 shares, compared to its average volume of 950,301. Patterson Companies, Inc. has a 52-week low of $22.29 and a 52-week high of $33.90. The firm has a market capitalization of $2.22 billion, a P/E ratio of 12.67, a PEG ratio of 2.32 and a beta of 1.06. The company has a 50 day simple moving average of $24.65 and a 200-day simple moving average of $25.59. The company has a quick ratio of 0.75, a current ratio of 1.33 and a debt-to-equity ratio of 0.33.

Patterson Companies (NASDAQ:PDCO) last released its quarterly earnings data on Tuesday, June 18th. The company reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.01). The business had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.70 billion. Patterson Companies had a net margin of 2.83% and a return on equity of 20.80%. Patterson Companies’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.84 earnings per share. As a group, research analysts forecast that Patterson Companies, Inc. will post 2.36 earnings per share for the current fiscal year.

Patterson Companies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Friday, July 19th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 4.10%. The ex-dividend date of this dividend was Friday, July 19th. Patterson Companies’s payout ratio is 52.00%.

Analyst Ratings Changes

PDCO has been the topic of a number of research reports. Evercore ISI reduced their price target on shares of Patterson Companies from $27.00 to $25.00 and set an “in-line” rating on the stock in a report on Tuesday, July 9th. JPMorgan Chase & Co. lowered their target price on Patterson Companies from $30.00 to $29.00 and set a “neutral” rating for the company in a research report on Thursday, June 20th. Bank of America reduced their price target on shares of Patterson Companies from $34.00 to $32.00 and set a “buy” rating on the stock in a research report on Monday, May 20th. Morgan Stanley lowered their price target on shares of Patterson Companies from $30.00 to $28.00 and set an “equal weight” rating for the company in a report on Thursday, June 20th. Finally, StockNews.com downgraded Patterson Companies from a “buy” rating to a “hold” rating in a research report on Saturday, June 1st. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $30.00.

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.