EntryPoint Capital LLC Acquires New Stake in Patterson Companies, Inc. (NASDAQ:PDCO)

EntryPoint Capital LLC purchased a new position in shares of Patterson Companies, Inc. (NASDAQ:PDCO) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,059 shares of the company’s stock, valued at approximately $140,000.

Several other large investors also recently bought and sold shares of the stock. HBK Sorce Advisory LLC increased its holdings in Patterson Companies by 4.8% during the 4th quarter. HBK Sorce Advisory LLC now owns 7,432 shares of the company’s stock worth $211,000 after purchasing an additional 341 shares during the period. Strs Ohio increased its holdings in Patterson Companies by 1.4% during the 4th quarter. Strs Ohio now owns 35,300 shares of the company’s stock worth $1,004,000 after purchasing an additional 500 shares during the period. Amalgamated Bank increased its holdings in Patterson Companies by 1.0% during the 4th quarter. Amalgamated Bank now owns 49,989 shares of the company’s stock worth $1,422,000 after purchasing an additional 503 shares during the period. US Bancorp DE increased its holdings in shares of Patterson Companies by 2.1% in the 4th quarter. US Bancorp DE now owns 29,863 shares of the company’s stock valued at $850,000 after acquiring an additional 610 shares during the last quarter. Finally, Values First Advisors Inc. increased its holdings in shares of Patterson Companies by 6.6% in the 4th quarter. Values First Advisors Inc. now owns 10,940 shares of the company’s stock valued at $311,000 after acquiring an additional 677 shares during the last quarter. Hedge funds and other institutional investors own 85.43% of the company’s stock.

Insider Transactions at Patterson Companies

In other news, insider Les B. Korsh sold 2,842 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $2,460,268.15. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider Les B. Korsh sold 2,842 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $2,460,268.15. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Kevin Michael Barry sold 1,216 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 41,605 shares of the company’s stock, valued at $986,870.60. The disclosure for this sale can be found here. In the last three months, insiders sold 17,149 shares of company stock valued at $415,851. Corporate insiders own 1.50% of the company’s stock.

Patterson Companies Stock Performance

Patterson Companies stock traded up $0.39 during mid-day trading on Friday, reaching $26.35. 201,244 shares of the company were exchanged, compared to its average volume of 991,004. Patterson Companies, Inc. has a twelve month low of $22.29 and a twelve month high of $34.53. The firm’s 50-day simple moving average is $24.27 and its two-hundred day simple moving average is $26.40. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.75 and a current ratio of 1.33. The firm has a market cap of $2.31 billion, a PE ratio of 13.15, a price-to-earnings-growth ratio of 2.36 and a beta of 1.06.

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

Patterson Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Stockholders of record on Friday, July 19th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date is Friday, July 19th. Patterson Companies’s dividend payout ratio (DPR) is 52.00%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Evercore ISI dropped their price objective on Patterson Companies from $27.00 to $25.00 and set an “in-line” rating on the stock in a report on Tuesday, July 9th. StockNews.com downgraded Patterson Companies from a “buy” rating to a “hold” rating in a report on Saturday, June 1st. Bank of America dropped their price objective on Patterson Companies from $34.00 to $32.00 and set a “buy” rating on the stock in a report on Monday, May 20th. Morgan Stanley dropped their price objective on Patterson Companies from $30.00 to $28.00 and set an “equal weight” rating on the stock in a report on Thursday, June 20th. Finally, JPMorgan Chase & Co. decreased 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. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $30.00.

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.