Patterson Companies, Inc. (NASDAQ:PDCO) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its position in shares of Patterson Companies, Inc. (NASDAQ:PDCO - Free Report) by 17.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 370,202 shares of the company's stock after selling 80,454 shares during the quarter. Principal Financial Group Inc. owned approximately 0.42% of Patterson Companies worth $8,085,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Patterson Companies by 28.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,842 shares of the company's stock valued at $479,000 after purchasing an additional 4,352 shares during the period. Van ECK Associates Corp increased its holdings in Patterson Companies by 1.8% in the 2nd quarter. Van ECK Associates Corp now owns 65,132 shares of the company's stock worth $1,571,000 after acquiring an additional 1,178 shares in the last quarter. nVerses Capital LLC acquired a new position in Patterson Companies during the second quarter worth $116,000. Versor Investments LP purchased a new position in Patterson Companies during the second quarter valued at $207,000. Finally, TD Asset Management Inc lifted its holdings in Patterson Companies by 26.1% during the second quarter. TD Asset Management Inc now owns 22,200 shares of the company's stock valued at $535,000 after purchasing an additional 4,600 shares in the last quarter. 85.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Patterson Companies

In other news, CEO Donald Zurbay sold 1,962 shares of the firm's stock in a transaction on Monday, December 9th. The stock was sold at an average price of $23.08, for a total transaction of $45,282.96. Following the completion of the transaction, the chief executive officer now directly owns 222,736 shares in the company, valued at $5,140,746.88. This trade represents a 0.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on PDCO shares. UBS Group reduced their price target on shares of Patterson Companies from $27.00 to $24.00 and set a "neutral" rating for the company in a research report on Thursday, September 5th. StockNews.com began coverage on Patterson Companies in a research report on Sunday. They issued a "hold" rating on the stock. Mizuho started coverage on Patterson Companies in a research report on Wednesday, December 4th. They set a "neutral" rating and a $23.00 price target for the company. Robert W. Baird increased their price objective on Patterson Companies from $25.00 to $31.00 and gave the company a "neutral" rating in a research note on Thursday, December 12th. Finally, Stifel Nicolaus reduced their target price on shares of Patterson Companies from $25.00 to $24.00 and set a "hold" rating for the company in a research report on Thursday, December 5th. Eleven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, Patterson Companies has an average rating of "Hold" and an average price target of $26.57.

Patterson Companies Trading Up 0.0 %

NASDAQ:PDCO traded up $0.01 on Wednesday, hitting $30.86. The stock had a trading volume of 1,736,127 shares, compared to its average volume of 1,028,501. The company has a fifty day moving average price of $24.35 and a two-hundred day moving average price of $23.58. The stock has a market cap of $2.73 billion, a price-to-earnings ratio of 18.05, a PEG ratio of 2.70 and a beta of 1.00. The company has a quick ratio of 0.76, a current ratio of 1.37 and a debt-to-equity ratio of 0.34. Patterson Companies, Inc. has a 1-year low of $19.45 and a 1-year high of $31.79.

Patterson Companies (NASDAQ:PDCO - Get Free Report) last issued its quarterly earnings data on Thursday, December 5th. The company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.02). Patterson Companies had a return on equity of 19.77% and a net margin of 2.37%. The business had revenue of $1.67 billion during the quarter, compared to analysts' expectations of $1.65 billion. During the same quarter in the previous year, the company posted $0.50 earnings per share. The company's revenue was up 1.0% on a year-over-year basis. Equities research analysts expect that Patterson Companies, Inc. will post 2.26 earnings per share for the current fiscal year.

Patterson Companies Company 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.