Meadow Creek Investment Management LLC increased its stake in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 4.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,008 shares of the company’s stock after purchasing an additional 1,652 shares during the quarter. Meadow Creek Investment Management LLC’s holdings in Patterson Companies were worth $1,301,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PDCO. Barrow Hanley Mewhinney & Strauss LLC grew its stake in Patterson Companies by 46.0% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,878,432 shares of the company’s stock worth $188,551,000 after purchasing an additional 1,536,422 shares in the last quarter. Alps Advisors Inc. acquired a new position in Patterson Companies during the 4th quarter worth $48,813,000. Victory Capital Management Inc. grew its stake in Patterson Companies by 90,810.4% during the 4th quarter. Victory Capital Management Inc. now owns 1,235,473 shares of the company’s stock worth $44,638,000 after purchasing an additional 1,234,114 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Patterson Companies by 70.7% during the 4th quarter. Bank of New York Mellon Corp now owns 1,681,338 shares of the company’s stock worth $60,747,000 after purchasing an additional 696,540 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC grew its stake in Patterson Companies by 152.8% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 885,174 shares of the company’s stock worth $34,212,000 after purchasing an additional 535,029 shares in the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.
In other news, insider Ann B. Gugino sold 750 shares of the business’s stock in a transaction dated Thursday, January 11th. The stock was sold at an average price of $36.38, for a total value of $27,285.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.46% of the company’s stock.
PDCO stock opened at $22.40 on Wednesday. The stock has a market capitalization of $2,192.67, a PE ratio of 8.65, a PEG ratio of 1.84 and a beta of 0.98. Patterson Companies, Inc. has a 1 year low of $22.16 and a 1 year high of $48.29. The company has a current ratio of 1.80, a quick ratio of 1.00 and a debt-to-equity ratio of 0.64.
Patterson Companies (NASDAQ:PDCO) last released its quarterly earnings data on Thursday, March 1st. The company reported $0.43 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.09). The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.38 billion. Patterson Companies had a return on equity of 13.85% and a net margin of 4.39%. The company’s revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.58 earnings per share. equities research analysts predict that Patterson Companies, Inc. will post 1.69 earnings per share for the current year.
Patterson Companies announced that its board has authorized a stock buyback plan on Tuesday, March 13th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 27th. Stockholders of record on Friday, April 13th will be given a dividend of $0.26 per share. The ex-dividend date is Thursday, April 12th. This represents a $1.04 annualized dividend and a dividend yield of 4.64%. Patterson Companies’s dividend payout ratio is currently 40.15%.
Several research analysts recently commented on PDCO shares. Zacks Investment Research raised Patterson Companies from a “sell” rating to a “buy” rating and set a $41.00 target price for the company in a research note on Tuesday, January 23rd. Robert W. Baird reissued a “buy” rating and set a $40.00 target price on shares of Patterson Companies in a research note on Wednesday, November 22nd. Northcoast Research set a $38.00 target price on Patterson Companies and gave the stock a “buy” rating in a research note on Thursday, March 1st. BidaskClub raised Patterson Companies from a “sell” rating to a “hold” rating in a research note on Tuesday, January 30th. Finally, Deutsche Bank started coverage on Patterson Companies in a research note on Friday, December 8th. They set a “hold” rating and a $37.00 target price for the company. Six analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $37.30.
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About Patterson Companies
Patterson Companies, Inc distributes and sells dental and animal health products in the United States, the United Kingdom, and Canada. It operates through Dental and Animal Health segments. The company's Dental segment offers consumable products, such as infection control, restorative materials, hand instruments, and sterilization products; basic and advanced technology dental equipment; patient education systems; and office forms and stationery.
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