ING Groep NV raised its holdings in shares of Patterson Companies (NASDAQ:PDCO) by 58.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 12,404 shares of the company’s stock after acquiring an additional 4,572 shares during the period. ING Groep NV’s holdings in Patterson Companies were worth $276,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Advisory Services Network LLC increased its position in shares of Patterson Companies by 346.8% in the 4th quarter. Advisory Services Network LLC now owns 3,454 shares of the company’s stock valued at $125,000 after buying an additional 2,681 shares in the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH bought a new stake in shares of Patterson Companies in the 4th quarter valued at $145,000. Two Sigma Securities LLC bought a new stake in shares of Patterson Companies in the 4th quarter valued at $209,000. IFG Advisory LLC bought a new stake in shares of Patterson Companies in the 4th quarter valued at $212,000. Finally, Cambridge Investment Research Advisors Inc. bought a new stake in shares of Patterson Companies in the 4th quarter valued at $212,000. Institutional investors own 90.42% of the company’s stock.
Patterson Companies opened at $21.81 on Wednesday, MarketBeat reports. Patterson Companies has a 1 year low of $21.09 and a 1 year high of $48.29. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.80 and a quick ratio of 1.00. The stock has a market cap of $2.09 billion, a price-to-earnings ratio of 9.32, a PEG ratio of 1.76 and a beta of 1.15.
Patterson Companies (NASDAQ:PDCO) last posted its quarterly earnings data on Thursday, March 1st. The company reported $0.43 EPS for the quarter, missing the Zacks’ consensus estimate of $0.52 by ($0.09). Patterson Companies had a return on equity of 13.85% and a net margin of 4.39%. The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the prior year, the company earned $0.58 earnings per share. The company’s quarterly revenue was down 1.6% on a year-over-year basis. sell-side analysts forecast that Patterson Companies will post 1.69 earnings per share for the current year.
Patterson Companies declared that its board has approved a share buyback program on Tuesday, March 13th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 27th. Stockholders of record on Friday, April 13th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Thursday, April 12th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.77%. Patterson Companies’s dividend payout ratio is 44.44%.
A number of analysts recently commented on the stock. BidaskClub cut shares of Patterson Companies from a “hold” rating to a “sell” rating in a research report on Wednesday, January 24th. Piper Jaffray Companies restated a “hold” rating and issued a $24.00 price objective on shares of Patterson Companies in a research report on Wednesday, April 4th. Zacks Investment Research cut Patterson Companies from a “buy” rating to a “hold” rating in a report on Monday, March 5th. JPMorgan Chase cut Patterson Companies from a “neutral” rating to an “underweight” rating and lowered their target price for the stock from $40.00 to $36.00 in a report on Thursday, February 15th. Finally, Northcoast Research reiterated a “buy” rating on shares of Patterson Companies in a report on Wednesday, May 16th. Six research analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $36.17.
Patterson Companies Company Profile
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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