Foundry Partners LLC boosted its stake in Patterson Companies, Inc. (NASDAQ:PDCO) by 6.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 22,235 shares of the company’s stock after buying an additional 1,328 shares during the period. Foundry Partners LLC’s holdings in Patterson Companies were worth $340,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of PDCO. Amundi Pioneer Asset Management Inc. raised its holdings in Patterson Companies by 33.4% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 144,328 shares of the company’s stock valued at $3,154,000 after buying an additional 36,096 shares during the period. State Street Corp raised its holdings in Patterson Companies by 1.6% in the 3rd quarter. State Street Corp now owns 2,983,118 shares of the company’s stock valued at $53,159,000 after buying an additional 45,836 shares during the period. Dupont Capital Management Corp purchased a new stake in Patterson Companies in the 4th quarter valued at about $191,000. California Public Employees Retirement System raised its holdings in Patterson Companies by 46.2% in the 4th quarter. California Public Employees Retirement System now owns 226,519 shares of the company’s stock valued at $4,639,000 after buying an additional 71,547 shares during the period. Finally, Rowland & Co. Investment Counsel ADV raised its holdings in Patterson Companies by 6.4% in the 4th quarter. Rowland & Co. Investment Counsel ADV now owns 116,390 shares of the company’s stock valued at $2,384,000 after buying an additional 7,028 shares during the period. Hedge funds and other institutional investors own 90.80% of the company’s stock.
PDCO stock opened at $17.32 on Friday. The company’s 50 day moving average price is $15.55 and its 200 day moving average price is $19.63. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.69 and a current ratio of 1.41. Patterson Companies, Inc. has a fifty-two week low of $12.93 and a fifty-two week high of $25.70. The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of 11.55, a PEG ratio of 3.18 and a beta of 1.52.
Patterson Companies (NASDAQ:PDCO) last released its earnings results on Thursday, February 27th. The company reported $0.47 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.10. Patterson Companies had a net margin of 0.85% and a return on equity of 9.57%. The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same period in the prior year, the firm earned $0.38 earnings per share. The business’s quarterly revenue was up 4.3% compared to the same quarter last year. Equities analysts forecast that Patterson Companies, Inc. will post 1.3 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, April 24th. Investors of record on Friday, April 10th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Wednesday, April 8th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 6.00%. Patterson Companies’s payout ratio is 74.29%.
A number of brokerages have issued reports on PDCO. Robert W. Baird boosted their price target on shares of Patterson Companies from $22.00 to $28.00 and gave the stock a “neutral” rating in a research note on Friday, February 28th. Barclays reiterated a “sell” rating and set a $16.00 price target on shares of Patterson Companies in a research note on Friday, March 20th. Bank of America upgraded shares of Patterson Companies from a “neutral” rating to a “buy” rating and set a $28.00 price target on the stock in a research note on Thursday, February 27th. Wolfe Research upgraded shares of Patterson Companies from an “underperform” rating to a “market perform” rating in a research note on Thursday, April 2nd. Finally, JPMorgan Chase & Co. upgraded shares of Patterson Companies from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $20.00 to $25.00 in a research note on Friday, February 28th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. Patterson Companies has an average rating of “Hold” and an average price target of $21.44.
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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