River Road Asset Management LLC Sells 164,413 Shares of Patterson Companies, Inc. (NASDAQ:PDCO)

River Road Asset Management LLC cut its holdings in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 6.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,528,287 shares of the company’s stock after selling 164,413 shares during the period. River Road Asset Management LLC owned approximately 2.73% of Patterson Companies worth $71,930,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Money Concepts Capital Corp lifted its holdings in Patterson Companies by 195.7% in the fourth quarter. Money Concepts Capital Corp now owns 902 shares of the company’s stock valued at $25,000 after acquiring an additional 597 shares during the period. Quarry LP lifted its holdings in Patterson Companies by 499.4% in the first quarter. Quarry LP now owns 1,001 shares of the company’s stock valued at $27,000 after acquiring an additional 834 shares during the period. Fifth Third Bancorp lifted its holdings in Patterson Companies by 54.8% in the third quarter. Fifth Third Bancorp now owns 1,226 shares of the company’s stock valued at $36,000 after acquiring an additional 434 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in shares of Patterson Companies by 27.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,773 shares of the company’s stock worth $50,000 after buying an additional 377 shares during the period. Finally, Captrust Financial Advisors raised its stake in Patterson Companies by 28.7% during the 2nd quarter. Captrust Financial Advisors now owns 1,815 shares of the company’s stock valued at $55,000 after purchasing an additional 405 shares during the period. 85.43% of the stock is owned by hedge funds and other institutional investors.

Patterson Companies Trading Up 0.4 %

Shares of Patterson Companies stock traded up $0.10 on Wednesday, reaching $25.73. The company had a trading volume of 569,361 shares, compared to its average volume of 1,050,932. The firm has a market cap of $2.31 billion, a price-to-earnings ratio of 12.68, a P/E/G ratio of 1.33 and a beta of 1.06. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.43 and a quick ratio of 0.72. The firm’s 50-day moving average price is $27.31 and its two-hundred day moving average price is $28.73. Patterson Companies, Inc. has a 1 year low of $25.00 and a 1 year high of $34.53.

Patterson Companies (NASDAQ:PDCO) last announced its earnings results on Wednesday, February 28th. The company reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). The company had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Patterson Companies had a return on equity of 20.98% and a net margin of 2.95%. Patterson Companies’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.62 EPS. As a group, research analysts predict that Patterson Companies, Inc. will post 2.32 earnings per share for the current fiscal year.

Patterson Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 3rd. Investors of record on Friday, April 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 4.04%. The ex-dividend date is Thursday, April 18th. Patterson Companies’s dividend payout ratio is currently 51.23%.

Analyst Ratings Changes

Several analysts recently issued reports on PDCO shares. JPMorgan Chase & Co. decreased their target price on Patterson Companies from $31.00 to $30.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 6th. Leerink Partnrs restated an “outperform” rating on shares of Patterson Companies in a report on Monday, February 26th. SVB Leerink began coverage on Patterson Companies in a report on Monday, February 26th. They set an “outperform” rating and a $36.00 price target for the company. Finally, Piper Sandler cut Patterson Companies from an “overweight” rating to a “neutral” rating and cut their price target for the company from $34.00 to $28.00 in a report on Thursday, February 29th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $33.11.

Patterson Companies 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.