Patterson Companies, Inc. (NASDAQ:PDCO) Shares Sold by Foundry Partners LLC

Foundry Partners LLC cut its holdings in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 12.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,317 shares of the company’s stock after selling 2,090 shares during the period. Foundry Partners LLC’s holdings in Patterson Companies were worth $407,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. SG Americas Securities LLC raised its holdings in shares of Patterson Companies by 516.6% during the third quarter. SG Americas Securities LLC now owns 45,191 shares of the company’s stock valued at $1,339,000 after acquiring an additional 37,862 shares during the period. Handelsbanken Fonder AB raised its holdings in shares of Patterson Companies by 51.5% during the third quarter. Handelsbanken Fonder AB now owns 20,300 shares of the company’s stock valued at $602,000 after acquiring an additional 6,900 shares during the period. Mission Wealth Management LP raised its holdings in shares of Patterson Companies by 3.9% during the third quarter. Mission Wealth Management LP now owns 37,147 shares of the company’s stock valued at $1,101,000 after acquiring an additional 1,382 shares during the period. Foster & Motley Inc. raised its holdings in shares of Patterson Companies by 4.0% during the third quarter. Foster & Motley Inc. now owns 92,868 shares of the company’s stock valued at $2,753,000 after acquiring an additional 3,588 shares during the period. Finally, Brown Advisory Inc. raised its holdings in shares of Patterson Companies by 2.6% during the third quarter. Brown Advisory Inc. now owns 1,390,876 shares of the company’s stock valued at $41,226,000 after acquiring an additional 34,958 shares during the period. 85.43% of the stock is owned by institutional investors and hedge funds.

Patterson Companies Stock Performance

Shares of PDCO opened at $25.91 on Tuesday. The company’s fifty day moving average is $27.07 and its 200-day moving average is $28.62. Patterson Companies, Inc. has a 12 month low of $25.00 and a 12 month high of $34.53. The firm has a market cap of $2.32 billion, a price-to-earnings ratio of 12.76, a price-to-earnings-growth ratio of 1.37 and a beta of 1.06. The company has a quick ratio of 0.72, a current ratio of 1.43 and a debt-to-equity ratio of 0.46.

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

Patterson Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 3rd. Investors of record on Friday, April 19th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 4.01%. The ex-dividend date of this dividend is Thursday, April 18th. Patterson Companies’s dividend payout ratio is currently 51.23%.

Analyst Ratings Changes

Several research analysts have weighed in on PDCO shares. JPMorgan Chase & Co. dropped their price objective on shares of Patterson Companies from $31.00 to $30.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 6th. Piper Sandler lowered shares of Patterson Companies from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $34.00 to $28.00 in a research note on Thursday, February 29th. Leerink Partnrs reiterated an “outperform” rating on shares of Patterson Companies in a research note on Monday, February 26th. Finally, SVB Leerink started coverage on shares of Patterson Companies in a research note on Monday, February 26th. They issued an “outperform” rating and a $36.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price 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.