Texas Permanent School Fund Sells 492 Shares of Patterson Companies, Inc. (NASDAQ:PDCO)

Texas Permanent School Fund trimmed its holdings in shares of Patterson Companies, Inc. (NASDAQ:PDCOGet Rating) by 0.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,306 shares of the company’s stock after selling 492 shares during the quarter. Texas Permanent School Fund owned 0.06% of Patterson Companies worth $1,497,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Raymond James & Associates grew its holdings in Patterson Companies by 294.8% during the 3rd quarter. Raymond James & Associates now owns 581,709 shares of the company’s stock worth $13,973,000 after acquiring an additional 434,373 shares during the last quarter. Foundry Partners LLC increased its position in shares of Patterson Companies by 22.1% during the third quarter. Foundry Partners LLC now owns 13,580 shares of the company’s stock worth $326,000 after buying an additional 2,455 shares during the period. Louisiana State Employees Retirement System bought a new position in Patterson Companies during the third quarter worth $552,000. Nordea Investment Management AB raised its stake in Patterson Companies by 2,209.9% during the third quarter. Nordea Investment Management AB now owns 1,849,812 shares of the company’s stock worth $45,302,000 after buying an additional 1,769,729 shares during the last quarter. Finally, Romano Brothers AND Company bought a new position in Patterson Companies during the third quarter worth $320,000. 81.09% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Patterson Companies news, CFO Kevin Michael Barry sold 9,443 shares of the business’s stock in a transaction that occurred on Monday, December 5th. The stock was sold at an average price of $29.10, for a total transaction of $274,791.30. Following the completion of the sale, the chief financial officer now directly owns 6,442 shares of the company’s stock, valued at approximately $187,462.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.10% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Evercore ISI boosted their price objective on Patterson Companies to $30.00 in a research note on Friday, December 2nd. Piper Sandler dropped their price objective on Patterson Companies from $40.00 to $35.00 and set an “overweight” rating on the stock in a research note on Monday, October 17th. StockNews.com raised Patterson Companies from a “hold” rating to a “buy” rating in a research note on Tuesday. TheStreet raised Patterson Companies from a “c+” rating to a “b” rating in a research note on Thursday, December 1st. Finally, Credit Suisse Group boosted their price objective on Patterson Companies to $39.00 and gave the company an “outperform” rating in a research note on Monday, November 28th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $33.83.

Patterson Companies Stock Performance

Shares of Patterson Companies stock opened at $28.85 on Thursday. Patterson Companies, Inc. has a one year low of $23.87 and a one year high of $35.29. The firm has a market capitalization of $2.80 billion, a price-to-earnings ratio of 14.21, a PEG ratio of 1.58 and a beta of 1.27. The business has a 50-day simple moving average of $28.33 and a 200 day simple moving average of $28.16. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.60 and a quick ratio of 0.83.

Patterson Companies (NASDAQ:PDCOGet Rating) last issued its earnings results on Thursday, December 1st. The company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.06. Patterson Companies had a return on equity of 20.93% and a net margin of 3.13%. The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same period in the previous year, the company posted $0.58 EPS. The firm’s revenue was down 1.4% compared to the same quarter last year. On average, research analysts anticipate that Patterson Companies, Inc. will post 2.28 earnings per share for the current fiscal year.

Patterson Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 3rd. Shareholders of record on Friday, January 20th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date is Thursday, January 19th. Patterson Companies’s dividend payout ratio is currently 51.23%.

Patterson Companies Profile

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Patterson Companies, Inc engages in 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.

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Institutional Ownership by Quarter for Patterson Companies (NASDAQ:PDCO)

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