Tower Research Capital LLC TRC Buys 2,618 Shares of Patterson Companies, Inc. (NASDAQ:PDCO)

Tower Research Capital LLC TRC raised its stake in Patterson Companies, Inc. (NASDAQ:PDCO) by 102.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,172 shares of the company’s stock after purchasing an additional 2,618 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Patterson Companies were worth $138,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Patterson Companies by 1.6% in the third quarter. Vanguard Group Inc. now owns 9,099,018 shares of the company’s stock valued at $218,558,000 after purchasing an additional 147,277 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Patterson Companies by 2.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,117,985 shares of the company’s stock valued at $115,428,000 after buying an additional 100,416 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Patterson Companies by 1.2% in the fourth quarter. American Century Companies Inc. now owns 2,971,202 shares of the company’s stock valued at $83,283,000 after buying an additional 34,268 shares during the last quarter. State Street Corp lifted its position in shares of Patterson Companies by 3.3% in the third quarter. State Street Corp now owns 2,875,503 shares of the company’s stock valued at $69,070,000 after buying an additional 91,095 shares during the last quarter. Finally, Nordea Investment Management AB lifted its position in shares of Patterson Companies by 0.8% in the first quarter. Nordea Investment Management AB now owns 2,466,668 shares of the company’s stock valued at $65,564,000 after buying an additional 18,913 shares during the last quarter. 79.24% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PDCO has been the subject of several research reports. StockNews.com cut Patterson Companies from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Robert W. Baird lifted their price target on Patterson Companies from $31.00 to $35.00 in a report on Thursday, June 22nd. Piper Sandler lifted their price target on Patterson Companies from $35.00 to $39.00 in a report on Thursday, June 22nd. Stifel Nicolaus lifted their price target on Patterson Companies from $30.00 to $32.00 in a report on Thursday, June 22nd. Finally, Bank of America lifted their price target on Patterson Companies from $35.00 to $40.00 in a report on Thursday, June 22nd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $35.00.

Insider Activity

In other news, insider Les B. Korsh sold 3,500 shares of Patterson Companies stock in a transaction on Wednesday, June 21st. The stock was sold at an average price of $31.75, for a total value of $111,125.00. Following the transaction, the insider now owns 67,949 shares in the company, valued at approximately $2,157,380.75. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Donald Zurbay sold 1,666 shares of the business’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $32.34, for a total transaction of $53,878.44. Following the sale, the chief executive officer now owns 143,819 shares in the company, valued at approximately $4,651,106.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Les B. Korsh sold 3,500 shares of the business’s stock in a transaction on Wednesday, June 21st. The stock was sold at an average price of $31.75, for a total value of $111,125.00. Following the sale, the insider now owns 67,949 shares in the company, valued at approximately $2,157,380.75. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,380 shares of company stock worth $496,590. Insiders own 1.50% of the company’s stock.

Patterson Companies Price Performance

Shares of NASDAQ PDCO opened at $30.74 on Thursday. The stock has a market capitalization of $2.94 billion, a PE ratio of 14.50, a P/E/G ratio of 1.48 and a beta of 1.30. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.64 and a quick ratio of 0.91. The business has a fifty day moving average price of $32.83 and a two-hundred day moving average price of $29.08. Patterson Companies, Inc. has a fifty-two week low of $23.87 and a fifty-two week high of $34.53.

Patterson Companies (NASDAQ:PDCO) last announced its quarterly earnings data on Wednesday, August 30th. The company reported $0.40 earnings per share for the quarter, meeting the consensus estimate of $0.40. Patterson Companies had a return on equity of 22.04% and a net margin of 3.21%. The firm had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same period in the previous year, the firm earned $0.32 EPS. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. As a group, equities analysts predict that Patterson Companies, Inc. will post 2.5 earnings per share for the current fiscal year.

Patterson Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 4th. Stockholders of record on Friday, July 21st were paid a $0.26 dividend. The ex-dividend date was Thursday, July 20th. This represents a $1.04 annualized dividend and a dividend yield of 3.38%. Patterson Companies’s payout ratio is 49.06%.

Patterson Companies Company 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.