Patterson Companies, Inc. (NASDAQ:PDCO) Shares Acquired by Citigroup Inc.

Citigroup Inc. boosted its stake in Patterson Companies, Inc. (NASDAQ:PDCO) by 12.2% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 107,815 shares of the company’s stock after acquiring an additional 11,724 shares during the quarter. Citigroup Inc. owned 0.11% of Patterson Companies worth $2,886,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. grew its position 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 valued at $50,000 after purchasing an additional 377 shares during the period. Captrust Financial Advisors boosted its holdings in Patterson Companies by 28.7% in the 2nd quarter. Captrust Financial Advisors now owns 1,815 shares of the company’s stock worth $55,000 after buying an additional 405 shares during the last quarter. LPL Financial LLC increased its stake in Patterson Companies by 3.2% during the 4th quarter. LPL Financial LLC now owns 13,248 shares of the company’s stock worth $371,000 after buying an additional 406 shares in the last quarter. Ronald Blue Trust Inc. raised its holdings in shares of Patterson Companies by 20.1% during the first quarter. Ronald Blue Trust Inc. now owns 2,556 shares of the company’s stock valued at $72,000 after acquiring an additional 427 shares during the last quarter. Finally, New York Life Investment Management LLC raised its holdings in shares of Patterson Companies by 2.5% during the first quarter. New York Life Investment Management LLC now owns 17,956 shares of the company’s stock valued at $481,000 after acquiring an additional 434 shares during the last quarter. Hedge funds and other institutional investors own 79.24% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on PDCO shares. Robert W. Baird increased their price objective on Patterson Companies from $31.00 to $35.00 in a research note on Thursday, June 22nd. Bank of America increased their price objective on shares of Patterson Companies from $35.00 to $40.00 in a report on Thursday, June 22nd. Piper Sandler boosted their target price on Patterson Companies from $35.00 to $39.00 in a report on Thursday, June 22nd. Stifel Nicolaus reaffirmed a “hold” rating and issued a $32.00 price target on shares of Patterson Companies in a report on Thursday, August 31st. Finally, StockNews.com lowered Patterson Companies from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 30th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $35.00.

Insiders Place Their Bets

In other news, insider Les B. Korsh sold 3,500 shares of the business’s stock in a transaction that occurred on Wednesday, June 21st. The shares were sold at an average price of $31.75, for a total value of $111,125.00. Following the sale, the insider now directly owns 67,949 shares of the company’s stock, valued at approximately $2,157,380.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 completion of the sale, the insider now directly owns 67,949 shares of the company’s stock, valued at $2,157,380.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Donald Zurbay sold 1,666 shares of the business’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $32.34, for a total value of $53,878.44. Following the completion of the sale, the chief executive officer now owns 143,819 shares in the company, valued at approximately $4,651,106.46. The disclosure for this sale can be found here. Insiders sold a total of 15,380 shares of company stock valued at $496,590 over the last 90 days. 1.50% of the stock is owned by company insiders.

Patterson Companies Stock Up 0.6 %

PDCO stock opened at $30.23 on Tuesday. Patterson Companies, Inc. has a one year low of $23.87 and a one year high of $34.53. The firm has a market cap of $2.90 billion, a PE ratio of 13.80, a PEG ratio of 1.32 and a beta of 1.32. The firm’s 50 day moving average price is $32.76 and its 200-day moving average price is $29.09. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.79 and a current ratio of 1.63.

Patterson Companies (NASDAQ:PDCO) last posted its earnings results on Wednesday, August 30th. The company reported $0.40 EPS for the quarter, meeting analysts’ consensus estimates of $0.40. The company had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.58 billion. Patterson Companies had a return on equity of 22.24% and a net margin of 3.28%. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.32 earnings per share. On average, equities research analysts anticipate that Patterson Companies, Inc. will post 2.5 EPS for the current year.

Patterson Companies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 4th. Shareholders of record on Friday, July 21st were given a $0.26 dividend. The ex-dividend date of this dividend was Thursday, July 20th. This represents a $1.04 dividend on an annualized basis and a yield of 3.44%. Patterson Companies’s payout ratio is currently 47.49%.

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.