Patterson Companies, Inc. (NASDAQ:PDCO) Shares Sold by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. reduced its holdings in Patterson Companies, Inc. (NASDAQ:PDCO) by 11.6% during the 4th quarter, Holdings Channel reports. The firm owned 88,836 shares of the company’s stock after selling 11,657 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Patterson Companies were worth $2,531,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in PDCO. Norges Bank acquired a new position in Patterson Companies during the fourth quarter worth $22,778,000. Morgan Stanley grew its holdings in shares of Patterson Companies by 44.1% in the fourth quarter. Morgan Stanley now owns 1,921,031 shares of the company’s stock valued at $53,847,000 after purchasing an additional 587,570 shares in the last quarter. Nordea Investment Management AB lifted its holdings in Patterson Companies by 25.3% during the 4th quarter. Nordea Investment Management AB now owns 2,594,944 shares of the company’s stock worth $73,852,000 after buying an additional 523,226 shares in the last quarter. Bank of America Corp DE lifted its holdings in Patterson Companies by 35.9% during the 1st quarter. Bank of America Corp DE now owns 1,907,391 shares of the company’s stock worth $51,061,000 after buying an additional 503,683 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in Patterson Companies by 93.3% in the 2nd quarter. Goldman Sachs Group Inc. now owns 789,726 shares of the company’s stock valued at $26,266,000 after buying an additional 381,278 shares during the period. 85.43% of the stock is currently owned by hedge funds and other institutional investors.

Patterson Companies Stock Down 1.0 %

Shares of NASDAQ PDCO opened at $25.46 on Friday. Patterson Companies, Inc. has a 1 year low of $25.00 and a 1 year high of $34.53. The company has a market capitalization of $2.28 billion, a price-to-earnings ratio of 12.54, a price-to-earnings-growth ratio of 1.35 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 business has a 50-day moving average of $27.45 and a two-hundred day moving average of $28.80.

Patterson Companies (NASDAQ:PDCO) last posted its earnings results on Wednesday, February 28th. The company reported $0.59 earnings per share 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 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 in the previous year, the firm earned $0.62 EPS. On average, analysts forecast that Patterson Companies, Inc. will post 2.32 earnings per share for the current fiscal year.

Patterson Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 3rd. Stockholders of record on Friday, April 19th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 4.08%. The ex-dividend date is Thursday, April 18th. Patterson Companies’s payout ratio is 51.23%.

Wall Street Analyst Weigh In

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

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.