New York State Teachers Retirement System Has $4.06 Million Holdings in Patterson Companies, Inc. (NASDAQ:PDCO)

New York State Teachers Retirement System raised its holdings in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 2.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 142,815 shares of the company’s stock after buying an additional 3,914 shares during the quarter. New York State Teachers Retirement System’s holdings in Patterson Companies were worth $4,063,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the business. International Assets Investment Management LLC lifted its holdings in shares of Patterson Companies by 5,021.0% during the fourth quarter. International Assets Investment Management LLC now owns 5,121 shares of the company’s stock worth $146,000 after buying an additional 5,021 shares during the last quarter. Welch Group LLC acquired a new position in shares of Patterson Companies during the fourth quarter worth approximately $213,000. Values First Advisors Inc. lifted its holdings in shares of Patterson Companies by 6.6% during the fourth quarter. Values First Advisors Inc. now owns 10,940 shares of the company’s stock worth $311,000 after buying an additional 677 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Patterson Companies by 30.6% during the fourth quarter. Pacer Advisors Inc. now owns 12,783 shares of the company’s stock worth $364,000 after buying an additional 2,993 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Patterson Companies by 4.9% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 15,532 shares of the company’s stock worth $442,000 after buying an additional 732 shares during the last quarter. 85.43% of the stock is currently owned by institutional investors and hedge funds.

Patterson Companies Stock Performance

Shares of NASDAQ:PDCO opened at $25.46 on Monday. The business’s fifty day moving average price is $27.45 and its two-hundred day moving average price is $28.79. Patterson Companies, Inc. has a fifty-two week low of $25.00 and a fifty-two week high of $34.53. The stock has a market capitalization of $2.28 billion, a price-to-earnings ratio of 12.54, a price-to-earnings-growth ratio of 1.34 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.

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

Patterson Companies Announces Dividend

The firm 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 dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 4.08%. The ex-dividend date of this dividend is Thursday, April 18th. Patterson Companies’s payout ratio is presently 51.23%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. SVB Leerink began coverage on Patterson Companies in a report on Monday, February 26th. They set an “outperform” rating and a $36.00 price target for the company. JPMorgan Chase & Co. lowered their price objective on Patterson Companies from $31.00 to $30.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 6th. Leerink Partnrs restated an “outperform” rating on shares of Patterson Companies in a research report on Monday, February 26th. Finally, Piper Sandler cut Patterson Companies from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $34.00 to $28.00 in a research report on Thursday, February 29th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Patterson Companies presently has an average rating of “Hold” and an average price target 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.