DekaBank Deutsche Girozentrale Sells 2,513 Shares of Patterson Companies, Inc. (NASDAQ:PDCO)

DekaBank Deutsche Girozentrale reduced its stake in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 23.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 8,244 shares of the company’s stock after selling 2,513 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Patterson Companies were worth $233,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of PDCO. Money Concepts Capital Corp increased its position in shares of Patterson Companies by 195.7% during the fourth quarter. Money Concepts Capital Corp now owns 902 shares of the company’s stock worth $25,000 after acquiring an additional 597 shares in the last quarter. Quarry LP increased its holdings in Patterson Companies by 499.4% during the 1st quarter. Quarry LP now owns 1,001 shares of the company’s stock worth $27,000 after purchasing an additional 834 shares in the last quarter. Fifth Third Bancorp raised its stake in shares of Patterson Companies by 54.8% in the 3rd quarter. Fifth Third Bancorp now owns 1,226 shares of the company’s stock valued at $36,000 after purchasing an additional 434 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in shares of Patterson Companies by 27.0% in the 4th 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. Finally, Captrust Financial Advisors lifted its holdings in shares of Patterson Companies by 28.7% in the second quarter. Captrust Financial Advisors now owns 1,815 shares of the company’s stock valued at $55,000 after purchasing an additional 405 shares in the last quarter. Institutional investors own 85.43% of the company’s stock.

Patterson Companies Trading Up 1.1 %

PDCO opened at $25.63 on Wednesday. The company has a 50-day simple moving average of $27.31 and a 200 day simple moving average of $28.73. The stock has a market capitalization of $2.30 billion, a price-to-earnings ratio of 12.63, a P/E/G ratio of 1.34 and a beta of 1.06. The company has a quick ratio of 0.72, a current ratio of 1.43 and a debt-to-equity ratio of 0.46. Patterson Companies, Inc. has a twelve month low of $25.00 and a twelve month high of $34.53.

Patterson Companies (NASDAQ:PDCO) last issued its 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 business had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same period in the prior year, the business posted $0.62 EPS. The company’s revenue for the quarter was up .9% compared to the same quarter last year. Analysts predict that Patterson Companies, Inc. will post 2.32 EPS for the current fiscal year.

Patterson Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 3rd. Shareholders of record on Friday, April 19th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date is Thursday, April 18th. Patterson Companies’s dividend payout ratio is presently 51.23%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Piper Sandler downgraded Patterson Companies from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $34.00 to $28.00 in a report on Thursday, February 29th. JPMorgan Chase & Co. decreased their price target on shares of Patterson Companies from $31.00 to $30.00 and set a “neutral” rating for the company in a research note on Wednesday, March 6th. SVB Leerink began coverage on shares of Patterson Companies in a report on Monday, February 26th. They issued an “outperform” rating and a $36.00 price objective on the stock. Finally, Leerink Partnrs restated an “outperform” rating on shares of Patterson Companies in a report on Monday, February 26th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $33.11.

About Patterson Companies

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.