Patterson Companies, Inc. (NASDAQ:PDCO) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC reduced its stake in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 9.2% in the 4th quarter, HoldingsChannel reports. The firm owned 21,981 shares of the company’s stock after selling 2,230 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Patterson Companies were worth $625,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Nordea Investment Management AB raised its position in shares of 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 purchasing an additional 523,226 shares during the last quarter. Sound Income Strategies LLC raised its position in shares of Patterson Companies by 22.2% during the 4th quarter. Sound Income Strategies LLC now owns 561,445 shares of the company’s stock worth $15,973,000 after purchasing an additional 101,860 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Patterson Companies by 8.3% during the 3rd quarter. AQR Capital Management LLC now owns 748,961 shares of the company’s stock worth $22,117,000 after purchasing an additional 57,550 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in Patterson Companies in the 3rd quarter worth approximately $1,765,000. Finally, FMR LLC grew its stake in Patterson Companies by 42.5% in the 3rd quarter. FMR LLC now owns 173,300 shares of the company’s stock worth $5,137,000 after acquiring an additional 51,697 shares during the period. 85.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Patterson Companies Stock Up 1.1 %

Shares of NASDAQ PDCO opened at $25.63 on Wednesday. Patterson Companies, Inc. has a 52-week low of $25.00 and a 52-week high of $34.53. The firm has a fifty day moving average of $27.31 and a 200-day moving average of $28.73. The stock has a market capitalization of $2.30 billion, a PE 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 (NASDAQ:PDCO) last announced its quarterly earnings data on Wednesday, February 28th. The company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.63 billion. During the same period in the prior year, the firm earned $0.62 earnings per share. The firm’s quarterly revenue was up .9% on a year-over-year basis. On average, analysts anticipate that Patterson Companies, Inc. will post 2.32 EPS for the current year.

Patterson Companies Dividend Announcement

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

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.