Raymond James Financial Services Advisors Inc. Acquires 732 Shares of Patterson Companies, Inc. (NASDAQ:PDCO)

Raymond James Financial Services Advisors Inc. increased its holdings in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 4.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 15,532 shares of the company’s stock after buying an additional 732 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Patterson Companies were worth $442,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PDCO. Money Concepts Capital Corp boosted its stake 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 valued at $25,000 after purchasing an additional 597 shares in the last quarter. Quarry LP boosted its stake in Patterson Companies by 499.4% in the first quarter. Quarry LP now owns 1,001 shares of the company’s stock valued at $27,000 after acquiring an additional 834 shares in the last quarter. Fifth Third Bancorp boosted its stake in Patterson Companies by 54.8% in the third quarter. Fifth Third Bancorp now owns 1,226 shares of the company’s stock valued at $36,000 after acquiring an additional 434 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in 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 acquiring an additional 377 shares in the last quarter. Finally, Anchor Investment Management LLC acquired a new stake in Patterson Companies in the fourth quarter valued at approximately $55,000. 85.43% of the stock is currently owned by institutional investors.

Patterson Companies Trading Up 2.2 %

NASDAQ:PDCO opened at $26.02 on Friday. Patterson Companies, Inc. has a 12 month low of $25.00 and a 12 month high of $34.53. The firm has a fifty day simple moving average of $27.13 and a 200-day simple moving average of $28.65. The company has a current ratio of 1.43, a quick ratio of 0.72 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $2.33 billion, a P/E ratio of 12.82, a PEG ratio of 1.34 and a beta of 1.06.

Patterson Companies (NASDAQ:PDCO) last issued its earnings results 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 return on equity of 20.98% and a net margin of 2.95%. The business had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same period last year, the business earned $0.62 EPS. The company’s revenue for the quarter was up .9% on a year-over-year basis. On average, equities research analysts anticipate that Patterson Companies, Inc. will post 2.32 earnings per share for the current year.

Patterson Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 3rd. Shareholders of record on Friday, April 19th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $1.04 dividend on an annualized basis and a yield of 4.00%. Patterson Companies’s payout ratio is 51.23%.

Analysts Set New Price Targets

PDCO has been the subject of several recent analyst reports. 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 restated an “outperform” rating on shares of Patterson Companies in a research note on Monday, February 26th. Piper Sandler downgraded shares of Patterson Companies from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $34.00 to $28.00 in a research note on Thursday, February 29th. Finally, SVB Leerink initiated 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. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price 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.