Mutual of America Capital Management LLC Sells 2,734 Shares of Patterson Companies, Inc. (NASDAQ:PDCO)

Mutual of America Capital Management LLC decreased its stake in Patterson Companies, Inc. (NASDAQ:PDCO) by 4.9% in the 4th quarter, Holdings Channel.com reports. The fund owned 52,617 shares of the company’s stock after selling 2,734 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Patterson Companies were worth $1,497,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of PDCO. Money Concepts Capital Corp grew its stake in shares of Patterson Companies by 195.7% in the fourth quarter. Money Concepts Capital Corp now owns 902 shares of the company’s stock valued at $25,000 after buying an additional 597 shares in the last quarter. Quarry LP lifted 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 during the last quarter. Fifth Third Bancorp grew its holdings in Patterson Companies by 54.8% during the third quarter. Fifth Third Bancorp now owns 1,226 shares of the company’s stock worth $36,000 after purchasing an additional 434 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Patterson Companies by 27.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,773 shares of the company’s stock worth $50,000 after acquiring an additional 377 shares during the period. Finally, Anchor Investment Management LLC bought a new position in Patterson Companies during the fourth quarter worth $55,000. Institutional investors and hedge funds own 85.43% of the company’s stock.

Wall Street Analyst Weigh In

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

Patterson Companies Trading Up 2.2 %

Shares of NASDAQ:PDCO opened at $26.02 on Monday. The business’s 50 day simple moving average is $27.13 and its 200 day simple moving average is $28.64. Patterson Companies, Inc. has a 1 year low of $25.00 and a 1 year high of $34.53. 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 company has a market capitalization of $2.33 billion, a P/E ratio of 12.82, a P/E/G ratio of 1.37 and a beta of 1.06.

Patterson Companies (NASDAQ:PDCO) last released 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 company had revenue of $1.62 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the previous year, the company posted $0.62 earnings per share. The business’s revenue was up .9% compared to the same quarter last year. On average, research analysts anticipate that Patterson Companies, Inc. will post 2.32 EPS for the current fiscal year.

Patterson Companies Dividend Announcement

The company also recently announced 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. This represents a $1.04 annualized dividend and a yield of 4.00%. The ex-dividend date of this dividend is Thursday, April 18th. Patterson Companies’s dividend payout ratio is currently 51.23%.

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.