Mirae Asset Global Investments Co. Ltd. Purchases 702 Shares of Patterson Companies, Inc. (NASDAQ:PDCO)

Mirae Asset Global Investments Co. Ltd. grew its position in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 1.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 39,075 shares of the company’s stock after acquiring an additional 702 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Patterson Companies were worth $1,112,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. River Road Asset Management LLC lifted its position in Patterson Companies by 1.8% during the third quarter. River Road Asset Management LLC now owns 2,692,700 shares of the company’s stock valued at $79,812,000 after purchasing an additional 46,399 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of Patterson Companies by 25.3% in the 4th quarter. Nordea Investment Management AB now owns 2,594,944 shares of the company’s stock valued at $73,852,000 after acquiring an additional 523,226 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in Patterson Companies by 3.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,670,024 shares of the company’s stock worth $49,500,000 after acquiring an additional 61,940 shares in the last quarter. Brown Advisory Inc. increased its stake in Patterson Companies by 2.6% during the third quarter. Brown Advisory Inc. now owns 1,390,876 shares of the company’s stock worth $41,226,000 after acquiring an additional 34,958 shares during the last quarter. Finally, LSV Asset Management lifted its stake in shares of Patterson Companies by 46.2% in the 3rd quarter. LSV Asset Management now owns 915,345 shares of the company’s stock valued at $27,131,000 after purchasing an additional 289,100 shares during the last quarter. 85.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Patterson Companies Price Performance

Patterson Companies stock opened at $25.91 on Tuesday. The firm has a 50-day moving average of $27.07 and a two-hundred day moving average of $28.62. 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, Inc. has a 1 year low of $25.00 and a 1 year high of $34.53. The stock has a market cap of $2.32 billion, a price-to-earnings ratio of 12.76, a price-to-earnings-growth ratio of 1.37 and a beta of 1.06.

Patterson Companies (NASDAQ:PDCO) last released its quarterly earnings data on Wednesday, February 28th. The company reported $0.59 earnings per share 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 firm had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the previous year, the firm earned $0.62 earnings per share. The business’s revenue was up .9% compared to the same quarter last year. On average, research analysts forecast that Patterson Companies, Inc. will post 2.32 earnings per share for the current year.

Patterson Companies Announces Dividend

The business 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 dividend of $0.26 per share. The ex-dividend date is Thursday, April 18th. This represents a $1.04 annualized dividend and a yield of 4.01%. Patterson Companies’s dividend payout ratio (DPR) is presently 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.