Strs Ohio Raises Stock Position in Patterson Companies, Inc. (NASDAQ:PDCO)

Strs Ohio boosted its position in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 1.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 35,300 shares of the company’s stock after purchasing an additional 500 shares during the period. Strs Ohio’s holdings in Patterson Companies were worth $1,004,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of PDCO. Louisiana State Employees Retirement System purchased a new position in Patterson Companies in the 4th quarter worth approximately $680,000. Allspring Global Investments Holdings LLC grew its stake in Patterson Companies by 4.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,748,158 shares of the company’s stock worth $49,735,000 after buying an additional 78,134 shares in the last quarter. HBK Sorce Advisory LLC grew its stake in Patterson Companies by 4.8% in the 4th quarter. HBK Sorce Advisory LLC now owns 7,432 shares of the company’s stock worth $211,000 after buying an additional 341 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Patterson Companies by 1.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 39,075 shares of the company’s stock worth $1,112,000 after buying an additional 702 shares in the last quarter. Finally, Tritonpoint Wealth LLC purchased a new position in Patterson Companies in the 4th quarter worth approximately $249,000. Hedge funds and other institutional investors own 85.43% of the company’s stock.

Patterson Companies Trading Up 0.2 %

NASDAQ:PDCO opened at $25.97 on Wednesday. The company has a fifty day moving average of $27.03 and a 200 day moving average of $28.60. Patterson Companies, Inc. has a 52 week low of $25.00 and a 52 week high of $34.53. The company has a quick ratio of 0.72, a current ratio of 1.43 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $2.33 billion, a P/E ratio of 12.79, a P/E/G ratio of 1.37 and a beta of 1.06.

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

Patterson Companies Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms have commented on PDCO. Leerink Partnrs reissued an “outperform” rating on shares of Patterson Companies in a research note on Monday, February 26th. Piper Sandler cut shares of Patterson Companies from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $34.00 to $28.00 in a research note on Thursday, February 29th. 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 price objective for the company. Finally, JPMorgan Chase & Co. cut their price objective 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. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average 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.