Patterson Companies, Inc. (NASDAQ:PDCO) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp trimmed its holdings in Patterson Companies, Inc. (NASDAQ:PDCO) by 9.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,700 shares of the company’s stock after selling 2,238 shares during the quarter. Mackenzie Financial Corp’s holdings in Patterson Companies were worth $589,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Fifth Third Bancorp boosted its stake in shares of Patterson Companies by 54.8% during the 3rd quarter. Fifth Third Bancorp now owns 1,226 shares of the company’s stock worth $36,000 after acquiring an additional 434 shares in the last quarter. Anchor Investment Management LLC acquired a new position in shares of Patterson Companies in the 4th quarter valued at $55,000. Huntington National Bank increased its stake in Patterson Companies by 57.0% in the 3rd quarter. Huntington National Bank now owns 2,737 shares of the company’s stock worth $81,000 after purchasing an additional 994 shares in the last quarter. International Assets Investment Management LLC raised its holdings in Patterson Companies by 5,021.0% during the 4th quarter. International Assets Investment Management LLC now owns 5,121 shares of the company’s stock worth $146,000 after buying an additional 5,021 shares during the period. Finally, WINTON GROUP Ltd purchased a new stake in Patterson Companies during the third quarter valued at about $206,000. Institutional investors own 85.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on PDCO shares. Leerink Partnrs reissued an “outperform” rating on shares of Patterson Companies in a research report on Monday, February 26th. Evercore ISI cut their target price on shares of Patterson Companies from $28.00 to $27.00 and set an “in-line” rating on the stock in a research note on Friday. Piper Sandler cut Patterson Companies from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $34.00 to $28.00 in a research report on Thursday, February 29th. SVB Leerink initiated coverage on Patterson Companies in a research report on Monday, February 26th. They set an “outperform” rating and a $36.00 price target on the stock. Finally, JPMorgan Chase & Co. decreased their price objective on Patterson Companies from $31.00 to $30.00 and set a “neutral” rating for the company in a research report on Wednesday, March 6th. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $32.56.

Patterson Companies Stock Performance

Shares of NASDAQ PDCO opened at $25.77 on Friday. 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 one year low of $25.00 and a one year high of $34.53. The business’s 50-day moving average price is $26.88 and its two-hundred day moving average price is $28.54. The company has a market capitalization of $2.31 billion, a P/E ratio of 12.69, a price-to-earnings-growth ratio of 1.37 and a beta of 1.06.

Patterson Companies (NASDAQ:PDCO) last announced its quarterly earnings results on Wednesday, February 28th. The company reported $0.59 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.01). The firm had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.63 billion. Patterson Companies had a net margin of 2.95% and a return on equity of 20.98%. The company’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.62 EPS. Analysts anticipate that Patterson Companies, Inc. will post 2.32 earnings per share for the current fiscal year.

Patterson Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 3rd. Stockholders 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 dividend yield of 4.04%. Patterson Companies’s dividend payout ratio is currently 51.23%.

About Patterson Companies

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.