Louisiana State Employees Retirement System Invests $680,000 in Patterson Companies, Inc. (NASDAQ:PDCO)

Louisiana State Employees Retirement System bought a new position in Patterson Companies, Inc. (NASDAQ:PDCO) during the fourth quarter, Holdings Channel.com reports. The firm bought 23,900 shares of the company’s stock, valued at approximately $680,000.

A number of other hedge funds also recently modified their holdings of PDCO. Nordea Investment Management AB raised 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 worth $73,852,000 after purchasing an additional 523,226 shares during the period. LSV Asset Management raised its holdings in Patterson Companies by 46.2% during the 3rd quarter. LSV Asset Management now owns 915,345 shares of the company’s stock valued at $27,131,000 after acquiring an additional 289,100 shares during the period. Alps Advisors Inc. bought a new stake in Patterson Companies during the 3rd quarter valued at $5,525,000. Sound Income Strategies LLC raised its holdings in Patterson Companies by 22.2% during the 4th quarter. Sound Income Strategies LLC now owns 561,445 shares of the company’s stock valued at $15,973,000 after acquiring an additional 101,860 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in Patterson Companies by 4.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,748,158 shares of the company’s stock valued at $49,735,000 after acquiring an additional 78,134 shares during the period. Institutional investors own 85.43% of the company’s stock.

Patterson Companies Stock Down 0.1 %

Shares of NASDAQ:PDCO opened at $25.77 on Monday. Patterson Companies, Inc. has a 52-week low of $25.00 and a 52-week high of $34.53. The firm has a fifty day moving average of $26.88 and a 200 day moving average of $28.52. The firm has a market capitalization of $2.31 billion, a PE ratio of 12.69, a price-to-earnings-growth ratio of 1.35 and a beta of 1.06. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.72 and a current ratio of 1.43.

Patterson Companies (NASDAQ:PDCO) last announced 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 company had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter last year, the firm posted $0.62 earnings per share. The firm’s revenue was up .9% on a year-over-year basis. As a group, research analysts anticipate that Patterson Companies, Inc. will post 2.32 EPS 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. Shareholders of record on Friday, April 19th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $1.04 annualized dividend and a yield of 4.04%. Patterson Companies’s payout ratio is 51.23%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Piper Sandler cut 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 report on Thursday, February 29th. SVB Leerink initiated coverage on shares of Patterson Companies in a report on Monday, February 26th. They set an “outperform” rating and a $36.00 target price on the stock. JPMorgan Chase & Co. reduced their price target on shares of Patterson Companies from $31.00 to $30.00 and set a “neutral” rating for the company in a research report on Wednesday, March 6th. Evercore ISI reduced their price target on shares of Patterson Companies from $28.00 to $27.00 and set an “in-line” rating for the company in a research report on Friday. Finally, Leerink Partnrs restated an “outperform” rating on shares of Patterson Companies in a research report on Monday, February 26th. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $32.56.

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.