Federated Hermes Inc. Sells 1,296 Shares of Patterson Companies, Inc. (NASDAQ:PDCO)

Federated Hermes Inc. decreased its stake in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 21.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 4,611 shares of the company’s stock after selling 1,296 shares during the period. Federated Hermes Inc.’s holdings in Patterson Companies were worth $131,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Nordea Investment Management AB raised its position in shares of Patterson Companies by 25.3% in the fourth quarter. Nordea Investment Management AB now owns 2,594,944 shares of the company’s stock valued at $73,852,000 after purchasing an additional 523,226 shares during the period. Sound Income Strategies LLC grew its stake in Patterson Companies by 22.2% in the 4th quarter. Sound Income Strategies LLC now owns 561,445 shares of the company’s stock valued at $15,973,000 after buying an additional 101,860 shares during the last quarter. AQR Capital Management LLC raised its holdings in Patterson Companies by 8.3% in the 3rd quarter. AQR Capital Management LLC now owns 748,961 shares of the company’s stock worth $22,117,000 after acquiring an additional 57,550 shares during the period. Campbell & CO Investment Adviser LLC acquired a new position in Patterson Companies during the 3rd quarter worth $1,765,000. Finally, Toroso Investments LLC boosted its holdings in Patterson Companies by 15.0% during the third quarter. Toroso Investments LLC now owns 53,875 shares of the company’s stock valued at $1,597,000 after acquiring an additional 7,021 shares during the period. 85.43% of the stock is owned by institutional investors.

Patterson Companies Stock Up 0.4 %

Shares of PDCO opened at $25.76 on Tuesday. Patterson Companies, Inc. has a 12 month low of $25.00 and a 12 month high of $34.53. The stock has a market cap of $2.31 billion, a price-to-earnings ratio of 12.69, a P/E/G ratio of 1.26 and a beta of 1.07. The company has a 50-day moving average price of $26.54 and a two-hundred day moving average price of $28.33. The company has a quick ratio of 0.72, a current ratio of 1.43 and a debt-to-equity ratio of 0.46.

Patterson Companies (NASDAQ:PDCO) last posted its 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). 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 for the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter last year, the business earned $0.62 EPS. Patterson Companies’s quarterly revenue was up .9% compared to the same quarter last year. Equities analysts predict that Patterson Companies, Inc. will post 2.32 EPS for the current fiscal year.

Patterson Companies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 3rd. Investors of record on Friday, April 19th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 4.04%. The ex-dividend date of this dividend was Thursday, April 18th. Patterson Companies’s dividend payout ratio is currently 51.23%.

Analyst Upgrades and Downgrades

PDCO has been the topic of a number of recent analyst reports. Piper Sandler lowered Patterson Companies from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $34.00 to $28.00 in a research note on Thursday, February 29th. SVB Leerink began coverage on Patterson Companies in a report on Monday, February 26th. They set an “outperform” rating and a $36.00 price target for the company. Leerink Partnrs reissued an “outperform” rating on shares of Patterson Companies in a research report on Monday, February 26th. Evercore ISI dropped 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 report on Friday, April 26th. Finally, 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 report on Wednesday, March 6th. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Patterson Companies has an average rating of “Hold” and an average 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.