Patterson Companies, Inc. (NASDAQ:PDCO) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp lessened its holdings in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 21.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 87,775 shares of the company’s stock after selling 24,330 shares during the quarter. Van ECK Associates Corp’s holdings in Patterson Companies were worth $2,497,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. River Road Asset Management LLC lifted its stake in shares of Patterson Companies by 1.8% in the third quarter. River Road Asset Management LLC now owns 2,692,700 shares of the company’s stock worth $79,812,000 after buying an additional 46,399 shares in the last quarter. Nordea Investment Management AB lifted its stake in 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 in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of 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 worth $49,735,000 after purchasing an additional 78,134 shares during the last quarter. LSV Asset Management grew its position in shares of Patterson Companies by 46.2% in the third 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Patterson Companies by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 780,633 shares of the company’s stock valued at $23,138,000 after purchasing an additional 5,187 shares during the last quarter. Institutional investors and hedge funds own 85.43% of the company’s stock.

Patterson Companies Stock Up 1.0 %

Patterson Companies stock opened at $26.02 on Wednesday. The company has a market capitalization of $2.33 billion, a PE ratio of 12.82, a price-to-earnings-growth ratio of 1.26 and a beta of 1.07. 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, Inc. has a fifty-two week low of $25.00 and a fifty-two week high of $34.53. The firm has a 50 day moving average price of $26.48 and a 200 day moving average price of $28.30.

Patterson Companies (NASDAQ:PDCO) last issued its quarterly earnings data on Wednesday, February 28th. The company reported $0.59 earnings per share 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 during the quarter, compared to analyst estimates of $1.63 billion. During the same period in the previous year, the firm posted $0.62 earnings per share. The company’s quarterly revenue was up .9% compared to the same quarter last year. Research analysts expect that Patterson Companies, Inc. will post 2.32 earnings per share for the current year.

Patterson Companies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 3rd. Shareholders of record on Friday, April 19th were paid a dividend of $0.26 per share. The ex-dividend date was 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 (DPR) is presently 51.23%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PDCO. Piper Sandler lowered Patterson Companies from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $34.00 to $28.00 in a research note on Thursday, February 29th. JPMorgan Chase & Co. lowered their price target 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. Evercore ISI cut their price objective 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, April 26th. SVB Leerink started coverage on shares of Patterson Companies in a report on Monday, February 26th. They issued an “outperform” rating and a $36.00 target price on the stock. Finally, Leerink Partnrs reiterated an “outperform” rating on shares of Patterson Companies in a research report on Monday, February 26th. Seven equities research 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 currently has an average rating of “Hold” and a consensus price target of $32.56.

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.