Victory Capital Management Inc. Trims Position in Patterson Companies, Inc. (NASDAQ:PDCO)

Victory Capital Management Inc. reduced its position in Patterson Companies, Inc. (NASDAQ:PDCO) by 19.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,026,684 shares of the company’s stock after selling 245,351 shares during the period. Victory Capital Management Inc.’s holdings in Patterson Companies were worth $29,209,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. GAMMA Investing LLC purchased a new stake in shares of Patterson Companies in the fourth quarter valued at $32,000. Fifth Third Bancorp boosted its stake in Patterson Companies by 54.8% in the 3rd quarter. Fifth Third Bancorp now owns 1,226 shares of the company’s stock worth $36,000 after buying an additional 434 shares during the last quarter. Anchor Investment Management LLC purchased a new stake in Patterson Companies in the 4th quarter valued at about $55,000. Signaturefd LLC increased its stake in shares of Patterson Companies by 93.5% during the 4th quarter. Signaturefd LLC now owns 2,107 shares of the company’s stock valued at $60,000 after acquiring an additional 1,018 shares during the last quarter. Finally, Huntington National Bank lifted its holdings in shares of Patterson Companies by 57.0% during the 3rd quarter. Huntington National Bank now owns 2,737 shares of the company’s stock worth $81,000 after acquiring an additional 994 shares during the period. 85.43% of the stock is currently owned by institutional investors and hedge funds.

Patterson Companies Trading Up 1.0 %

NASDAQ:PDCO opened at $26.02 on Wednesday. The firm 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 current ratio of 1.43 and a quick ratio of 0.72. Patterson Companies, Inc. has a 12 month low of $25.00 and a 12 month high of $34.53. The business’s 50-day moving average is $26.48 and its two-hundred day moving average is $28.30.

Patterson Companies (NASDAQ:PDCO) last posted its quarterly earnings data 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). The business had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Patterson Companies had a return on equity of 20.98% and a net margin of 2.95%. Patterson Companies’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.62 earnings per share. Research analysts predict that Patterson Companies, Inc. will post 2.32 earnings per share for the current fiscal year.

Patterson Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 3rd. Investors of record on Friday, April 19th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 4.00%. The ex-dividend date of this dividend was Thursday, April 18th. Patterson Companies’s dividend payout ratio (DPR) is presently 51.23%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on PDCO shares. Evercore ISI lowered their target price on shares of Patterson Companies from $28.00 to $27.00 and set an “in-line” rating for the company in a report on Friday, April 26th. JPMorgan Chase & Co. lowered 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. Piper Sandler lowered Patterson Companies from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $34.00 to $28.00 in a research report on Thursday, February 29th. SVB Leerink started coverage on 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 restated an “outperform” rating on shares of Patterson Companies in a report on Monday, February 26th. Seven 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, the company has an average rating of “Hold” and an average target price 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.