US Bancorp DE lifted its holdings in shares of Patterson Companies, Inc. (NASDAQ:PDCO – Free Report) by 12.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,595 shares of the company’s stock after purchasing an additional 3,836 shares during the quarter. US Bancorp DE’s holdings in Patterson Companies were worth $899,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Money Concepts Capital Corp raised its holdings in Patterson Companies by 195.7% in the 4th quarter. Money Concepts Capital Corp now owns 902 shares of the company’s stock valued at $25,000 after acquiring an additional 597 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Patterson Companies by 27.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,773 shares of the company’s stock valued at $50,000 after buying an additional 377 shares in the last quarter. Captrust Financial Advisors lifted its holdings in shares of Patterson Companies by 28.7% during the 2nd quarter. Captrust Financial Advisors now owns 1,815 shares of the company’s stock worth $55,000 after acquiring an additional 405 shares during the period. Ronald Blue Trust Inc. boosted its position in shares of Patterson Companies by 20.1% during the 1st quarter. Ronald Blue Trust Inc. now owns 2,556 shares of the company’s stock worth $72,000 after acquiring an additional 427 shares in the last quarter. Finally, Point72 Middle East FZE bought a new position in Patterson Companies in the fourth quarter valued at approximately $97,000. 79.44% of the stock is currently owned by institutional investors.
Patterson Companies Stock Performance
NASDAQ PDCO opened at $33.78 on Wednesday. The company has a market capitalization of $3.23 billion, a price-to-earnings ratio of 15.93, a PEG ratio of 1.49 and a beta of 1.30. Patterson Companies, Inc. has a twelve month low of $23.87 and a twelve month high of $34.53. The stock has a fifty day simple moving average of $32.30 and a 200 day simple moving average of $28.93. The company has a quick ratio of 0.91, a current ratio of 1.64 and a debt-to-equity ratio of 0.40.
Patterson Companies (NASDAQ:PDCO – Get Free Report) last released its earnings results on Wednesday, June 21st. The company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.14. Patterson Companies had a net margin of 3.21% and a return on equity of 22.04%. The business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the prior year, the firm posted $0.71 EPS. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. Sell-side analysts expect that Patterson Companies, Inc. will post 2.5 EPS for the current year.
Patterson Companies Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 4th. Stockholders of record on Friday, July 21st were given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 3.08%. The ex-dividend date was Thursday, July 20th. Patterson Companies’s dividend payout ratio (DPR) is presently 49.06%.
Analyst Ratings Changes
A number of equities research analysts have weighed in on PDCO shares. Bank of America raised their target price on Patterson Companies from $35.00 to $40.00 in a report on Thursday, June 22nd. Robert W. Baird increased their target price on shares of Patterson Companies from $31.00 to $35.00 in a report on Thursday, June 22nd. StockNews.com raised shares of Patterson Companies from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 16th. Piper Sandler increased their price objective on shares of Patterson Companies from $35.00 to $39.00 in a research note on Thursday, June 22nd. Finally, Stifel Nicolaus upped their price target on shares of Patterson Companies from $30.00 to $32.00 in a report on Thursday, June 22nd. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.00.
Read Our Latest Report on Patterson Companies
Insider Activity at Patterson Companies
In other Patterson Companies news, insider Les B. Korsh sold 3,500 shares of Patterson Companies stock in a transaction that occurred on Wednesday, June 21st. The stock was sold at an average price of $31.75, for a total value of $111,125.00. Following the completion of the sale, the insider now directly owns 67,949 shares in the company, valued at $2,157,380.75. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Les B. Korsh sold 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 21st. The shares were sold at an average price of $31.75, for a total transaction of $111,125.00. Following the completion of the sale, the insider now owns 67,949 shares of the company’s stock, valued at approximately $2,157,380.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Les B. Korsh sold 908 shares of Patterson Companies stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $32.34, for a total transaction of $29,364.72. Following the completion of the sale, the insider now owns 74,265 shares of the company’s stock, valued at approximately $2,401,730.10. The disclosure for this sale can be found here. Insiders have sold a total of 15,380 shares of company stock worth $496,590 in the last 90 days. Corporate insiders own 1.50% of the company’s stock.
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.
Further Reading
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