LSV Asset Management acquired a new stake in shares of Patterson Companies, Inc. (NASDAQ:PDCO) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 384,487 shares of the company’s stock, valued at approximately $13,891,000.
Several other institutional investors and hedge funds have also recently made changes to their positions in PDCO. Alyeska Investment Group L.P. purchased a new position in Patterson Companies during the third quarter worth approximately $2,961,000. FMR LLC raised its stake in Patterson Companies by 5.7% during the second quarter. FMR LLC now owns 1,400,718 shares of the company’s stock worth $65,763,000 after purchasing an additional 75,354 shares during the period. Nomura Holdings Inc. purchased a new position in Patterson Companies during the second quarter worth approximately $287,000. Gateway Investment Advisers LLC raised its stake in Patterson Companies by 4.7% during the fourth quarter. Gateway Investment Advisers LLC now owns 172,996 shares of the company’s stock worth $6,250,000 after purchasing an additional 7,795 shares during the period. Finally, Heartland Advisors Inc. raised its stake in Patterson Companies by 11.1% during the third quarter. Heartland Advisors Inc. now owns 246,086 shares of the company’s stock worth $9,511,000 after purchasing an additional 24,612 shares during the period. 93.63% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have weighed in on PDCO. Zacks Investment Research raised shares of Patterson Companies from a “sell” rating to a “hold” rating in a research note on Monday, October 23rd. Piper Jaffray Companies began coverage on shares of Patterson Companies in a research note on Thursday, October 19th. They set a “neutral” rating and a $41.00 price target on the stock. BidaskClub raised shares of Patterson Companies from a “sell” rating to a “hold” rating in a research note on Tuesday, January 16th. Evercore ISI began coverage on shares of Patterson Companies in a research note on Thursday, January 4th. They set an “in-line” rating and a $38.50 price target on the stock. Finally, Morgan Stanley downgraded shares of Patterson Companies from an “equal weight” rating to an “underweight” rating and set a $42.00 price target on the stock. in a research note on Wednesday, December 6th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $40.29.
Patterson Companies, Inc. (PDCO) opened at $33.15 on Friday. Patterson Companies, Inc. has a one year low of $32.07 and a one year high of $48.29. The company has a quick ratio of 1.10, a current ratio of 1.94 and a debt-to-equity ratio of 0.73. The company has a market cap of $3,117.81, a price-to-earnings ratio of 14.81, a PEG ratio of 1.84 and a beta of 0.89.
Patterson Companies (NASDAQ:PDCO) last issued its earnings results on Tuesday, November 21st. The company reported $0.51 EPS for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.03). Patterson Companies had a net margin of 2.84% and a return on equity of 15.19%. The business had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same period in the prior year, the business posted $0.56 EPS. The business’s revenue was down 2.3% on a year-over-year basis. sell-side analysts forecast that Patterson Companies, Inc. will post 2.11 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, January 26th. Stockholders of record on Friday, January 12th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date was Thursday, January 11th. Patterson Companies’s dividend payout ratio is presently 62.28%.
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About Patterson Companies
Patterson Companies, Inc is a value-added distributor focused on providing a customer experience to professionals in the dental and animal health markets. The Company operates through three segments: dental, animal health and corporate. Dental and Animal health are strategic business units that offer similar products and services to different customer bases.
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