Patterson Companies, Inc. (NASDAQ:PDCO) Shares Sold by Foundry Partners LLC

Foundry Partners LLC trimmed its holdings in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 12.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,317 shares of the company’s stock after selling 2,090 shares during the period. Foundry Partners LLC’s holdings in Patterson Companies were worth $407,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Nordea Investment Management AB increased its stake in shares of Patterson Companies by 25.3% during 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. Sound Income Strategies LLC increased its stake in shares of Patterson Companies by 22.2% during the 4th quarter. Sound Income Strategies LLC now owns 561,445 shares of the company’s stock worth $15,973,000 after purchasing an additional 101,860 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Patterson Companies by 8.3% during the 3rd quarter. AQR Capital Management LLC now owns 748,961 shares of the company’s stock worth $22,117,000 after purchasing an additional 57,550 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in shares of Patterson Companies during the 3rd quarter worth approximately $1,765,000. Finally, FMR LLC increased its stake in shares of Patterson Companies by 42.5% during the 3rd quarter. FMR LLC now owns 173,300 shares of the company’s stock worth $5,137,000 after purchasing an additional 51,697 shares in the last quarter. 85.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Leerink Partnrs reissued an “outperform” rating on shares of Patterson Companies in a research note on Monday, February 26th. JPMorgan Chase & Co. lowered their target price 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 cut shares of Patterson Companies from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $34.00 to $28.00 in a research note on Thursday, February 29th. Finally, SVB Leerink started coverage on shares of Patterson Companies in a research note on Monday, February 26th. They issued an “outperform” rating and a $36.00 target price for the company. Six research analysts have rated the stock with a hold rating and two have given 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 $33.11.

Patterson Companies Stock Down 0.4 %

Shares of PDCO opened at $25.91 on Tuesday. The firm has a market cap of $2.32 billion, a PE ratio of 12.76, a price-to-earnings-growth ratio of 1.37 and a beta of 1.06. The company’s fifty day moving average is $27.07 and its two-hundred day moving average is $28.62. Patterson Companies, Inc. has a fifty-two week low of $25.00 and a fifty-two week high of $34.53. 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 announced its quarterly earnings results 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). The company had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.63 billion. Patterson Companies had a net margin of 2.95% and a return on equity of 20.98%. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter last year, the business earned $0.62 EPS. Analysts forecast that Patterson Companies, Inc. will post 2.32 earnings per share for the current year.

Patterson Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 3rd. Shareholders of record on Friday, April 19th will be issued a $0.26 dividend. The ex-dividend date is Thursday, April 18th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.01%. Patterson Companies’s dividend payout ratio (DPR) is presently 51.23%.

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.