Rowlandmiller & PARTNERS.ADV Sells 3,300 Shares of Patterson Companies, Inc. (NASDAQ:PDCO)

Rowlandmiller & PARTNERS.ADV decreased its stake in Patterson Companies, Inc. (NASDAQ:PDCO) by 4.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 76,903 shares of the company’s stock after selling 3,300 shares during the period. Rowlandmiller & PARTNERS.ADV owned about 0.09% of Patterson Companies worth $1,680,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Equity Investment Corp acquired a new position in Patterson Companies in the 2nd quarter valued at approximately $37,935,000. Private Management Group Inc. increased its position in shares of Patterson Companies by 268.5% during the second quarter. Private Management Group Inc. now owns 1,431,666 shares of the company’s stock worth $34,532,000 after buying an additional 1,043,201 shares during the period. Vanguard Group Inc. increased its position in shares of Patterson Companies by 7.9% during the first quarter. Vanguard Group Inc. now owns 10,018,184 shares of the company’s stock worth $277,003,000 after buying an additional 730,819 shares during the period. LSV Asset Management increased its position in shares of Patterson Companies by 58.8% during the second quarter. LSV Asset Management now owns 1,391,344 shares of the company’s stock worth $33,559,000 after buying an additional 515,299 shares during the period. Finally, American Century Companies Inc. increased its position in shares of Patterson Companies by 83.6% during the second quarter. American Century Companies Inc. now owns 902,759 shares of the company’s stock worth $21,775,000 after buying an additional 411,012 shares during the period. Institutional investors own 85.43% of the company’s stock.

Patterson Companies Stock Performance

Shares of PDCO stock opened at $21.53 on Friday. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of 11.77, a P/E/G ratio of 1.55 and a beta of 1.02. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.67 and a current ratio of 1.30. Patterson Companies, Inc. has a 52 week low of $19.89 and a 52 week high of $32.58. The firm’s 50-day simple moving average is $21.88 and its two-hundred day simple moving average is $23.80.

Patterson Companies (NASDAQ:PDCO) last posted its earnings results on Wednesday, August 28th. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.08). The business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.59 billion. Patterson Companies had a return on equity of 19.87% and a net margin of 2.58%. Patterson Companies’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.40 EPS. As a group, equities analysts forecast that Patterson Companies, Inc. will post 2.33 earnings per share for the current year.

Patterson Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Wednesday, October 16th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, October 18th. This represents a $1.04 annualized dividend and a yield of 4.83%. Patterson Companies’s dividend payout ratio is currently 56.83%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Patterson Companies from $29.00 to $26.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. Bank of America reduced their price target on shares of Patterson Companies from $31.00 to $29.00 and set a “buy” rating for the company in a report on Thursday, August 29th. UBS Group reduced their price target on shares of Patterson Companies from $27.00 to $24.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Robert W. Baird dropped their price objective on shares of Patterson Companies from $30.00 to $28.00 and set a “neutral” rating on the stock in a research note on Thursday, August 29th. Finally, Evercore ISI dropped their price objective on shares of Patterson Companies from $23.00 to $22.00 and set an “in-line” rating on the stock in a research note on Tuesday, October 8th. Nine investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $28.30.

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.