Continental Advisors LLC lowered its stake in Patterson Companies, Inc. (NASDAQ:PDCO) by 12.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,583 shares of the company’s stock after selling 7,500 shares during the period. Continental Advisors LLC owned approximately 0.05% of Patterson Companies worth $1,680,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Mascoma Wealth Management LLC bought a new stake in Patterson Companies in the first quarter worth about $26,000. Captrust Financial Advisors raised its stake in shares of Patterson Companies by 391.2% during the first quarter. Captrust Financial Advisors now owns 835 shares of the company’s stock valued at $27,000 after acquiring an additional 665 shares in the last quarter. Harvest Fund Management Co. Ltd raised its stake in shares of Patterson Companies by 89.5% during the first quarter. Harvest Fund Management Co. Ltd now owns 991 shares of the company’s stock valued at $31,000 after acquiring an additional 468 shares in the last quarter. Steward Partners Investment Advisory LLC raised its stake in shares of Patterson Companies by 500.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,200 shares of the company’s stock valued at $36,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Fieldpoint Private Securities LLC bought a new stake in shares of Patterson Companies during the first quarter valued at approximately $69,000. Institutional investors own 85.38% of the company’s stock.
Several research firms have recently weighed in on PDCO. Robert W. Baird decreased their price target on shares of Patterson Companies from $37.00 to $35.00 and set a “neutral” rating for the company in a research note on Thursday, June 24th. TheStreet raised shares of Patterson Companies from a “c” rating to a “b” rating in a research note on Wednesday, June 23rd. Finally, Piper Sandler reduced their price objective on shares of Patterson Companies from $44.00 to $41.00 and set an “overweight” rating for the company in a research note on Wednesday, June 23rd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $33.00.
NASDAQ PDCO traded down $0.56 on Thursday, hitting $29.93. The stock had a trading volume of 23,479 shares, compared to its average volume of 1,532,726. The business has a fifty day moving average of $32.86. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.81 and a current ratio of 1.48. Patterson Companies, Inc. has a 52-week low of $22.15 and a 52-week high of $37.37. The company has a market capitalization of $2.90 billion, a PE ratio of 18.94, a price-to-earnings-growth ratio of 1.46 and a beta of 1.60.
Patterson Companies (NASDAQ:PDCO) last released its quarterly earnings results on Tuesday, June 22nd. The company reported $0.38 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.14). The firm had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Patterson Companies had a return on equity of 20.29% and a net margin of 2.64%. Patterson Companies’s revenue for the quarter was up 21.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.43 earnings per share. On average, analysts predict that Patterson Companies, Inc. will post 2.01 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 6th. Investors of record on Friday, July 23rd will be given a dividend of $0.26 per share. The ex-dividend date is Thursday, July 22nd. This represents a $1.04 dividend on an annualized basis and a yield of 3.47%. Patterson Companies’s dividend payout ratio is presently 54.45%.
About Patterson Companies
Patterson Companies, Inc distributes and sells dental and animal health products in the United States, the United Kingdom, and Canada. It operates through three segments; Dental, Animal Health, and Corporate segments. The Dental segment offers consumable products, including infection control, restorative materials, hand instruments, and sterilization products; basic and advanced technology dental equipment; technology solutions, such as practice management software and e-commerce solutions; patient education systems; and office forms and stationery.
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