Russell Investments Group Ltd. Decreases Stock Holdings in Patterson Companies, Inc. (NASDAQ:PDCO)

Russell Investments Group Ltd. trimmed its position in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 79.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,554 shares of the company’s stock after selling 14,022 shares during the period. Russell Investments Group Ltd.’s holdings in Patterson Companies were worth $101,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of PDCO. GAMMA Investing LLC bought a new position in Patterson Companies during the 4th quarter valued at approximately $32,000. Fifth Third Bancorp increased its stake in shares of Patterson Companies by 54.8% during the third quarter. Fifth Third Bancorp now owns 1,226 shares of the company’s stock valued at $36,000 after buying an additional 434 shares during the period. Anchor Investment Management LLC bought a new position in shares of Patterson Companies during the fourth quarter valued at approximately $55,000. Signaturefd LLC lifted its stake in Patterson Companies by 93.5% in the fourth quarter. Signaturefd LLC now owns 2,107 shares of the company’s stock worth $60,000 after acquiring an additional 1,018 shares during the period. Finally, Huntington National Bank boosted its holdings in Patterson Companies by 57.0% in the third quarter. Huntington National Bank now owns 2,737 shares of the company’s stock valued at $81,000 after acquiring an additional 994 shares in the last quarter. 85.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Evercore ISI dropped their target price on shares of Patterson Companies from $28.00 to $27.00 and set an “in-line” rating for the company in a research report on Friday, April 26th. Piper Sandler lowered shares of Patterson Companies from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $34.00 to $28.00 in a report on Thursday, February 29th. Bank of America reduced their target price on Patterson Companies from $34.00 to $32.00 and set a “buy” rating on the stock in a report on Monday. StockNews.com cut Patterson Companies from a “buy” rating to a “hold” rating in a research note on Monday. Finally, Leerink Partnrs restated an “outperform” rating on shares of Patterson Companies in a research report on Monday, February 26th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Patterson Companies presently has a consensus rating of “Hold” and an average price target of $31.67.

Patterson Companies Stock Performance

Patterson Companies stock opened at $23.81 on Friday. Patterson Companies, Inc. has a twelve month low of $23.63 and a twelve month 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. The company has a market capitalization of $2.13 billion, a P/E ratio of 11.73, a PEG ratio of 2.02 and a beta of 1.07. The stock’s 50 day moving average is $26.08 and its 200 day moving average is $27.90.

Patterson Companies (NASDAQ:PDCO) last released its earnings results on Wednesday, February 28th. The company reported $0.59 EPS 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 analysts’ expectations of $1.63 billion. Patterson Companies had a return on equity of 20.98% and a net margin of 2.95%. The company’s revenue was up .9% on a year-over-year basis. During the same period in the prior year, the company posted $0.62 earnings per share. On average, equities research analysts predict that Patterson Companies, Inc. will post 2.32 earnings per share for the current fiscal year.

Patterson Companies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 3rd. Stockholders of record on Friday, April 19th were paid a $0.26 dividend. The ex-dividend date was Thursday, April 18th. This represents a $1.04 annualized dividend and a dividend yield of 4.37%. Patterson Companies’s dividend payout ratio is presently 51.23%.

Patterson Companies Company 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.