Sasco Capital Inc. CT Sells 125,890 Shares of Patterson Companies, Inc. (NASDAQ:PDCO)

Sasco Capital Inc. CT lessened its holdings in Patterson Companies, Inc. (NASDAQ:PDCO) by 14.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 759,994 shares of the company’s stock after selling 125,890 shares during the period. Patterson Companies comprises 2.5% of Sasco Capital Inc. CT’s holdings, making the stock its 25th biggest holding. Sasco Capital Inc. CT’s holdings in Patterson Companies were worth $16,598,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Equity Investment Corp bought a new position in shares of Patterson Companies in the 2nd quarter valued at $37,935,000. Private Management Group Inc. raised its position in Patterson Companies by 268.5% in the second quarter. Private Management Group Inc. now owns 1,431,666 shares of the company’s stock valued at $34,532,000 after purchasing an additional 1,043,201 shares during the last quarter. Vanguard Group Inc. grew its holdings 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 purchasing an additional 730,819 shares during the last quarter. LSV Asset Management grew its holdings 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 purchasing an additional 515,299 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Patterson Companies by 83.6% in the second quarter. American Century Companies Inc. now owns 902,759 shares of the company’s stock valued at $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 Trading Up 5.8 %

Shares of PDCO stock opened at $20.90 on Tuesday. The company has a market cap of $1.84 billion, a P/E ratio of 11.42, a PEG ratio of 1.44 and a beta of 1.02. Patterson Companies, Inc. has a fifty-two week low of $19.45 and a fifty-two week high of $32.58. The stock has a 50 day simple moving average of $21.06 and a two-hundred day simple moving average of $23.19. 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 (NASDAQ:PDCO) last posted its quarterly earnings results on Wednesday, August 28th. The company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.08). Patterson Companies had a return on equity of 19.87% and a net margin of 2.58%. The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same quarter in the previous year, the business posted $0.40 earnings per share. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year. Research analysts forecast that Patterson Companies, Inc. will post 2.32 earnings per share for the current year.

Patterson Companies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Wednesday, October 16th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 4.98%. The ex-dividend date was Friday, October 18th. Patterson Companies’s dividend payout ratio (DPR) is currently 56.83%.

Analyst Upgrades and Downgrades

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

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.