Patterson Companies, Inc. (NASDAQ:PDCO) to Issue Quarterly Dividend of $0.26

Patterson Companies, Inc. (NASDAQ:PDCO) declared a quarterly dividend on Monday, March 11th, Zacks reports. Investors of record on Friday, April 19th will be paid a dividend of 0.26 per share on Friday, May 3rd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.06%. The ex-dividend date is Thursday, April 18th.

Patterson Companies has a payout ratio of 39.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Patterson Companies to earn $2.48 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 41.9%.

Patterson Companies Stock Up 1.1 %

Shares of NASDAQ PDCO opened at $25.63 on Wednesday. Patterson Companies has a 52 week low of $25.00 and a 52 week high of $34.53. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.72 and a current ratio of 1.43. The stock’s fifty day moving average is $27.31 and its 200 day moving average is $28.73. The stock has a market capitalization of $2.30 billion, a P/E ratio of 12.63, a PEG ratio of 1.33 and a beta of 1.06.

Patterson Companies (NASDAQ:PDCO) last released its earnings results on Wednesday, February 28th. The company reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). Patterson Companies had a net margin of 2.95% and a return on equity of 20.98%. The business had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the prior year, the firm earned $0.62 EPS. The business’s revenue was up .9% on a year-over-year basis. Sell-side analysts forecast that Patterson Companies will post 2.32 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently commented on the company. SVB Leerink assumed coverage on Patterson Companies in a research note on Monday, February 26th. They set an “outperform” rating and a $36.00 price target on the stock. JPMorgan Chase & Co. cut their price target on Patterson Companies from $31.00 to $30.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 6th. Leerink Partnrs reissued an “outperform” rating on shares of Patterson Companies in a research note on Monday, February 26th. Finally, Piper Sandler lowered Patterson Companies from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $34.00 to $28.00 in a research note on Thursday, February 29th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Patterson Companies currently has an average rating of “Hold” and a consensus target price of $33.11.

Institutional Investors Weigh In On Patterson Companies

Hedge funds and other institutional investors have recently modified their holdings of the company. Money Concepts Capital Corp increased its holdings in shares of Patterson Companies by 195.7% during the fourth quarter. Money Concepts Capital Corp now owns 902 shares of the company’s stock valued at $25,000 after acquiring an additional 597 shares in the last quarter. Quarry LP increased its holdings in shares of Patterson Companies by 499.4% during the first quarter. Quarry LP now owns 1,001 shares of the company’s stock valued at $27,000 after acquiring an additional 834 shares in the last quarter. KBC Group NV bought a new stake in Patterson Companies during the fourth quarter worth $32,000. Northwestern Mutual Wealth Management Co. grew its holdings in Patterson Companies by 27.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,773 shares of the company’s stock worth $50,000 after buying an additional 377 shares in the last quarter. Finally, Captrust Financial Advisors grew its holdings in Patterson Companies by 28.7% during the second quarter. Captrust Financial Advisors now owns 1,815 shares of the company’s stock worth $55,000 after buying an additional 405 shares in the last quarter. Institutional investors own 85.43% of the company’s stock.

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.