Dimensional Fund Advisors LP increased its stake in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 6.9% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 1,151,446 shares of the company’s stock after acquiring an additional 74,049 shares during the period. Dimensional Fund Advisors LP owned approximately 1.20% of Patterson Companies worth $44,504,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Patterson Companies by 0.6% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,625,632 shares of the company’s stock valued at $62,831,000 after acquiring an additional 9,343 shares during the last quarter. Shapiro Capital Management LLC boosted its position in Patterson Companies by 7.4% during the 2nd quarter. Shapiro Capital Management LLC now owns 1,539,410 shares of the company’s stock worth $72,275,000 after acquiring an additional 105,950 shares during the period. Gamco Investors INC. ET AL boosted its position in Patterson Companies by 11.4% during the 3rd quarter. Gamco Investors INC. ET AL now owns 1,421,850 shares of the company’s stock worth $54,955,000 after acquiring an additional 145,668 shares during the period. FMR LLC boosted its position in Patterson Companies by 5.7% during the 2nd quarter. FMR LLC now owns 1,400,718 shares of the company’s stock worth $65,763,000 after acquiring an additional 75,354 shares during the period. Finally, Royal Bank of Canada boosted its position in Patterson Companies by 0.9% during the 2nd quarter. Royal Bank of Canada now owns 1,005,124 shares of the company’s stock worth $47,190,000 after acquiring an additional 8,644 shares during the period. 94.12% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have issued reports on PDCO shares. Morgan Stanley started coverage on Patterson Companies in a research report on Thursday, September 21st. They set an “equal weight” rating and a $42.00 price target for the company. Stifel Nicolaus upgraded Patterson Companies from a “sell” rating to a “hold” rating and set a $34.00 price target for the company in a research report on Wednesday, November 15th. Robert W. Baird reiterated a “buy” rating and set a $44.00 price target on shares of Patterson Companies in a research report on Tuesday, September 26th. Deutsche Bank started coverage on Patterson Companies in a research report on Friday, December 8th. They set a “hold” rating and a $37.00 price target for the company. Finally, Piper Jaffray Companies started coverage on Patterson Companies in a report on Thursday, October 19th. They issued a “neutral” rating and a $41.00 price objective for the company. Three analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $40.23.
Shares of Patterson Companies, Inc. (NASDAQ:PDCO) opened at $37.51 on Tuesday. Patterson Companies, Inc. has a fifty-two week low of $32.07 and a fifty-two week high of $48.29. The company has a market capitalization of $3,556.85, a price-to-earnings ratio of 22.46, a PEG ratio of 2.11 and a beta of 0.95. The company has a current ratio of 1.94, a quick ratio of 1.10 and a debt-to-equity ratio of 0.73.
Patterson Companies (NASDAQ:PDCO) last announced its earnings results on Tuesday, November 21st. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.03). Patterson Companies had a net margin of 2.84% and a return on equity of 15.19%. The company had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same period in the prior year, the company earned $0.56 earnings per share. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. sell-side analysts anticipate that Patterson Companies, Inc. will post 2.1 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 26th. Stockholders of record on Friday, January 12th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 2.77%. The ex-dividend date of this dividend is Thursday, January 11th. Patterson Companies’s dividend payout ratio is 62.28%.
Patterson Companies Profile
Patterson Companies, Inc is a value-added distributor focused on providing a customer experience to professionals in the dental and animal health markets. The Company operates through three segments: dental, animal health and corporate. Dental and Animal health are strategic business units that offer similar products and services to different customer bases.
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