MetLife Investment Advisors LLC boosted its stake in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 99.7% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 50,890 shares of the company’s stock after buying an additional 25,405 shares during the quarter. MetLife Investment Advisors LLC’s holdings in Patterson Companies were worth $1,131,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. BlackRock Inc. lifted its holdings in Patterson Companies by 33.9% during the 1st quarter. BlackRock Inc. now owns 6,856,469 shares of the company’s stock worth $152,419,000 after buying an additional 1,734,138 shares during the period. Fairpointe Capital LLC lifted its holdings in Patterson Companies by 5.7% during the 4th quarter. Fairpointe Capital LLC now owns 3,974,188 shares of the company’s stock worth $143,588,000 after buying an additional 213,341 shares during the period. Thompson Siegel & Walmsley LLC lifted its holdings in Patterson Companies by 90.5% during the 1st quarter. Thompson Siegel & Walmsley LLC now owns 1,934,238 shares of the company’s stock worth $42,998,000 after buying an additional 918,887 shares during the period. Gamco Investors INC. ET AL lifted its holdings in Patterson Companies by 28.2% during the 1st quarter. Gamco Investors INC. ET AL now owns 1,710,630 shares of the company’s stock worth $38,027,000 after buying an additional 376,747 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Patterson Companies by 14.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,687,216 shares of the company’s stock worth $37,507,000 after buying an additional 211,678 shares during the period. 90.27% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have commented on PDCO shares. BidaskClub downgraded Patterson Companies from a “sell” rating to a “strong sell” rating in a report on Saturday, June 2nd. Craig Hallum raised Patterson Companies from a “hold” rating to a “buy” rating in a report on Friday, April 6th. JPMorgan Chase & Co. cut their target price on Patterson Companies from $36.00 to $26.00 and set an “underweight” rating on the stock in a report on Monday, March 5th. Stifel Nicolaus cut their target price on Patterson Companies from $28.00 to $23.00 and set a “hold” rating on the stock in a report on Monday, June 18th. Finally, Morgan Stanley lifted their target price on Patterson Companies from $20.00 to $21.00 and gave the stock an “underweight” rating in a report on Friday. Seven research analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $31.78.
Patterson Companies opened at $24.62 on Monday, Marketbeat.com reports. Patterson Companies, Inc. has a 1-year low of $20.57 and a 1-year high of $48.29. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.95 and a quick ratio of 1.00. The stock has a market capitalization of $2.20 billion, a PE ratio of 14.65, a price-to-earnings-growth ratio of 2.18 and a beta of 1.12.
Patterson Companies (NASDAQ:PDCO) last posted its quarterly earnings data on Thursday, June 21st. The company reported $0.30 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.30. Patterson Companies had a return on equity of 11.05% and a net margin of 3.68%. The firm had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same period last year, the company posted $0.69 EPS. The business’s quarterly revenue was down 3.1% on a year-over-year basis. analysts expect that Patterson Companies, Inc. will post 1.74 earnings per share for the current year.
Patterson Companies announced that its Board of Directors has approved a share repurchase plan on Tuesday, March 13th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 27th. Stockholders of record on Friday, July 13th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 4.22%. The ex-dividend date is Thursday, July 12th. Patterson Companies’s dividend payout ratio (DPR) is presently 61.90%.
Patterson Companies Profile
Patterson Companies, Inc distributes and sells dental and animal health products in the United States, the United Kingdom, and Canada. It operates through Dental and Animal Health segments. The company's Dental segment offers consumable products, such as infection control, restorative materials, hand instruments, and sterilization products; basic and advanced technology dental equipment; patient education systems; and office forms and stationery.
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