Victory Capital Management Inc. Cuts Stock Position in Patterson Companies, Inc. (NASDAQ:PDCO)

Victory Capital Management Inc. cut its position in Patterson Companies, Inc. (NASDAQ:PDCO) by 19.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,026,684 shares of the company’s stock after selling 245,351 shares during the quarter. Victory Capital Management Inc. owned approximately 1.11% of Patterson Companies worth $29,209,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. River Road Asset Management LLC raised its stake in shares of Patterson Companies by 1.8% during the 3rd quarter. River Road Asset Management LLC now owns 2,692,700 shares of the company’s stock worth $79,812,000 after acquiring an additional 46,399 shares in the last quarter. Nordea Investment Management AB grew its holdings in Patterson Companies by 25.3% in the fourth quarter. Nordea Investment Management AB now owns 2,594,944 shares of the company’s stock worth $73,852,000 after purchasing an additional 523,226 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Patterson Companies by 4.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,748,158 shares of the company’s stock worth $49,735,000 after purchasing an additional 78,134 shares in the last quarter. LSV Asset Management lifted its holdings in shares of Patterson Companies by 46.2% during the 3rd quarter. LSV Asset Management now owns 915,345 shares of the company’s stock valued at $27,131,000 after purchasing an additional 289,100 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Patterson Companies by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 780,633 shares of the company’s stock worth $23,138,000 after purchasing an additional 5,187 shares in the last quarter. 85.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on PDCO. Evercore ISI reduced their target price on Patterson Companies from $28.00 to $27.00 and set an “in-line” rating on the stock in a research report on Friday, April 26th. JPMorgan Chase & Co. decreased their price objective on shares of Patterson Companies from $31.00 to $30.00 and set a “neutral” rating for the company in a research report on Wednesday, March 6th. Piper Sandler downgraded shares of Patterson Companies from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $34.00 to $28.00 in a research report on Thursday, February 29th. Leerink Partnrs reaffirmed an “outperform” rating on shares of Patterson Companies in a report on Monday, February 26th. Finally, SVB Leerink initiated coverage on shares of Patterson Companies in a report on Monday, February 26th. They set an “outperform” rating and a $36.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Patterson Companies presently has an average rating of “Hold” and an average price target of $32.56.

Patterson Companies Trading Up 1.0 %

Shares of Patterson Companies stock opened at $26.02 on Wednesday. The stock has a market cap of $2.33 billion, a PE ratio of 12.82, a price-to-earnings-growth ratio of 1.26 and a beta of 1.07. The firm has a fifty day moving average price of $26.48 and a 200 day moving average price of $28.30. Patterson Companies, Inc. has a 1 year low of $25.00 and a 1 year high of $34.53. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.43 and a quick ratio of 0.72.

Patterson Companies (NASDAQ:PDCO) last released its quarterly earnings data on Wednesday, February 28th. The company reported $0.59 earnings per share 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 company had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter in the previous year, the business posted $0.62 EPS. The business’s quarterly revenue was up .9% on a year-over-year basis. Equities research analysts predict that Patterson Companies, Inc. will post 2.32 earnings per share for the current year.

Patterson Companies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 3rd. Investors of record on Friday, April 19th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 4.00%. The ex-dividend date was Thursday, April 18th. Patterson Companies’s dividend payout ratio is currently 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.