Martingale Asset Management L P Acquires New Holdings in Patterson Companies, Inc. (NASDAQ:PDCO)

Martingale Asset Management L P acquired a new stake in shares of Patterson Companies, Inc. (NASDAQ:PDCOGet Rating) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 8,100 shares of the company’s stock, valued at approximately $246,000.

Several other institutional investors also recently bought and sold shares of PDCO. Truist Financial Corp acquired a new stake in Patterson Companies in the first quarter valued at approximately $218,000. SG Americas Securities LLC boosted its stake in Patterson Companies by 510.6% in the first quarter. SG Americas Securities LLC now owns 37,849 shares of the company’s stock valued at $1,225,000 after acquiring an additional 31,650 shares in the last quarter. Mutual of America Capital Management LLC boosted its stake in Patterson Companies by 2.1% in the first quarter. Mutual of America Capital Management LLC now owns 79,136 shares of the company’s stock valued at $2,562,000 after acquiring an additional 1,660 shares in the last quarter. Thoroughbred Financial Services LLC acquired a new stake in Patterson Companies in the first quarter valued at approximately $206,000. Finally, Victory Capital Management Inc. boosted its stake in Patterson Companies by 26.2% in the first quarter. Victory Capital Management Inc. now owns 1,432,935 shares of the company’s stock valued at $45,250,000 after acquiring an additional 297,657 shares in the last quarter. 82.55% of the stock is currently owned by institutional investors and hedge funds.

Patterson Companies Trading Up 0.8 %

NASDAQ PDCO opened at $29.10 on Thursday. The company has a market capitalization of $2.82 billion, a PE ratio of 14.77, a P/E/G ratio of 1.59 and a beta of 1.28. The company has a fifty day moving average of $26.69 and a 200 day moving average of $28.65. Patterson Companies, Inc. has a 1 year low of $23.87 and a 1 year high of $35.29. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.63 and a quick ratio of 0.80.

Patterson Companies (NASDAQ:PDCOGet Rating) last posted its earnings results on Thursday, September 1st. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.06). The business had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.55 billion. Patterson Companies had a net margin of 3.02% and a return on equity of 20.68%. The company’s revenue for the quarter was down 5.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.43 earnings per share. Research analysts forecast that Patterson Companies, Inc. will post 2.27 earnings per share for the current year.

Patterson Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 4th. Shareholders of record on Friday, October 21st were issued a $0.26 dividend. The ex-dividend date of this dividend was Thursday, October 20th. This represents a $1.04 dividend on an annualized basis and a yield of 3.57%. Patterson Companies’s payout ratio is 52.79%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. TheStreet downgraded shares of Patterson Companies from a “b” rating to a “c+” rating in a research note on Monday, September 12th. William Blair reiterated a “market perform” rating on shares of Patterson Companies in a research note on Friday, September 2nd. StockNews.com initiated coverage on shares of Patterson Companies in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Piper Sandler lowered their price objective on shares of Patterson Companies from $40.00 to $35.00 and set an “overweight” rating for the company in a research note on Monday, October 17th. Finally, Evercore ISI lowered their price objective on shares of Patterson Companies to $26.50 in a research note on Tuesday, September 6th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $32.92.

Patterson Companies Company Profile

(Get Rating)

Patterson Companies, Inc engages in 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.

Further Reading

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Institutional Ownership by Quarter for Patterson Companies (NASDAQ:PDCO)

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