Guggenheim Capital LLC Sells 15,129 Shares of Patterson Companies, Inc. (NASDAQ:PDCO)

Guggenheim Capital LLC cut its holdings in Patterson Companies, Inc. (NASDAQ:PDCO – Get Rating) by 33.5% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 30,027 shares of the company’s stock after selling 15,129 shares during the quarter. Guggenheim Capital LLC’s holdings in Patterson Companies were worth $721,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in PDCO. Amundi increased its position in Patterson Companies by 11.1% in the 2nd quarter. Amundi now owns 5,249 shares of the company’s stock valued at $156,000 after acquiring an additional 526 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of Patterson Companies by 38.7% in the second quarter. BNP Paribas Arbitrage SA now owns 99,643 shares of the company’s stock worth $3,019,000 after acquiring an additional 27,790 shares during the last quarter. Contravisory Investment Management Inc. raised its stake in shares of Patterson Companies by 3,978.9% in the third quarter. Contravisory Investment Management Inc. now owns 6,567 shares of the company’s stock worth $158,000 after acquiring an additional 6,406 shares during the last quarter. AXA S.A. raised its stake in shares of Patterson Companies by 193.1% in the third quarter. AXA S.A. now owns 492,931 shares of the company’s stock worth $11,841,000 after acquiring an additional 324,726 shares during the last quarter. Finally, Bridgewater Associates LP raised its stake in shares of Patterson Companies by 12.9% in the second quarter. Bridgewater Associates LP now owns 161,943 shares of the company’s stock worth $4,907,000 after acquiring an additional 18,519 shares during the last quarter. 81.09% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on PDCO shares. StockNews.com raised shares of Patterson Companies from a “hold” rating to a “buy” rating in a research note on Friday, March 3rd. TheStreet raised shares of Patterson Companies from a “c+” rating to a “b” rating in a research note on Thursday, December 1st. Evercore ISI boosted their target price on shares of Patterson Companies to $30.00 in a research note on Friday, December 2nd. Credit Suisse Group boosted their target price on shares of Patterson Companies to $39.00 and gave the stock an “outperform” rating in a research note on Monday, November 28th. Finally, Piper Sandler lifted their price target on shares of Patterson Companies from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Monday, February 6th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $34.17.

Patterson Companies Stock Down 0.7 %

Shares of NASDAQ:PDCO opened at $26.73 on Friday. Patterson Companies, Inc. has a one year low of $23.87 and a one year high of $35.29. The company has a 50 day moving average of $28.71 and a 200-day moving average of $27.76. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.57 and a quick ratio of 0.77. The stock has a market cap of $2.61 billion, a price-to-earnings ratio of 13.37, a P/E/G ratio of 1.65 and a beta of 1.29.

Patterson Companies (NASDAQ:PDCO – Get Rating) last issued its quarterly earnings results on Thursday, March 2nd. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.60 by $0.02. The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Patterson Companies had a net margin of 3.08% and a return on equity of 21.30%. Patterson Companies’s revenue was up .3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.55 EPS. On average, sell-side analysts forecast that Patterson Companies, Inc. will post 2.28 earnings per share for the current year.

Patterson Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 3rd. Investors of record on Friday, January 20th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date of this dividend was Thursday, January 19th. Patterson Companies’s dividend payout ratio is currently 52.00%.

About Patterson Companies

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Patterson Cos., Inc provides products, technologies, services, and business solutions to the dental and animal health markets. It operates through the following segments: Dental, Animal Health, and Corporate. The Dental segment provides consumable dental products, equipment and software, turnkey digital solutions, and value-added services to dentists, dental laboratories, institutions, and other healthcare professionals.