Envestnet Asset Management Inc. Trims Stock Position in Patterson Companies, Inc. (NASDAQ:PDCO)

Envestnet Asset Management Inc. decreased its stake in Patterson Companies, Inc. (NASDAQ:PDCO – Get Rating) by 7.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 57,263 shares of the company’s stock after selling 4,895 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.06% of Patterson Companies worth $1,605,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Patterson Companies by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 9,099,018 shares of the company’s stock valued at $218,558,000 after purchasing an additional 147,277 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Patterson Companies by 0.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 4,017,569 shares of the company’s stock worth $96,503,000 after buying an additional 37,202 shares during the last quarter. State Street Corp raised its position in Patterson Companies by 3.3% during the 3rd quarter. State Street Corp now owns 2,875,503 shares of the company’s stock worth $69,070,000 after buying an additional 91,095 shares during the last quarter. River Road Asset Management LLC increased its holdings in shares of Patterson Companies by 1.1% in the 4th quarter. River Road Asset Management LLC now owns 2,815,260 shares of the company’s stock valued at $78,912,000 after purchasing an additional 31,517 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Patterson Companies by 4.6% in the 3rd quarter. Victory Capital Management Inc. now owns 1,594,824 shares of the company’s stock valued at $38,308,000 after purchasing an additional 70,691 shares in the last quarter. 81.09% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PDCO has been the topic of several analyst reports. Piper Sandler raised their price target on shares of Patterson Companies from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Monday, February 6th. StockNews.com initiated coverage on shares of Patterson Companies in a report on Thursday. They issued a “buy” rating on the stock. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $33.80.

Patterson Companies Stock Performance

NASDAQ:PDCO opened at $26.99 on Monday. Patterson Companies, Inc. has a twelve month low of $23.87 and a twelve month high of $31.92. The company has a current ratio of 1.57, a quick ratio of 0.77 and a debt-to-equity ratio of 0.41. The company has a 50-day moving average of $26.61 and a 200-day moving average of $27.85. The firm has a market cap of $2.64 billion, a price-to-earnings ratio of 13.50, a price-to-earnings-growth ratio of 1.62 and a beta of 1.24.

Patterson Companies (NASDAQ:PDCO – Get Rating) last posted its quarterly earnings data on Thursday, March 2nd. The company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.63 billion. Patterson Companies had a net margin of 3.08% and a return on equity of 21.30%. The business’s quarterly revenue was up .3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.55 earnings per share. Analysts forecast that Patterson Companies, Inc. will post 2.28 earnings per share for the current fiscal year.

Patterson Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 5th. Investors of record on Friday, April 21st were issued a $0.26 dividend. The ex-dividend date of this dividend was Thursday, April 20th. This represents a $1.04 dividend on an annualized basis and a yield of 3.85%. Patterson Companies’s dividend payout ratio is currently 52.00%.

Patterson Companies Company Profile

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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.