New York Life Investment Management LLC Sells 2,131 Shares of Patterson Companies, Inc. (NASDAQ:PDCO)

New York Life Investment Management LLC lessened its stake in shares of Patterson Companies, Inc. (NASDAQ:PDCOFree Report) by 13.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,279 shares of the company’s stock after selling 2,131 shares during the period. New York Life Investment Management LLC’s holdings in Patterson Companies were worth $394,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. BlackRock Inc. increased its holdings in Patterson Companies by 3.5% during the second quarter. BlackRock Inc. now owns 10,475,683 shares of the company’s stock worth $348,421,000 after buying an additional 351,746 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Patterson Companies by 1.6% in the third quarter. Vanguard Group Inc. now owns 9,099,018 shares of the company’s stock worth $218,558,000 after purchasing an additional 147,277 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Patterson Companies by 2.6% in the second quarter. Dimensional Fund Advisors LP now owns 4,034,343 shares of the company’s stock worth $134,182,000 after purchasing an additional 102,014 shares in the last quarter. State Street Corp increased its stake in shares of Patterson Companies by 1.9% in the second quarter. State Street Corp now owns 3,074,151 shares of the company’s stock worth $102,246,000 after purchasing an additional 56,053 shares in the last quarter. Finally, Morgan Stanley increased its stake in shares of Patterson Companies by 44.1% in the fourth quarter. Morgan Stanley now owns 1,921,031 shares of the company’s stock worth $53,847,000 after purchasing an additional 587,570 shares in the last quarter. Hedge funds and other institutional investors own 79.24% of the company’s stock.

Analyst Upgrades and Downgrades

PDCO has been the subject of several recent research reports. StockNews.com downgraded shares of Patterson Companies from a “buy” rating to a “hold” rating in a research note on Friday, November 17th. Piper Sandler reduced their target price on shares of Patterson Companies from $39.00 to $34.00 and set an “overweight” rating for the company in a research note on Thursday, November 30th. The Goldman Sachs Group reduced their target price on shares of Patterson Companies from $35.00 to $30.00 and set a “neutral” rating for the company in a research note on Thursday, November 30th. Stifel Nicolaus reiterated a “hold” rating and issued a $32.00 target price on shares of Patterson Companies in a research note on Tuesday, November 28th. Finally, Morgan Stanley cut their price objective on shares of Patterson Companies from $38.00 to $35.00 and set an “equal weight” rating for the company in a research report on Thursday, November 30th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Patterson Companies presently has an average rating of “Hold” and a consensus price target of $34.00.

Check Out Our Latest Analysis on PDCO

Insider Buying and Selling at Patterson Companies

In other Patterson Companies news, CFO Kevin Michael Barry sold 1,627 shares of Patterson Companies stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $25.36, for a total transaction of $41,260.72. Following the completion of the sale, the chief financial officer now directly owns 23,103 shares in the company, valued at $585,892.08. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Patterson Companies news, CEO Donald Zurbay sold 1,868 shares of Patterson Companies stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $26.58, for a total transaction of $49,651.44. Following the transaction, the chief executive officer now directly owns 141,923 shares of the company’s stock, valued at $3,772,313.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kevin Michael Barry sold 1,627 shares of Patterson Companies stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $25.36, for a total transaction of $41,260.72. Following the transaction, the chief financial officer now directly owns 23,103 shares in the company, valued at $585,892.08. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by company insiders.

Patterson Companies Price Performance

PDCO stock opened at $28.68 on Friday. The firm has a 50 day moving average of $28.66 and a 200-day moving average of $30.15. The company has a current ratio of 1.56, a quick ratio of 0.81 and a debt-to-equity ratio of 0.43. Patterson Companies, Inc. has a 12 month low of $25.00 and a 12 month high of $34.53. The firm has a market capitalization of $2.66 billion, a P/E ratio of 13.92, a price-to-earnings-growth ratio of 1.44 and a beta of 1.09.

Patterson Companies (NASDAQ:PDCOGet Free Report) last released its quarterly earnings data on Wednesday, November 29th. The company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.09). Patterson Companies had a net margin of 3.05% and a return on equity of 20.91%. The firm had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter last year, the business posted $0.63 earnings per share. Patterson Companies’s revenue was up 1.6% compared to the same quarter last year. As a group, sell-side analysts predict that Patterson Companies, Inc. will post 2.38 earnings per share for the current fiscal year.

Patterson Companies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 2nd. Shareholders of record on Friday, January 19th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Thursday, January 18th. This represents a $1.04 annualized dividend and a yield of 3.63%. Patterson Companies’s payout ratio is presently 50.49%.

Patterson Companies Profile

(Free Report)

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.

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

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