New York State Teachers Retirement System Grows Holdings in Patterson Companies, Inc. (NASDAQ:PDCO)

New York State Teachers Retirement System grew its holdings in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 2.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 142,815 shares of the company’s stock after buying an additional 3,914 shares during the quarter. New York State Teachers Retirement System owned 0.15% of Patterson Companies worth $4,063,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Money Concepts Capital Corp lifted its stake in Patterson Companies by 195.7% during the fourth quarter. Money Concepts Capital Corp now owns 902 shares of the company’s stock worth $25,000 after purchasing an additional 597 shares during the last quarter. Quarry LP lifted its stake in Patterson Companies by 499.4% during the first quarter. Quarry LP now owns 1,001 shares of the company’s stock worth $27,000 after purchasing an additional 834 shares during the last quarter. Fifth Third Bancorp lifted its stake in Patterson Companies by 54.8% during the third quarter. Fifth Third Bancorp now owns 1,226 shares of the company’s stock worth $36,000 after purchasing an additional 434 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in Patterson Companies by 27.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,773 shares of the company’s stock worth $50,000 after purchasing an additional 377 shares during the last quarter. Finally, Anchor Investment Management LLC bought a new position in Patterson Companies during the fourth quarter worth $55,000. 85.43% of the stock is currently owned by hedge funds and other institutional investors.

Patterson Companies Price Performance

Shares of NASDAQ PDCO opened at $25.46 on Monday. Patterson Companies, Inc. has a fifty-two week low of $25.00 and a fifty-two week high of $34.53. The firm’s 50-day simple moving average is $27.45 and its 200 day simple moving average is $28.79. The company has a quick ratio of 0.72, a current ratio of 1.43 and a debt-to-equity ratio of 0.46. The stock has a market cap of $2.28 billion, a P/E ratio of 12.54, a P/E/G ratio of 1.34 and a beta of 1.06.

Patterson Companies (NASDAQ:PDCO) last issued 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 the consensus estimate of $1.63 billion. During the same quarter in the prior year, the firm earned $0.62 earnings per share. Patterson Companies’s revenue for the quarter was up .9% compared to the same quarter last year. Equities analysts expect that Patterson Companies, Inc. will post 2.32 EPS for the current year.

Patterson Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 3rd. Investors of record on Friday, April 19th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date of this dividend is Thursday, April 18th. Patterson Companies’s dividend payout ratio is currently 51.23%.

Analyst Ratings Changes

Several equities analysts recently issued reports on PDCO shares. JPMorgan Chase & Co. reduced their price objective on Patterson Companies from $31.00 to $30.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 6th. Leerink Partnrs reaffirmed an “outperform” rating on shares of Patterson Companies in a research report on Monday, February 26th. Piper Sandler cut Patterson Companies from an “overweight” rating to a “neutral” rating and cut their target price for the company from $34.00 to $28.00 in a research note on Thursday, February 29th. Finally, SVB Leerink initiated coverage on Patterson Companies in a research note on Monday, February 26th. They issued an “outperform” rating and a $36.00 target price on the stock. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $33.11.

Patterson Companies 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.