Patterson Companies, Inc. (PDCO) To Go Ex-Dividend on April 18th

Patterson Companies, Inc. (NASDAQ:PDCO) declared a quarterly dividend on Monday, March 11th, Zacks reports. Stockholders of record on Friday, April 19th will be given a dividend of 0.26 per share on Friday, May 3rd. This represents a $1.04 annualized dividend and a dividend yield of 4.10%. The ex-dividend date of this dividend is Thursday, April 18th.

Patterson Companies has a payout ratio of 39.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Patterson Companies to earn $2.48 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 41.9%.

Patterson Companies Trading Down 0.4 %

NASDAQ:PDCO opened at $25.35 on Tuesday. Patterson Companies has a 12-month low of $25.00 and a 12-month high of $34.53. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.43 and a quick ratio of 0.72. The business has a 50 day simple moving average of $27.38 and a 200 day simple moving average of $28.76. The firm has a market capitalization of $2.27 billion, a P/E ratio of 12.49, a P/E/G ratio of 1.34 and a beta of 1.06.

Patterson Companies (NASDAQ:PDCO) last announced its quarterly earnings results on Wednesday, February 28th. The company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.01). The firm had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.63 billion. Patterson Companies had a net margin of 2.95% and a return on equity of 20.98%. The business’s revenue was up .9% compared to the same quarter last year. During the same period last year, the firm posted $0.62 EPS. Equities research analysts predict that Patterson Companies will post 2.32 EPS for the current year.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Patterson Companies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of Patterson Companies by 9.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 48,506 shares of the company’s stock valued at $1,380,000 after purchasing an additional 4,217 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in Patterson Companies by 13.9% during the fourth quarter. Public Employees Retirement System of Ohio now owns 194,507 shares of the company’s stock valued at $5,534,000 after buying an additional 23,685 shares during the period. Barclays PLC lifted its stake in Patterson Companies by 255.9% in the 4th quarter. Barclays PLC now owns 194,010 shares of the company’s stock worth $5,520,000 after acquiring an additional 139,497 shares in the last quarter. Vanguard Group Inc. lifted its stake in Patterson Companies by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 9,287,365 shares of the company’s stock worth $264,226,000 after acquiring an additional 26,685 shares in the last quarter. Finally, Voya Investment Management LLC boosted its holdings in shares of Patterson Companies by 0.9% during the fourth quarter. Voya Investment Management LLC now owns 562,615 shares of the company’s stock worth $16,006,000 after purchasing an additional 4,785 shares during the period. Institutional investors and hedge funds own 85.43% of the company’s stock.

About Patterson Companies

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.