Tokio Marine Asset Management Co. Ltd. Has $603,000 Stock Position in Patterson Companies, Inc. (NASDAQ:PDCO)

Tokio Marine Asset Management Co. Ltd. lowered its holdings in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 20.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,200 shares of the company’s stock after selling 5,300 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Patterson Companies were worth $603,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in PDCO. GAMMA Investing LLC acquired a new stake in Patterson Companies in the fourth quarter valued at approximately $32,000. Fifth Third Bancorp grew its stake in Patterson Companies by 54.8% in the third quarter. Fifth Third Bancorp now owns 1,226 shares of the company’s stock valued at $36,000 after acquiring an additional 434 shares during the period. Anchor Investment Management LLC acquired a new stake in Patterson Companies in the fourth quarter valued at approximately $55,000. Signaturefd LLC grew its stake in Patterson Companies by 93.5% in the fourth quarter. Signaturefd LLC now owns 2,107 shares of the company’s stock valued at $60,000 after acquiring an additional 1,018 shares during the period. Finally, Huntington National Bank grew its stake in Patterson Companies by 57.0% in the third quarter. Huntington National Bank now owns 2,737 shares of the company’s stock valued at $81,000 after acquiring an additional 994 shares during the period. Institutional investors and hedge funds own 85.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on PDCO shares. Leerink Partnrs reissued an “outperform” rating on shares of Patterson Companies in a research note on Monday, February 26th. Evercore ISI reduced their price objective on Patterson Companies from $28.00 to $27.00 and set an “in-line” rating for the company in a research note on Friday. JPMorgan Chase & Co. dropped their target price on Patterson Companies from $31.00 to $30.00 and set a “neutral” rating on the stock in a report on Wednesday, March 6th. Piper Sandler lowered Patterson Companies from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $34.00 to $28.00 in a report on Thursday, February 29th. Finally, SVB Leerink began coverage on Patterson Companies in a report on Monday, February 26th. They issued an “outperform” rating and a $36.00 target price on the stock. Seven research 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 has an average rating of “Hold” and an average price target of $32.56.

Patterson Companies Stock Down 0.1 %

PDCO stock opened at $25.77 on Friday. The stock’s 50 day moving average is $26.88 and its 200-day moving average is $28.53. The firm has a market capitalization of $2.31 billion, a PE ratio of 12.69, a P/E/G ratio of 1.35 and a beta of 1.06. Patterson Companies, Inc. has a twelve month low of $25.00 and a twelve month high of $34.53. The company has a quick ratio of 0.72, a current ratio of 1.43 and a debt-to-equity ratio of 0.46.

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

Patterson Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 3rd. Investors of record on Friday, April 19th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $1.04 dividend on an annualized basis and a yield of 4.04%. Patterson Companies’s dividend payout ratio (DPR) is currently 51.23%.

Patterson Companies Company 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.