Merit Financial Group LLC Purchases 1,539 Shares of Patterson Companies, Inc. (NASDAQ:PDCO)

Merit Financial Group LLC boosted its position in Patterson Companies, Inc. (NASDAQ:PDCO) by 11.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,227 shares of the company’s stock after acquiring an additional 1,539 shares during the period. Merit Financial Group LLC’s holdings in Patterson Companies were worth $433,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. River Road Asset Management LLC boosted its holdings in Patterson Companies by 1.8% during the third quarter. River Road Asset Management LLC now owns 2,692,700 shares of the company’s stock worth $79,812,000 after buying an additional 46,399 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of Patterson Companies by 25.3% during the 4th quarter. Nordea Investment Management AB now owns 2,594,944 shares of the company’s stock valued at $73,852,000 after purchasing an additional 523,226 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Patterson Companies by 4.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,748,158 shares of the company’s stock valued at $49,735,000 after purchasing an additional 78,134 shares in the last quarter. LSV Asset Management lifted its holdings in shares of Patterson Companies by 46.2% during the 3rd quarter. LSV Asset Management now owns 915,345 shares of the company’s stock valued at $27,131,000 after purchasing an additional 289,100 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Patterson Companies by 0.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 780,633 shares of the company’s stock valued at $23,138,000 after purchasing an additional 5,187 shares in the last quarter. Institutional investors own 85.43% of the company’s stock.

Patterson Companies Stock Up 1.0 %

NASDAQ:PDCO opened at $26.02 on Wednesday. The firm has a market capitalization of $2.33 billion, a price-to-earnings ratio of 12.82, a price-to-earnings-growth ratio of 1.26 and a beta of 1.07. Patterson Companies, Inc. has a twelve month low of $25.00 and a twelve month high of $34.53. The stock’s 50 day moving average price is $26.48 and its two-hundred day moving average price is $28.30. 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 posted its quarterly earnings results on Wednesday, February 28th. The company reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.01). The company had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.63 billion. Patterson Companies had a return on equity of 20.98% and a net margin of 2.95%. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period last year, the firm earned $0.62 EPS. Equities research analysts expect that Patterson Companies, Inc. will post 2.32 earnings per share for the current fiscal year.

Patterson Companies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 3rd. Stockholders of record on Friday, April 19th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Thursday, April 18th. This represents a $1.04 annualized dividend and a dividend yield of 4.00%. Patterson Companies’s dividend payout ratio is currently 51.23%.

Analyst Ratings Changes

Several research firms have recently weighed in on PDCO. SVB Leerink began coverage on Patterson Companies in a report on Monday, February 26th. They set an “outperform” rating and a $36.00 price objective on the stock. Leerink Partnrs reiterated an “outperform” rating on shares of Patterson Companies in a report on Monday, February 26th. JPMorgan Chase & Co. cut their price objective 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 research report on Thursday, February 29th. Finally, Evercore ISI dropped their target price on Patterson Companies from $28.00 to $27.00 and set an “in-line” rating on the stock in a research report on Friday, April 26th. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Patterson Companies currently has a consensus rating of “Hold” and an average target price of $32.56.

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.