Patterson Companies, Inc. (NASDAQ:PDCO) Given Average Recommendation of "Hold" by Brokerages

Shares of Patterson Companies, Inc. (NASDAQ:PDCO - Get Free Report) have been assigned an average rating of "Hold" from the seven research firms that are currently covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $33.11.

Several brokerages recently issued reports on PDCO. SVB Leerink began coverage on shares of Patterson Companies in a report on Monday, February 26th. They set an "outperform" rating and a $36.00 target price for the company. Piper Sandler cut shares of Patterson Companies from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $34.00 to $28.00 in a report on Thursday, February 29th. JPMorgan Chase & Co. dropped their price target on shares of Patterson Companies from $31.00 to $30.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 6th. Finally, Leerink Partnrs restated an "outperform" rating on shares of Patterson Companies in a research report on Monday, February 26th.

Patterson Companies Stock Performance

Shares of NASDAQ PDCO traded up $0.28 during midday trading on Tuesday, reaching $25.63. The company had a trading volume of 448,835 shares, compared to its average volume of 1,059,639. The company has a current ratio of 1.43, a quick ratio of 0.72 and a debt-to-equity ratio of 0.46. The business's 50-day simple moving average is $27.38 and its 200 day simple moving average is $28.76. Patterson Companies has a 1 year low of $25.00 and a 1 year high of $34.53. The stock has a market cap of $2.30 billion, a P/E ratio of 12.57, a P/E/G ratio of 1.34 and a beta of 1.06.

Patterson Companies (NASDAQ:PDCO - Get Free Report) last issued its 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). Patterson Companies had a return on equity of 20.98% and a net margin of 2.95%. The business had revenue of $1.62 billion for the quarter, compared to analysts' expectations of $1.63 billion. During the same period last year, the business earned $0.62 EPS. The company's revenue for the quarter was up .9% on a year-over-year basis. On average, analysts forecast that Patterson Companies will post 2.32 earnings per share for the current fiscal year.

Patterson Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 3rd. Stockholders of record on Friday, April 19th will be given a $0.26 dividend. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $1.04 annualized dividend and a dividend yield of 4.06%. Patterson Companies's dividend payout ratio (DPR) is 51.23%.

Institutional Trading of Patterson Companies

Several institutional investors have recently modified their holdings of PDCO. Money Concepts Capital Corp boosted its position 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 acquiring an additional 597 shares during the last quarter. Quarry LP boosted its position 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 acquiring an additional 834 shares during the last quarter. GAMMA Investing LLC acquired a new position in Patterson Companies during the fourth quarter worth about $32,000. KBC Group NV acquired a new position in Patterson Companies during the fourth quarter worth about $32,000. Finally, Fifth Third Bancorp boosted its position 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 acquiring an additional 434 shares during the last quarter. Institutional investors and hedge funds own 85.43% of the company's stock.

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.