Vanguard Group Inc. Sells 74,571 Shares of Patterson Companies, Inc. (NASDAQ:PDCO)

Vanguard Group Inc. lessened its stake in Patterson Companies, Inc. (NASDAQ:PDCO - Free Report) by 0.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,260,680 shares of the company's stock after selling 74,571 shares during the quarter. Vanguard Group Inc. owned about 9.99% of Patterson Companies worth $274,487,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in PDCO. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Patterson Companies in the 1st quarter valued at $266,000. PNC Financial Services Group Inc. lifted its holdings in shares of Patterson Companies by 89.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,266 shares of the company's stock valued at $203,000 after acquiring an additional 2,966 shares in the last quarter. MetLife Investment Management LLC lifted its holdings in shares of Patterson Companies by 40.4% during the 1st quarter. MetLife Investment Management LLC now owns 102,249 shares of the company's stock valued at $3,310,000 after acquiring an additional 29,446 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Patterson Companies by 10.7% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 31,801 shares of the company's stock valued at $1,029,000 after acquiring an additional 3,084 shares in the last quarter. Finally, Great West Life Assurance Co. Can lifted its holdings in shares of Patterson Companies by 12.0% during the 1st quarter. Great West Life Assurance Co. Can now owns 52,913 shares of the company's stock valued at $1,763,000 after acquiring an additional 5,655 shares in the last quarter. Institutional investors and hedge funds own 85.43% of the company's stock.

Patterson Companies Stock Down 0.5 %

Shares of PDCO traded down $0.14 during midday trading on Friday, hitting $27.65. The company had a trading volume of 695,272 shares, compared to its average volume of 816,929. The company's 50 day moving average price is $28.22 and its 200 day moving average price is $28.99. The stock has a market cap of $2.48 billion, a price-to-earnings ratio of 13.62, a PEG ratio of 1.46 and a beta of 1.06. Patterson Companies, Inc. has a 52 week low of $25.00 and a 52 week 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 - Get Free Report) last released its 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 during 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%. Patterson Companies's revenue for the quarter was up .9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.62 EPS. On average, equities research analysts predict that Patterson Companies, Inc. will post 2.32 EPS for the current year.

Patterson Companies Dividend Announcement

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. This represents a $1.04 annualized dividend and a dividend yield of 3.76%. The ex-dividend date is Thursday, April 18th. Patterson Companies's payout ratio is currently 51.23%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. The Goldman Sachs Group reduced their target price on shares of Patterson Companies from $35.00 to $30.00 and set a "neutral" rating on the stock in a report on Thursday, November 30th. Leerink Partnrs restated an "outperform" rating on shares of Patterson Companies in a report on Monday, February 26th. Piper Sandler lowered shares of Patterson Companies from an "overweight" rating to a "neutral" rating and reduced their target price for the company from $34.00 to $28.00 in a report on Thursday, February 29th. Morgan Stanley cut their price objective on shares of Patterson Companies from $38.00 to $35.00 and set an "equal weight" rating on the stock in a report on Thursday, November 30th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Patterson Companies from $31.00 to $30.00 and set a "neutral" rating on the stock in a report on Wednesday, March 6th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price 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.