Peregrine Capital Management LLC Has $6.47 Million Stock Position in Patterson Companies, Inc. (NASDAQ:PDCO)

Peregrine Capital Management LLC reduced its position in Patterson Companies, Inc. (NASDAQ:PDCO - Free Report) by 16.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 227,468 shares of the company's stock after selling 43,832 shares during the period. Peregrine Capital Management LLC owned 0.25% of Patterson Companies worth $6,471,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

PDCO has been the subject of several analyst reports. Piper Sandler lowered Patterson Companies from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $34.00 to $28.00 in a research report on Thursday, February 29th. Leerink Partnrs restated an "outperform" rating on shares of Patterson Companies in a report on Monday, February 26th. SVB Leerink began coverage on shares of Patterson Companies in a report on Monday, February 26th. They issued an "outperform" rating and a $36.00 target price on the stock. Finally, JPMorgan Chase & Co. reduced 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. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $33.11.

Patterson Companies Stock Up 0.2 %

Shares of Patterson Companies stock traded up $0.06 on Thursday, hitting $25.73. The company had a trading volume of 558,333 shares, compared to its average volume of 1,075,091. Patterson Companies, Inc. has a twelve month low of $25.00 and a twelve 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 stock has a 50-day moving average of $27.54 and a 200-day moving average of $28.83. The firm has a market capitalization of $2.31 billion, a P/E ratio of 12.67, a P/E/G ratio of 1.38 and a beta of 1.06.

Patterson Companies (NASDAQ:PDCO - Get Free Report) last released its earnings results on Wednesday, February 28th. The company reported $0.59 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.60 by ($0.01). The firm 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%. Patterson Companies's revenue for the quarter was up .9% on a year-over-year basis. During the same quarter last year, the company posted $0.62 EPS. Research analysts predict that Patterson Companies, Inc. will post 2.32 earnings per share for the current year.

Patterson Companies Dividend Announcement

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

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.