Allspring Global Investments Holdings LLC Purchases 78,134 Shares of Patterson Companies, Inc. (NASDAQ:PDCO)

Allspring Global Investments Holdings LLC boosted its holdings in Patterson Companies, Inc. (NASDAQ:PDCO - Free Report) by 4.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,748,158 shares of the company's stock after buying an additional 78,134 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 1.89% of Patterson Companies worth $49,735,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in PDCO. Money Concepts Capital Corp grew its position in shares of Patterson Companies by 195.7% in the 4th quarter. Money Concepts Capital Corp now owns 902 shares of the company's stock valued at $25,000 after buying an additional 597 shares during the last quarter. Quarry LP increased its position in shares of 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 buying an additional 834 shares during the period. Fifth Third Bancorp raised its stake 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 buying an additional 434 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Patterson Companies by 27.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,773 shares of the company's stock valued at $50,000 after buying an additional 377 shares during the period. Finally, Anchor Investment Management LLC bought a new stake in Patterson Companies during the fourth quarter valued at $55,000. 85.43% of the stock is currently owned by institutional investors and hedge funds.

Patterson Companies Stock Down 1.0 %

Shares of NASDAQ PDCO traded down $0.27 during midday trading on Friday, hitting $25.46. 856,773 shares of the stock traded hands, compared to its average volume of 1,072,016. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.72 and a current ratio of 1.43. Patterson Companies, Inc. has a one year low of $25.00 and a one year high of $34.53. The business has a 50 day moving average price of $27.54 and a two-hundred day moving average price of $28.83. The company has a market cap of $2.28 billion, a PE ratio of 12.58, a P/E/G ratio of 1.35 and a beta of 1.06.

Patterson Companies (NASDAQ:PDCO - Get Free Report) last released its quarterly earnings data on Wednesday, February 28th. The company reported $0.59 earnings per share for the quarter, missing analysts' consensus estimates of $0.60 by ($0.01). The business had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.63 billion. Patterson Companies had a net margin of 2.95% and a return on equity of 20.98%. The firm's quarterly revenue was up .9% on a year-over-year basis. During the same period last year, the business posted $0.62 earnings per share. On average, equities analysts predict that Patterson Companies, Inc. will post 2.32 EPS for the current year.

Patterson Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 3rd. Stockholders of record on Friday, April 19th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 4.08%. The ex-dividend date of this dividend is Thursday, April 18th. Patterson Companies's dividend payout ratio (DPR) is presently 51.23%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on PDCO shares. Leerink Partnrs reissued an "outperform" rating on shares of Patterson Companies in a research report on Monday, February 26th. JPMorgan Chase & Co. lowered their target price on Patterson Companies from $31.00 to $30.00 and set a "neutral" rating for the company in a report on Wednesday, March 6th. Piper Sandler cut Patterson Companies from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $34.00 to $28.00 in a report on Thursday, February 29th. Finally, SVB Leerink began coverage on shares of Patterson Companies in a research note on Monday, February 26th. They issued an "outperform" rating and a $36.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target 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.