River Road Asset Management LLC Sells 164,413 Shares of Patterson Companies, Inc. (NASDAQ:PDCO)

River Road Asset Management LLC decreased its position in shares of Patterson Companies, Inc. (NASDAQ:PDCO - Free Report) by 6.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 2,528,287 shares of the company's stock after selling 164,413 shares during the quarter. River Road Asset Management LLC owned approximately 2.73% of Patterson Companies worth $71,930,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. lifted its holdings in Patterson Companies by 3.5% during the 2nd quarter. BlackRock Inc. now owns 10,475,683 shares of the company's stock worth $348,421,000 after purchasing an additional 351,746 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Patterson Companies by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 9,099,018 shares of the company's stock worth $218,558,000 after purchasing an additional 147,277 shares in the last quarter. State Street Corp lifted its holdings in Patterson Companies by 1.9% during the 2nd quarter. State Street Corp now owns 3,074,151 shares of the company's stock worth $102,246,000 after purchasing an additional 56,053 shares in the last quarter. Nordea Investment Management AB lifted its holdings in Patterson Companies by 25.3% during the 4th quarter. Nordea Investment Management AB now owns 2,594,944 shares of the company's stock worth $73,852,000 after purchasing an additional 523,226 shares in the last quarter. Finally, Morgan Stanley lifted its holdings in Patterson Companies by 3.7% during the 3rd quarter. Morgan Stanley now owns 2,086,871 shares of the company's stock worth $61,855,000 after purchasing an additional 73,808 shares in the last quarter. Institutional investors own 85.43% of the company's stock.

Patterson Companies Price Performance

Shares of Patterson Companies stock traded up $0.10 during trading on Wednesday, hitting $25.73. 569,361 shares of the stock traded hands, compared to its average volume of 1,053,013. The company has a quick ratio of 0.72, a current ratio of 1.43 and a debt-to-equity ratio of 0.46. The stock has a market cap of $2.31 billion, a price-to-earnings ratio of 12.67, a PEG ratio of 1.33 and a beta of 1.06. The firm's fifty day moving average is $27.25 and its 200-day moving average is $28.71. Patterson Companies, Inc. has a 52 week low of $25.00 and a 52 week high of $34.53.

Patterson Companies (NASDAQ:PDCO - Get Free Report) last announced its quarterly earnings data on Wednesday, February 28th. The company reported $0.59 EPS for the quarter, missing the consensus estimate 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 net margin of 2.95% and a return on equity of 20.98%. Patterson Companies's revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter last year, the company posted $0.62 earnings per share. Research analysts expect that Patterson Companies, Inc. will post 2.32 EPS for the current fiscal year.

Patterson Companies Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Leerink Partnrs reissued an "outperform" rating on shares of Patterson Companies in a report on Monday, February 26th. JPMorgan Chase & Co. dropped 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 cut Patterson Companies from an "overweight" rating to a "neutral" rating and lowered their price target for the company from $34.00 to $28.00 in a report on Thursday, February 29th. Finally, SVB Leerink initiated coverage on Patterson Companies in a report on Monday, February 26th. They issued an "outperform" rating and a $36.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $33.11.

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.