Victory Capital Management Inc. Sells 245,351 Shares of Patterson Companies, Inc. (NASDAQ:PDCO)

Victory Capital Management Inc. reduced its position in Patterson Companies, Inc. (NASDAQ:PDCO - Free Report) by 19.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,026,684 shares of the company's stock after selling 245,351 shares during the period. Victory Capital Management Inc. owned about 1.11% of Patterson Companies worth $29,209,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in PDCO. Nordea Investment Management AB grew its stake in Patterson Companies by 25.3% in the 4th quarter. Nordea Investment Management AB now owns 2,594,944 shares of the company's stock valued at $73,852,000 after acquiring an additional 523,226 shares during the last quarter. Sound Income Strategies LLC grew its position in shares of Patterson Companies by 22.2% in the fourth quarter. Sound Income Strategies LLC now owns 561,445 shares of the company's stock valued at $15,973,000 after purchasing an additional 101,860 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Patterson Companies by 8.3% during the 3rd quarter. AQR Capital Management LLC now owns 748,961 shares of the company's stock worth $22,117,000 after purchasing an additional 57,550 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in shares of Patterson Companies during the 3rd quarter worth approximately $1,765,000. Finally, Toroso Investments LLC lifted its stake in Patterson Companies by 15.0% in the 3rd quarter. Toroso Investments LLC now owns 53,875 shares of the company's stock valued at $1,597,000 after buying an additional 7,021 shares in the last quarter. Hedge funds and other institutional investors own 85.43% of the company's stock.

Patterson Companies Trading Down 0.6 %

Shares of PDCO stock traded down $0.15 on Wednesday, reaching $25.87. 968,159 shares of the stock were exchanged, compared to its average volume of 997,968. Patterson Companies, Inc. has a 1-year low of $25.00 and a 1-year high of $34.53. The stock has a market cap of $2.32 billion, a P/E ratio of 12.74, a price-to-earnings-growth ratio of 1.26 and a beta of 1.07. 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 firm has a 50 day moving average of $26.46 and a two-hundred day moving average of $28.28.

Patterson Companies (NASDAQ:PDCO - Get Free Report) last announced its quarterly earnings results on Wednesday, February 28th. The company reported $0.59 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 firm had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the prior year, the company earned $0.62 earnings per share. The business's revenue was up .9% compared to the same quarter last year. On average, research analysts anticipate that Patterson Companies, Inc. will post 2.32 EPS for the current year.

Patterson Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 3rd. Stockholders of record on Friday, April 19th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 4.02%. The ex-dividend date of this dividend was Thursday, April 18th. Patterson Companies's payout ratio is currently 51.23%.

Analyst Ratings Changes

PDCO has been the topic of a number of analyst reports. Leerink Partnrs reaffirmed an "outperform" rating on shares of Patterson Companies in a research note on Monday, February 26th. JPMorgan Chase & Co. decreased 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 note on Wednesday, March 6th. SVB Leerink began coverage on shares of Patterson Companies in a research report on Monday, February 26th. They issued an "outperform" rating and a $36.00 price objective for the company. Piper Sandler lowered shares of 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. Finally, Evercore ISI cut their price target on Patterson Companies from $28.00 to $27.00 and set an "in-line" rating for the company in a report on Friday, April 26th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Patterson Companies has a consensus rating of "Hold" and a consensus target price of $32.56.

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.