LSV Asset Management Grows Stake in Patterson Companies, Inc. (PDCO)
LSV Asset Management raised its position in Patterson Companies, Inc. (NASDAQ:PDCO) by 143.2% during the third quarter, HoldingsChannel.com reports. The firm owned 938,900 shares of the company’s stock after buying an additional 552,813 shares during the quarter. LSV Asset Management’s holdings in Patterson Companies were worth $22,956,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in PDCO. Principal Financial Group Inc. grew its holdings in shares of Patterson Companies by 182.5% during the 1st quarter. Principal Financial Group Inc. now owns 364,937 shares of the company’s stock valued at $8,112,000 after purchasing an additional 235,760 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of Patterson Companies by 210.4% during the 2nd quarter. Bank of Montreal Can now owns 27,715 shares of the company’s stock valued at $628,000 after purchasing an additional 18,786 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Patterson Companies by 121.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 46,165 shares of the company’s stock valued at $1,047,000 after purchasing an additional 25,300 shares during the last quarter. Foundry Partners LLC bought a new position in shares of Patterson Companies during the 2nd quarter valued at $402,000. Finally, Janney Montgomery Scott LLC bought a new position in shares of Patterson Companies during the 2nd quarter valued at $389,000.
Several research firms recently commented on PDCO. BidaskClub raised shares of Patterson Companies from a “hold” rating to a “buy” rating in a report on Wednesday, August 22nd. Zacks Investment Research lowered shares of Patterson Companies from a “buy” rating to a “sell” rating in a report on Monday, August 27th. ValuEngine raised shares of Patterson Companies from a “strong sell” rating to a “sell” rating in a report on Tuesday, September 4th. Leerink Swann began coverage on shares of Patterson Companies in a report on Friday, August 10th. They set a “market perform” rating and a $25.00 target price on the stock. Finally, Morgan Stanley reduced their target price on shares of Patterson Companies from $21.00 to $19.00 and set an “underweight” rating on the stock in a report on Friday, August 31st. Six analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $25.68.
Patterson Companies (NASDAQ:PDCO) last announced its quarterly earnings results on Thursday, August 30th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.08). The firm had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.30 billion. Patterson Companies had a return on equity of 9.71% and a net margin of 3.01%. Patterson Companies’s revenue was up 2.5% on a year-over-year basis. During the same period last year, the business earned $0.44 EPS. Research analysts expect that Patterson Companies, Inc. will post 1.42 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, October 26th. Shareholders of record on Friday, October 12th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date of this dividend was Thursday, October 11th. Patterson Companies’s dividend payout ratio (DPR) is presently 61.90%.
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Patterson Companies Profile
Patterson Companies, Inc distributes and sells dental and animal health products in the United States, the United Kingdom, and Canada. It operates through Dental and Animal Health segments. The company's Dental segment offers consumable products, such as infection control, restorative materials, hand instruments, and sterilization products; basic and advanced technology dental equipment; patient education systems; and office forms and stationery.
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