Sound Income Strategies LLC Has $9.49 Million Stock Holdings in Patterson Companies, Inc. (NASDAQ:PDCO)

Sound Income Strategies LLC grew its holdings in Patterson Companies, Inc. (NASDAQ:PDCO – Get Rating) by 12.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 338,384 shares of the company’s stock after purchasing an additional 38,398 shares during the quarter. Patterson Companies comprises about 1.2% of Sound Income Strategies LLC’s portfolio, making the stock its 22nd biggest position. Sound Income Strategies LLC’s holdings in Patterson Companies were worth $9,485,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in PDCO. Rockefeller Capital Management L.P. raised its stake in Patterson Companies by 74.5% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 1,120 shares of the company’s stock worth $26,000 after buying an additional 478 shares during the period. National Bank of Canada FI raised its stake in Patterson Companies by 60.0% during the 3rd quarter. National Bank of Canada FI now owns 2,000 shares of the company’s stock worth $42,000 after buying an additional 750 shares during the period. Captrust Financial Advisors raised its stake in Patterson Companies by 28.7% during the 2nd quarter. Captrust Financial Advisors now owns 1,815 shares of the company’s stock worth $55,000 after buying an additional 405 shares during the period. Ronald Blue Trust Inc. acquired a new position in Patterson Companies during the 2nd quarter worth approximately $58,000. Finally, SeaCrest Wealth Management LLC acquired a new position in Patterson Companies during the 2nd quarter worth approximately $96,000. 81.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. StockNews.com assumed coverage on Patterson Companies in a research note on Thursday. They set a “buy” rating on the stock. TheStreet raised Patterson Companies from a “c+” rating to a “b” rating in a report on Thursday, December 1st. Credit Suisse Group boosted their price objective on Patterson Companies to $39.00 and gave the stock an “outperform” rating in a report on Monday, November 28th. Piper Sandler boosted their price objective on Patterson Companies from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Monday, February 6th. Finally, Evercore ISI boosted their price objective on Patterson Companies to $30.00 in a report on Friday, December 2nd. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $34.17.

Patterson Companies Stock Performance

Shares of PDCO stock traded down $0.44 during trading on Friday, hitting $25.36. The company’s stock had a trading volume of 1,648,306 shares, compared to its average volume of 651,084. The company has a market cap of $2.48 billion, a PE ratio of 12.68, a P/E/G ratio of 1.57 and a beta of 1.29. The company has a current ratio of 1.57, a quick ratio of 0.77 and a debt-to-equity ratio of 0.41. The business has a fifty day moving average of $28.45 and a 200-day moving average of $27.64. Patterson Companies, Inc. has a 52 week low of $23.87 and a 52 week high of $35.29.

Patterson Companies (NASDAQ:PDCO – Get Rating) last released its earnings results on Thursday, March 2nd. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.02. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.63 billion. Patterson Companies had a return on equity of 21.30% and a net margin of 3.08%. Patterson Companies’s quarterly revenue was up .3% on a year-over-year basis. During the same period in the prior year, the company posted $0.55 earnings per share. As a group, research analysts anticipate that Patterson Companies, Inc. will post 2.28 earnings per share for the current year.

Patterson Companies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 5th. Stockholders of record on Friday, April 21st will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 4.10%. The ex-dividend date of this dividend is Thursday, April 20th. Patterson Companies’s dividend payout ratio is presently 52.00%.

Patterson Companies Company Profile

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Patterson Cos., Inc provides products, technologies, services, and business solutions to the dental and animal health markets. It operates through the following segments: Dental, Animal Health, and Corporate. The Dental segment provides consumable dental products, equipment and software, turnkey digital solutions, and value-added services to dentists, dental laboratories, institutions, and other healthcare professionals.