Meritage Portfolio Management Has $2.96 Million Holdings in Patterson Companies, Inc. (NASDAQ:PDCO)

Meritage Portfolio Management grew its position in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 29.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 104,092 shares of the company’s stock after acquiring an additional 23,629 shares during the quarter. Meritage Portfolio Management owned about 0.11% of Patterson Companies worth $2,961,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of PDCO. GAMMA Investing LLC acquired a new position in Patterson Companies during the 4th quarter valued at about $32,000. Fifth Third Bancorp boosted its position in shares of Patterson Companies by 54.8% during the third quarter. Fifth Third Bancorp now owns 1,226 shares of the company’s stock valued at $36,000 after buying an additional 434 shares during the last quarter. Anchor Investment Management LLC purchased a new stake in Patterson Companies in the 4th quarter valued at $55,000. Signaturefd LLC lifted its stake in Patterson Companies by 93.5% during the 4th quarter. Signaturefd LLC now owns 2,107 shares of the company’s stock valued at $60,000 after acquiring an additional 1,018 shares in the last quarter. Finally, Huntington National Bank boosted its holdings in Patterson Companies by 57.0% during the 3rd quarter. Huntington National Bank now owns 2,737 shares of the company’s stock worth $81,000 after acquiring an additional 994 shares during the last quarter. 85.43% of the stock is owned by institutional investors and hedge funds.

Patterson Companies Stock Performance

NASDAQ:PDCO traded down $0.38 during trading hours on Thursday, reaching $25.80. The stock had a trading volume of 608,239 shares, compared to its average volume of 1,015,565. The stock has a market cap of $2.31 billion, a P/E ratio of 12.71, a price-to-earnings-growth ratio of 1.36 and a beta of 1.06. The stock has a 50 day simple moving average of $26.99 and a 200 day simple moving average of $28.58. 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 12-month low of $25.00 and a 12-month high of $34.53.

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

Patterson Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 3rd. Investors of record on Friday, April 19th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 4.03%. The ex-dividend date of this dividend is Thursday, April 18th. Patterson Companies’s dividend payout ratio (DPR) is presently 51.23%.

Wall Street Analysts Forecast Growth

PDCO has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. dropped 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 report on Wednesday, March 6th. Leerink Partnrs restated an “outperform” rating on shares of Patterson Companies in a research note on Monday, February 26th. Piper Sandler downgraded Patterson Companies from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $34.00 to $28.00 in a research report on Thursday, February 29th. Finally, SVB Leerink started coverage on Patterson Companies in a research report on Monday, February 26th. They issued an “outperform” rating and a $36.00 price objective on the stock. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $33.11.

About Patterson Companies

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.