K.J. Harrison & Partners Inc Buys New Stake in Patterson Companies, Inc. (NASDAQ:PDCO)

K.J. Harrison & Partners Inc bought a new stake in Patterson Companies, Inc. (NASDAQ:PDCO) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 25,000 shares of the company’s stock, valued at approximately $711,000.

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

Patterson Companies Trading Down 0.1 %

PDCO stock traded down $0.03 during mid-day trading on Friday, reaching $25.77. 453,559 shares of the stock traded hands, compared to its average volume of 580,553. The company has a current ratio of 1.43, a quick ratio of 0.72 and a debt-to-equity ratio of 0.46. The company has a market cap of $2.31 billion, a P/E ratio of 12.69, a P/E/G ratio of 1.36 and a beta of 1.06. The stock’s fifty day moving average is $26.88 and its 200-day moving average is $28.54. Patterson Companies, Inc. has a 52-week low of $25.00 and a 52-week high of $34.53.

Patterson Companies (NASDAQ:PDCO) last posted 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). The company had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.63 billion. Patterson Companies had a return on equity of 20.98% and a net margin of 2.95%. The business’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.62 earnings per share. As a group, sell-side analysts expect that Patterson Companies, Inc. will post 2.32 earnings per share for the current year.

Patterson Companies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 3rd. Investors of record on Friday, April 19th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 4.04%. The ex-dividend date is Thursday, April 18th. Patterson Companies’s dividend payout ratio is currently 51.23%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PDCO. 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 target price for the company. Piper Sandler lowered shares of Patterson Companies from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $34.00 to $28.00 in a research report on Thursday, February 29th. JPMorgan Chase & Co. reduced their price objective on shares of Patterson Companies from $31.00 to $30.00 and set a “neutral” rating for the company in a research report on Wednesday, March 6th. Evercore ISI reduced their price objective on shares of Patterson Companies from $28.00 to $27.00 and set an “in-line” rating for the company in a research report on Friday. Finally, Leerink Partnrs restated an “outperform” rating on shares of Patterson Companies in a research report on Monday, February 26th. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $32.56.

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.