Moran Wealth Management LLC Acquires Shares of 109,388 Patterson Companies, Inc. (NASDAQ:PDCO)

Moran Wealth Management LLC purchased a new stake in shares of Patterson Companies, Inc. (NASDAQ:PDCO) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 109,388 shares of the company’s stock, valued at approximately $2,389,000.

A number of other hedge funds have also modified their holdings of PDCO. Vanguard Group Inc. grew its stake in Patterson Companies by 7.9% in the first quarter. Vanguard Group Inc. now owns 10,018,184 shares of the company’s stock valued at $277,003,000 after purchasing an additional 730,819 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Patterson Companies by 0.6% in the second quarter. Dimensional Fund Advisors LP now owns 3,915,315 shares of the company’s stock worth $94,436,000 after buying an additional 23,344 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Patterson Companies by 13.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,183,940 shares of the company’s stock valued at $47,697,000 after acquiring an additional 258,042 shares during the last quarter. River Road Asset Management LLC grew its position in Patterson Companies by 3.6% in the third quarter. River Road Asset Management LLC now owns 1,988,217 shares of the company’s stock worth $43,423,000 after acquiring an additional 68,947 shares in the last quarter. Finally, Equity Investment Corp increased its stake in shares of Patterson Companies by 10.6% during the 3rd quarter. Equity Investment Corp now owns 1,739,669 shares of the company’s stock worth $37,994,000 after purchasing an additional 166,899 shares during the last quarter. 85.43% of the stock is owned by institutional investors and hedge funds.

Patterson Companies Stock Performance

NASDAQ:PDCO opened at $20.28 on Friday. The firm’s 50-day moving average is $21.04 and its 200-day moving average is $23.13. The company has a market cap of $1.79 billion, a price-to-earnings ratio of 11.08, a PEG ratio of 1.49 and a beta of 1.02. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.67 and a current ratio of 1.30. Patterson Companies, Inc. has a 52-week low of $19.45 and a 52-week high of $32.58.

Patterson Companies (NASDAQ:PDCO) last posted its quarterly earnings results on Wednesday, August 28th. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.08). Patterson Companies had a net margin of 2.58% and a return on equity of 19.87%. The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same period last year, the company earned $0.40 EPS. The company’s revenue was down 2.3% on a year-over-year basis. Equities research analysts anticipate that Patterson Companies, Inc. will post 2.32 earnings per share for the current year.

Patterson Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Wednesday, October 16th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 5.13%. The ex-dividend date of this dividend was Friday, October 18th. Patterson Companies’s dividend payout ratio is 56.83%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. UBS Group decreased their price objective on shares of Patterson Companies from $27.00 to $24.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. JPMorgan Chase & Co. lowered their price objective on Patterson Companies from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. Evercore ISI reduced their target price on Patterson Companies from $23.00 to $22.00 and set an “in-line” rating for the company in a report on Tuesday, October 8th. Bank of America lowered their price target on Patterson Companies from $31.00 to $29.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Finally, Robert W. Baird reduced their price objective on shares of Patterson Companies from $30.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th. Nine analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $28.30.

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.