Heartland Advisors Inc. Reduces Position in Patterson Companies, Inc. (NASDAQ:PDCO)

Heartland Advisors Inc. cut its stake in shares of Patterson Companies, Inc. (NASDAQ:PDCOFree Report) by 0.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 406,800 shares of the company’s stock after selling 500 shares during the quarter. Heartland Advisors Inc.’s holdings in Patterson Companies were worth $11,573,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Personalized Indexing Management LLC lifted its position in Patterson Companies by 10.1% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 12,721 shares of the company’s stock valued at $362,000 after purchasing an additional 1,168 shares during the period. Gladius Capital Management LP lifted its position in Patterson Companies by 286.3% during the fourth quarter. Gladius Capital Management LP now owns 5,404 shares of the company’s stock valued at $154,000 after purchasing an additional 4,005 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Patterson Companies by 2.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 796,640 shares of the company’s stock valued at $22,664,000 after purchasing an additional 16,007 shares during the period. LSV Asset Management lifted its position in Patterson Companies by 1.4% during the fourth quarter. LSV Asset Management now owns 928,445 shares of the company’s stock valued at $26,414,000 after purchasing an additional 13,100 shares during the period. Finally, Merit Financial Group LLC lifted its position in Patterson Companies by 11.2% during the fourth quarter. Merit Financial Group LLC now owns 15,227 shares of the company’s stock valued at $433,000 after purchasing an additional 1,539 shares during the period. 85.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on PDCO shares. Evercore ISI decreased their target price 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, April 26th. JPMorgan Chase & Co. decreased 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. Leerink Partnrs reiterated an “outperform” rating on shares of Patterson Companies in a research report on Monday, February 26th. StockNews.com upgraded shares of Patterson Companies from a “hold” rating to a “buy” rating in a research report on Friday. Finally, Piper Sandler downgraded shares of Patterson Companies from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $34.00 to $28.00 in a research report on Thursday, February 29th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Patterson Companies currently has a consensus rating of “Hold” and an average price target of $32.56.

Get Our Latest Stock Analysis on PDCO

Patterson Companies Price Performance

Shares of PDCO traded down $0.12 during mid-day trading on Tuesday, hitting $25.44. 1,131,114 shares of the company were exchanged, compared to its average volume of 1,007,237. Patterson Companies, Inc. has a 1-year low of $24.77 and a 1-year high of $34.53. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.72 and a current ratio of 1.43. The company has a 50 day moving average of $26.35 and a 200-day moving average of $28.13. The stock has a market cap of $2.28 billion, a price-to-earnings ratio of 12.53, a price-to-earnings-growth ratio of 1.25 and a beta of 1.07.

Patterson Companies (NASDAQ:PDCOGet Free Report) last released its quarterly earnings results 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). Patterson Companies had a return on equity of 20.98% and a net margin of 2.95%. The company had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same quarter last year, the company earned $0.62 EPS. The firm’s revenue for the quarter was up .9% on a year-over-year basis. Analysts expect that Patterson Companies, Inc. will post 2.32 EPS for the current fiscal year.

Patterson Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 3rd. Investors of record on Friday, April 19th were paid a dividend of $0.26 per share. The ex-dividend date was Thursday, April 18th. This represents a $1.04 annualized dividend and a yield of 4.09%. Patterson Companies’s dividend payout ratio is presently 51.23%.

Patterson Companies Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Patterson Companies (NASDAQ:PDCO)

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