Raymond James Financial Services Advisors Inc. Acquires 732 Shares of Patterson Companies, Inc. (NASDAQ:PDCO)

Raymond James Financial Services Advisors Inc. raised its position in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 4.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,532 shares of the company’s stock after purchasing an additional 732 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Patterson Companies were worth $442,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in PDCO. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Patterson Companies by 27.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,773 shares of the company’s stock worth $50,000 after buying an additional 377 shares during the period. Captrust Financial Advisors increased its holdings in shares of Patterson Companies by 28.7% in the second 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. LPL Financial LLC increased its holdings in shares of Patterson Companies by 3.2% in the fourth quarter. LPL Financial LLC now owns 13,248 shares of the company’s stock worth $371,000 after buying an additional 406 shares during the period. Fifth Third Bancorp increased its holdings in shares of Patterson Companies by 54.8% in the third quarter. Fifth Third Bancorp now owns 1,226 shares of the company’s stock worth $36,000 after buying an additional 434 shares during the period. Finally, Commonwealth Equity Services LLC increased its holdings in shares of Patterson Companies by 2.8% in the third quarter. Commonwealth Equity Services LLC now owns 16,670 shares of the company’s stock worth $400,000 after buying an additional 452 shares during the period. Hedge funds and other institutional investors own 85.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PDCO. Piper Sandler cut Patterson Companies from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $34.00 to $28.00 in a research note on Thursday, February 29th. SVB Leerink began coverage on Patterson Companies in a research note on Monday, February 26th. They issued an “outperform” rating and a $36.00 target price on the stock. JPMorgan Chase & Co. cut their target price on Patterson Companies from $31.00 to $30.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 6th. Finally, Leerink Partnrs reissued an “outperform” rating on shares of Patterson Companies in a research note on Monday, February 26th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $33.11.

Patterson Companies Stock Performance

Shares of PDCO opened at $26.02 on Friday. The company has a quick ratio of 0.72, a current ratio of 1.43 and a debt-to-equity ratio of 0.46. The business’s 50 day moving average price is $27.13 and its 200-day moving average price is $28.65. Patterson Companies, Inc. has a 52 week low of $25.00 and a 52 week high of $34.53. The stock has a market cap of $2.33 billion, a P/E ratio of 12.82, a P/E/G ratio of 1.34 and a beta of 1.06.

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 analysts’ consensus estimates of $0.60 by ($0.01). Patterson Companies had a return on equity of 20.98% and a net margin of 2.95%. The firm had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter in the previous year, the firm earned $0.62 earnings per share. Patterson Companies’s revenue was up .9% on a year-over-year basis. Equities research analysts anticipate that Patterson Companies, Inc. will post 2.32 earnings per share for the current fiscal year.

Patterson Companies Announces Dividend

The company 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. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $1.04 dividend on an annualized basis and a yield of 4.00%. Patterson Companies’s payout ratio is currently 51.23%.

Patterson Companies 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.