State of New Jersey Common Pension Fund D Decreases Holdings in Patterson Companies, Inc. (PDCO)

State of New Jersey Common Pension Fund D lowered its stake in Patterson Companies, Inc. (NASDAQ:PDCO) by 60.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 280,000 shares of the company’s stock after selling 420,000 shares during the period. State of New Jersey Common Pension Fund D owned 0.29% of Patterson Companies worth $5,505,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Tower Research Capital LLC TRC raised its stake in Patterson Companies by 542.0% during the third quarter. Tower Research Capital LLC TRC now owns 6,125 shares of the company’s stock worth $150,000 after purchasing an additional 5,171 shares during the period. Sapphire Star Partners LP purchased a new position in Patterson Companies during the third quarter worth about $171,000. Selective Wealth Management purchased a new position in Patterson Companies during the third quarter worth about $191,000. MML Investors Services LLC purchased a new position in Patterson Companies during the third quarter worth about $250,000. Finally, GHP Investment Advisors Inc. purchased a new stake in shares of Patterson Companies in the 3rd quarter valued at approximately $253,000.

NASDAQ PDCO opened at $22.82 on Thursday. The company has a quick ratio of 0.94, a current ratio of 1.76 and a debt-to-equity ratio of 0.51. Patterson Companies, Inc. has a 52 week low of $18.94 and a 52 week high of $32.73. The company has a market cap of $2.10 billion, a price-to-earnings ratio of 13.58, a PEG ratio of 2.76 and a beta of 1.35.

Patterson Companies (NASDAQ:PDCO) last issued its earnings results on Thursday, December 6th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.02. Patterson Companies had a net margin of 2.80% and a return on equity of 8.78%. The business had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter in the prior year, the business posted $0.51 EPS. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. As a group, research analysts expect that Patterson Companies, Inc. will post 1.43 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, January 25th. Stockholders of record on Friday, January 11th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 4.56%. The ex-dividend date was Thursday, January 10th. Patterson Companies’s payout ratio is 61.90%.

A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research reissued a “hold” rating on shares of Patterson Companies in a research note on Wednesday, November 14th. ValuEngine raised shares of Patterson Companies from a “sell” rating to a “hold” rating in a research note on Monday, November 12th. BidaskClub raised shares of Patterson Companies from a “hold” rating to a “buy” rating in a research note on Saturday, November 10th. Goldman Sachs Group started coverage on shares of Patterson Companies in a research note on Friday, October 19th. They issued a “sell” rating and a $19.00 price target on the stock. Finally, UBS Group started coverage on shares of Patterson Companies in a report on Thursday, January 17th. They issued a “neutral” rating and a $23.00 price objective for the company. Eight research analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $23.50.

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Patterson Companies Company Profile

Patterson Companies, Inc distributes and sells dental and animal health products in the United States, the United Kingdom, and Canada. It operates through Dental and Animal Health segments. The company's Dental segment offers consumable products, such as infection control, restorative materials, hand instruments, and sterilization products; basic and advanced technology dental equipment; patient education systems; and office forms and stationery.

Further Reading: What is a Leveraged Buyout (LBO)?

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

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