Legal & General Group Plc Increases Stake in Patterson Companies, Inc. (NASDAQ:PDCO)

Legal & General Group Plc increased its stake in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 1.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 110,521 shares of the company’s stock after acquiring an additional 1,892 shares during the period. Legal & General Group Plc owned 0.12% of Patterson Companies worth $2,173,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Thrivent Financial for Lutherans grew its stake in Patterson Companies by 6.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 20,958 shares of the company’s stock valued at $412,000 after acquiring an additional 1,326 shares during the period. Jane Street Group LLC lifted its holdings in shares of Patterson Companies by 137.9% in the fourth quarter. Jane Street Group LLC now owns 30,063 shares of the company’s stock valued at $591,000 after purchasing an additional 17,427 shares in the last quarter. Municipal Employees Retirement System of Michigan bought a new stake in shares of Patterson Companies in the fourth quarter valued at about $390,000. Metropolitan Life Insurance Co. NY lifted its holdings in shares of Patterson Companies by 76.7% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 48,440 shares of the company’s stock valued at $952,000 after purchasing an additional 21,030 shares in the last quarter. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp lifted its holdings in shares of Patterson Companies by 24.5% in the fourth quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 507,900 shares of the company’s stock valued at $9,985,000 after purchasing an additional 100,000 shares in the last quarter. 95.36% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:PDCO traded down $0.23 on Friday, hitting $22.81. The company’s stock had a trading volume of 656,761 shares, compared to its average volume of 617,974. The company has a quick ratio of 0.89, a current ratio of 1.80 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $2.19 billion, a price-to-earnings ratio of 13.58, a P/E/G ratio of 2.72 and a beta of 1.33. Patterson Companies, Inc. has a one year low of $18.94 and a one year high of $26.60.

Patterson Companies (NASDAQ:PDCO) last released its quarterly earnings data on Thursday, February 28th. The company reported $0.38 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.38. The firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.40 billion. Patterson Companies had a return on equity of 8.50% and a net margin of 1.38%. During the same quarter in the prior year, the company earned $0.43 earnings per share. Equities research analysts expect that Patterson Companies, Inc. will post 1.43 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, April 12th were paid a $0.26 dividend. The ex-dividend date of this dividend was Thursday, April 11th. This represents a $1.04 annualized dividend and a yield of 4.56%. Patterson Companies’s dividend payout ratio is 61.90%.

PDCO has been the topic of a number of research reports. BidaskClub upgraded Patterson Companies from a “hold” rating to a “buy” rating in a report on Tuesday, April 30th. Zacks Investment Research upgraded Patterson Companies from a “sell” rating to a “hold” rating in a report on Thursday, February 14th. ValuEngine upgraded Patterson Companies from a “sell” rating to a “hold” rating in a report on Friday, March 1st. Guggenheim assumed coverage on Patterson Companies in a report on Wednesday, April 17th. They issued a “neutral” rating and a $23.00 price target on the stock. Finally, UBS Group assumed coverage on Patterson Companies in a report on Thursday, January 17th. They set a “neutral” rating and a $23.00 target price on the stock. Seven research analysts have rated the stock with a sell rating, five have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $21.86.

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About Patterson Companies

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.

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

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