State of New Jersey Common Pension Fund D Boosts Stake in Patterson Companies, Inc. (NASDAQ:PDCO)

State of New Jersey Common Pension Fund D increased its position in Patterson Companies, Inc. (NASDAQ:PDCO) by 7.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 300,000 shares of the company’s stock after acquiring an additional 20,000 shares during the period. State of New Jersey Common Pension Fund D owned about 0.31% of Patterson Companies worth $6,870,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of PDCO. Dimensional Fund Advisors LP lifted its holdings in Patterson Companies by 36.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,085,525 shares of the company’s stock valued at $60,662,000 after purchasing an additional 822,221 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Patterson Companies by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 1,176,592 shares of the company’s stock valued at $23,130,000 after purchasing an additional 15,646 shares during the last quarter. Bank of America Corp DE lifted its holdings in Patterson Companies by 40.4% during the 4th quarter. Bank of America Corp DE now owns 232,805 shares of the company’s stock valued at $4,577,000 after purchasing an additional 67,025 shares during the last quarter. Municipal Employees Retirement System of Michigan acquired a new stake in Patterson Companies during the 4th quarter valued at $390,000. Finally, Jane Street Group LLC lifted its holdings in Patterson Companies by 137.9% during the 4th 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 during the last quarter. 93.71% of the stock is owned by institutional investors.

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. dropped their target price on Patterson Companies from $22.00 to $20.00 and set an “underweight” rating for the company in a report on Friday, June 28th. BidaskClub raised Patterson Companies from a “sell” rating to a “hold” rating in a report on Wednesday. UBS Group set a $24.00 target price on Patterson Companies and gave the stock a “hold” rating in a report on Tuesday, June 25th. ValuEngine downgraded Patterson Companies from a “hold” rating to a “sell” rating in a report on Friday, July 19th. Finally, Guggenheim assumed coverage on Patterson Companies in a report on Wednesday, April 17th. They set a “neutral” rating and a $23.00 target price for the company. Six investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The stock currently has a consensus rating of “Sell” and an average target price of $21.63.

Shares of PDCO traded down $0.33 during midday trading on Thursday, reaching $19.47. 58,776 shares of the stock were exchanged, compared to its average volume of 1,254,697. Patterson Companies, Inc. has a twelve month low of $18.94 and a twelve month high of $26.60. The company has a current ratio of 1.83, a quick ratio of 0.96 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $1.88 billion, a P/E ratio of 13.89, a P/E/G ratio of 2.10 and a beta of 1.29. The firm has a 50 day moving average of $21.81.

Patterson Companies (NASDAQ:PDCO) last posted its quarterly earnings results on Thursday, June 27th. The company reported $0.37 EPS for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.03). The company had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.43 billion. Patterson Companies had a net margin of 1.50% and a return on equity of 8.94%. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period last year, the firm earned $0.30 EPS. Research analysts expect that Patterson Companies, Inc. will post 1.38 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, July 26th. Investors of record on Friday, July 12th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 5.34%. The ex-dividend date was Thursday, July 11th. Patterson Companies’s dividend payout ratio (DPR) is presently 74.29%.

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.

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

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