Nippon Life Global Investors Americas Inc. raised its stake in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 71.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 149,130 shares of the company’s stock after buying an additional 62,120 shares during the quarter. Nippon Life Global Investors Americas Inc.’s holdings in Patterson Companies were worth $3,416,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its stake in shares of Patterson Companies by 36.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,085,525 shares of the company’s stock worth $60,662,000 after purchasing an additional 822,221 shares during the last quarter. Gamco Investors INC. ET AL grew its holdings in Patterson Companies by 6.0% during the first quarter. Gamco Investors INC. ET AL now owns 1,906,285 shares of the company’s stock valued at $41,652,000 after purchasing an additional 108,421 shares during the period. LSV Asset Management grew its holdings in Patterson Companies by 14.7% during the first quarter. LSV Asset Management now owns 1,200,054 shares of the company’s stock valued at $26,221,000 after purchasing an additional 153,542 shares during the period. Geode Capital Management LLC grew its holdings in Patterson Companies by 1.3% during the fourth 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 period. Finally, Neuberger Berman Group LLC grew its holdings in Patterson Companies by 57.1% during the first quarter. Neuberger Berman Group LLC now owns 1,101,838 shares of the company’s stock valued at $24,071,000 after purchasing an additional 400,439 shares during the period. Institutional investors and hedge funds own 93.71% of the company’s stock.
Several analysts have issued reports on PDCO shares. JPMorgan Chase & Co. cut their price target on Patterson Companies from $22.00 to $20.00 and set an “underweight” rating for the company in a report on Friday, June 28th. Wolfe Research started coverage on Patterson Companies in a report on Thursday, May 30th. They set an “underperform” rating for the company. BidaskClub raised Patterson Companies from a “sell” rating to a “hold” rating in a report on Wednesday. UBS Group set a $24.00 price target on Patterson Companies and gave the company a “hold” rating in a report on Tuesday, June 25th. Finally, ValuEngine lowered Patterson Companies from a “hold” rating to a “sell” rating in a report on Friday, July 19th. Six research analysts have rated the stock with a sell rating and five have given a hold rating to the company. Patterson Companies presently has an average rating of “Sell” and an average target price of $21.63.
Patterson Companies (NASDAQ:PDCO) last released its quarterly earnings data on Thursday, June 27th. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03). The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.43 billion. Patterson Companies had a return on equity of 8.94% and a net margin of 1.50%. The business’s revenue was up 2.6% on a year-over-year basis. During the same period last year, the company earned $0.30 EPS. As a group, equities research analysts anticipate that Patterson Companies, Inc. will post 1.38 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 26th. Stockholders of record on Friday, July 12th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 5.41%. The ex-dividend date was Thursday, July 11th. Patterson Companies’s dividend payout ratio (DPR) is 74.29%.
Patterson Companies 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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