MetLife Investment Advisors LLC grew its position in Patterson Companies, Inc. (NASDAQ:PDCO) by 75.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 89,130 shares of the company’s stock after acquiring an additional 38,240 shares during the quarter. MetLife Investment Advisors LLC owned 0.09% of Patterson Companies worth $2,021,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Tyers Asset Management LLC increased its holdings in Patterson Companies by 58.0% during the 2nd quarter. Tyers Asset Management LLC now owns 6,624 shares of the company’s stock valued at $150,000 after purchasing an additional 2,432 shares in the last quarter. Mutual of America Capital Management LLC increased its stake in shares of Patterson Companies by 4.0% in the 2nd quarter. Mutual of America Capital Management LLC now owns 69,978 shares of the company’s stock valued at $1,586,000 after buying an additional 2,665 shares during the period. SG Americas Securities LLC increased its stake in shares of Patterson Companies by 9.8% in the 2nd quarter. SG Americas Securities LLC now owns 31,159 shares of the company’s stock valued at $706,000 after buying an additional 2,779 shares during the period. Baird Financial Group Inc. increased its stake in shares of Patterson Companies by 2.4% in the 2nd quarter. Baird Financial Group Inc. now owns 121,095 shares of the company’s stock valued at $2,745,000 after buying an additional 2,798 shares during the period. Finally, GAM Holding AG increased its stake in shares of Patterson Companies by 2.9% in the 2nd quarter. GAM Holding AG now owns 100,640 shares of the company’s stock valued at $2,282,000 after buying an additional 2,800 shares during the period. Institutional investors own 90.51% of the company’s stock.
PDCO stock opened at $23.66 on Wednesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.87 and a current ratio of 1.79. The stock has a market cap of $2.32 billion, a price-to-earnings ratio of 14.08, a price-to-earnings-growth ratio of 3.39 and a beta of 1.06. Patterson Companies, Inc. has a 1-year low of $20.22 and a 1-year high of $40.36.
Patterson Companies (NASDAQ:PDCO) last posted its earnings results on Thursday, August 30th. The company reported $0.26 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.08). The business had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.30 billion. Patterson Companies had a return on equity of 9.71% and a net margin of 3.01%. The business’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.44 earnings per share. Analysts predict that Patterson Companies, Inc. will post 1.43 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 26th. Shareholders of record on Friday, October 12th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, October 11th. This represents a $1.04 annualized dividend and a yield of 4.40%. Patterson Companies’s dividend payout ratio is presently 61.90%.
Several research firms have recently commented on PDCO. Zacks Investment Research raised Patterson Companies from a “strong sell” rating to a “hold” rating in a research note on Monday, June 25th. ValuEngine cut Patterson Companies from a “hold” rating to a “sell” rating in a research note on Tuesday, October 2nd. Morgan Stanley lifted their target price on Patterson Companies from $20.00 to $21.00 and gave the company an “underweight” rating in a research note on Friday, June 22nd. BidaskClub cut Patterson Companies from a “buy” rating to a “hold” rating in a research note on Thursday, September 27th. Finally, Stifel Nicolaus decreased their price objective on Patterson Companies from $28.00 to $23.00 and set a “hold” rating for the company in a research note on Monday, June 18th. Seven equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. Patterson Companies presently has a consensus rating of “Hold” and an average target price of $26.19.
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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