Collective Family Office LLC Sells 1,855 Shares of Patterson Companies, Inc. (NASDAQ:PDCO)

Collective Family Office LLC decreased its position in Patterson Companies, Inc. (NASDAQ:PDCO) by 19.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,880 shares of the company’s stock after selling 1,855 shares during the quarter. Collective Family Office LLC’s holdings in Patterson Companies were worth $218,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PDCO. Vanguard Group Inc. raised its stake in Patterson Companies by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 9,287,365 shares of the company’s stock valued at $264,226,000 after buying an additional 26,685 shares during the last quarter. Neo Ivy Capital Management bought a new position in Patterson Companies in the 4th quarter worth about $97,000. Seven Eight Capital LP purchased a new stake in Patterson Companies during the 4th quarter valued at about $1,233,000. Westwood Holdings Group Inc. increased its stake in Patterson Companies by 17.0% during the 4th quarter. Westwood Holdings Group Inc. now owns 2,287,553 shares of the company’s stock valued at $65,081,000 after purchasing an additional 332,593 shares in the last quarter. Finally, Waterloo Capital L.P. purchased a new position in Patterson Companies in the fourth quarter worth about $229,000. Hedge funds and other institutional investors own 85.43% of the company’s stock.

Patterson Companies Stock Performance

Shares of NASDAQ:PDCO opened at $24.14 on Friday. The company has a current ratio of 1.33, a quick ratio of 0.72 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $2.16 billion, a price-to-earnings ratio of 12.07, a PEG ratio of 2.10 and a beta of 1.07. Patterson Companies, Inc. has a 12 month low of $22.29 and a 12 month high of $34.53. The firm’s 50-day moving average is $24.90 and its 200 day moving average is $26.95.

Patterson Companies (NASDAQ:PDCO) last issued its quarterly earnings results on Tuesday, June 18th. The company reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.01). Patterson Companies had a return on equity of 20.80% and a net margin of 2.83%. The business had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.70 billion. During the same quarter in the previous year, the company posted $0.84 earnings per share. The company’s quarterly revenue was down .1% compared to the same quarter last year. Research analysts predict that Patterson Companies, Inc. will post 2.41 EPS for the current year.

Patterson Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 2nd. Investors of record on Friday, July 19th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 4.31%. The ex-dividend date is Friday, July 19th. Patterson Companies’s dividend payout ratio is presently 52.00%.

Wall Street Analysts Forecast Growth

PDCO has been the subject of several analyst reports. Bank of America reduced their price target on shares of Patterson Companies from $34.00 to $32.00 and set a “buy” rating for the company in a research report on Monday, May 20th. StockNews.com downgraded Patterson Companies from a “buy” rating to a “hold” rating in a report on Saturday, June 1st. JPMorgan Chase & Co. dropped their price objective on Patterson Companies from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Thursday. SVB Leerink started coverage on Patterson Companies in a research report on Monday, February 26th. They issued an “outperform” rating and a $36.00 target price for the company. Finally, Piper Sandler downgraded shares of Patterson Companies from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $34.00 to $28.00 in a report on Thursday, February 29th. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $30.78.

Patterson Companies Profile

Patterson Companies, Inc engages in the distribution of dental and animal health products in the United States, the United Kingdom, and Canada. The company operates through three segments: Dental, Animal Health, and Corporate segments. The Dental segment offers consumable products, including infection control, restorative materials, and instruments; basic and advanced technology and dental equipment; practice optimization solutions, such as practice management software, e-commerce, revenue cycle management, patient engagement solutions, and clinical and patient education systems.