Patterson Companies, Inc. (NASDAQ:PDCO) Shares Sold by American International Group Inc.

American International Group Inc. trimmed its stake in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 3.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 156,965 shares of the company’s stock after selling 5,100 shares during the quarter. American International Group Inc. owned 0.17% of Patterson Companies worth $4,466,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Neo Ivy Capital Management acquired a new position in Patterson Companies during the 4th quarter worth $97,000. Seven Eight Capital LP purchased a new stake in Patterson Companies during the 4th quarter worth about $1,233,000. Westwood Holdings Group Inc. lifted its holdings 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 worth $65,081,000 after buying an additional 332,593 shares during the last quarter. Waterloo Capital L.P. purchased a new stake in Patterson Companies during the 4th quarter worth about $229,000. Finally, Alberta Investment Management Corp lifted its holdings in Patterson Companies by 45.4% during the 4th quarter. Alberta Investment Management Corp now owns 46,100 shares of the company’s stock worth $1,312,000 after buying an additional 14,400 shares during the last quarter. 85.43% of the stock is owned by institutional investors and hedge funds.

Patterson Companies Price Performance

Shares of NASDAQ:PDCO opened at $24.31 on Friday. The business’s fifty day moving average price is $24.88 and its two-hundred day moving average price is $26.94. The stock has a market cap of $2.13 billion, a PE ratio of 12.16, a price-to-earnings-growth ratio of 2.03 and a beta of 1.07. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.72 and a current ratio of 1.33. Patterson Companies, Inc. has a one year low of $22.29 and a one year high of $34.53.

Patterson Companies (NASDAQ:PDCO) last issued its 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 firm had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.70 billion. During the same period last year, the business posted $0.84 earnings per share. The company’s quarterly revenue was down .1% compared to the same quarter last year. On average, analysts forecast that Patterson Companies, Inc. will post 2.37 EPS for the current fiscal year.

Patterson Companies Announces Dividend

The company 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. The ex-dividend date of this dividend is Friday, July 19th. This represents a $1.04 dividend on an annualized basis and a yield of 4.28%. Patterson Companies’s dividend payout ratio (DPR) is 52.00%.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Bank of America decreased their price target on Patterson Companies from $34.00 to $32.00 and set a “buy” rating for the company in a report on Monday, May 20th. Morgan Stanley reduced their target price on Patterson Companies from $30.00 to $28.00 and set an “equal weight” rating for the company in a report on Thursday. Evercore ISI reduced their target price on Patterson Companies from $28.00 to $27.00 and set an “in-line” rating for the company in a report on Friday, April 26th. StockNews.com downgraded Patterson Companies from a “buy” rating to a “hold” rating in a report on Saturday, June 1st. Finally, JPMorgan Chase & Co. reduced their target price on Patterson Companies from $30.00 to $29.00 and set a “neutral” rating for the company in a report on Thursday. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Patterson Companies presently has a consensus rating of “Hold” and a consensus price target of $30.25.

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.