Aviance Capital Partners LLC Boosts Stock Holdings in Patterson Companies, Inc. (NASDAQ:PDCO)

Aviance Capital Partners LLC grew its position in Patterson Companies, Inc. (NASDAQ:PDCO) by 8.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,985 shares of the company’s stock after purchasing an additional 2,265 shares during the period. Aviance Capital Partners LLC’s holdings in Patterson Companies were worth $829,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Patterson Companies by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 9,287,365 shares of the company’s stock worth $264,226,000 after purchasing an additional 26,685 shares during the period. Nordea Investment Management AB boosted its stake in Patterson Companies by 25.3% in the fourth quarter. Nordea Investment Management AB now owns 2,594,944 shares of the company’s stock valued at $73,852,000 after acquiring an additional 523,226 shares during the last quarter. Westwood Holdings Group Inc. grew its position in shares of 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 acquiring an additional 332,593 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Patterson Companies by 4.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,748,158 shares of the company’s stock worth $49,735,000 after purchasing an additional 78,134 shares during the last quarter. Finally, Brown Advisory Inc. lifted its stake in Patterson Companies by 11.2% in the fourth quarter. Brown Advisory Inc. now owns 1,547,278 shares of the company’s stock valued at $44,020,000 after purchasing an additional 156,402 shares during the last quarter. 85.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Patterson Companies Stock Performance

Shares of PDCO opened at $24.08 on Tuesday. The company has a current ratio of 1.33, a quick ratio of 0.75 and a debt-to-equity ratio of 0.33. The stock has a 50-day moving average price of $24.69 and a 200-day moving average price of $26.84. The company has a market cap of $2.11 billion, a PE ratio of 12.04, a price-to-earnings-growth ratio of 2.26 and a beta of 1.06. Patterson Companies, Inc. has a 12-month low of $22.29 and a 12-month high of $34.53.

Patterson Companies (NASDAQ:PDCO) last released its quarterly earnings results on Tuesday, June 18th. The company reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.01). Patterson Companies had a return on equity of 20.80% and a net margin of 2.83%. The company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.70 billion. During the same period in the prior year, the firm earned $0.84 EPS. Patterson Companies’s quarterly revenue was down .1% on a year-over-year basis. As a group, equities analysts forecast that Patterson Companies, Inc. will post 2.37 earnings per share for the current fiscal year.

Patterson Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 2nd. Stockholders of record on Friday, July 19th will be given a dividend of $0.26 per share. The ex-dividend date is Friday, July 19th. This represents a $1.04 annualized dividend and a dividend yield of 4.32%. Patterson Companies’s dividend payout ratio (DPR) is presently 52.00%.

Patterson Companies Company 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.