Allspring Global Investments Holdings LLC Buys 43,980 Shares of Patterson Companies, Inc. (NASDAQ:PDCO)

Allspring Global Investments Holdings LLC grew its stake in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 2.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,792,138 shares of the company’s stock after purchasing an additional 43,980 shares during the period. Allspring Global Investments Holdings LLC owned approximately 2.00% of Patterson Companies worth $49,553,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Norges Bank bought a new stake in Patterson Companies during the 4th quarter valued at approximately $26,162,000. Nordea Investment Management AB grew 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 worth $73,852,000 after purchasing an additional 523,226 shares during the period. Westwood Holdings Group Inc. raised its holdings in Patterson Companies by 17.0% in the fourth quarter. Westwood Holdings Group Inc. now owns 2,287,553 shares of the company’s stock worth $65,081,000 after purchasing an additional 332,593 shares in the last quarter. Brown Advisory Inc. lifted its position in Patterson Companies by 11.2% during the fourth quarter. Brown Advisory Inc. now owns 1,547,278 shares of the company’s stock valued at $44,020,000 after buying an additional 156,402 shares during the period. Finally, Sound Income Strategies LLC boosted its holdings in shares of Patterson Companies by 22.2% during the 4th quarter. Sound Income Strategies LLC now owns 561,445 shares of the company’s stock valued at $15,973,000 after buying an additional 101,860 shares in the last quarter. Hedge funds and other institutional investors own 85.43% of the company’s stock.

Patterson Companies Stock Down 0.1 %

Patterson Companies stock opened at $23.90 on Thursday. Patterson Companies, Inc. has a 12 month low of $22.29 and a 12 month high of $34.53. The stock has a fifty day simple moving average of $24.60 and a two-hundred day simple moving average of $26.80. 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 firm has a market cap of $2.10 billion, a price-to-earnings ratio of 11.95, a PEG ratio of 2.26 and a beta of 1.06.

Patterson Companies (NASDAQ:PDCO) last released its quarterly earnings data on Tuesday, June 18th. The company reported $0.82 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.01). The business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.70 billion. Patterson Companies had a return on equity of 20.80% and a net margin of 2.83%. Patterson Companies’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.84 earnings per share. Equities analysts predict that Patterson Companies, Inc. will post 2.37 EPS for the current fiscal year.

Patterson Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 2nd. Stockholders of record on Friday, July 19th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 4.35%. The ex-dividend date is Friday, July 19th. Patterson Companies’s dividend payout ratio (DPR) is presently 52.00%.

Analysts Set New Price Targets

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

About Patterson Companies

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.