Patterson Companies, Inc. Declares Quarterly Dividend of $0.26 (NASDAQ:PDCO)

Patterson Companies, Inc. (NASDAQ:PDCO) declared a quarterly dividend on Tuesday, September 17th, Zacks reports. Investors of record on Friday, October 18th will be paid a dividend of 0.26 per share on Friday, November 1st. This represents a $1.04 annualized dividend and a yield of 4.67%. The ex-dividend date is Friday, October 18th.

Patterson Companies has a dividend payout ratio of 41.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Patterson Companies to earn $2.51 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 41.4%.

Patterson Companies Price Performance

Patterson Companies stock opened at $22.26 on Thursday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 0.67. The business has a 50 day simple moving average of $23.90 and a 200-day simple moving average of $24.86. Patterson Companies has a 12 month low of $19.96 and a 12 month high of $32.58. The stock has a market capitalization of $1.95 billion, a PE ratio of 10.98, a price-to-earnings-growth ratio of 1.53 and a beta of 1.02.

Patterson Companies (NASDAQ:PDCO) last announced its quarterly earnings data on Wednesday, August 28th. The company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.08). Patterson Companies had a net margin of 2.58% and a return on equity of 19.87%. The business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.59 billion. During the same period in the prior year, the firm posted $0.40 EPS. Patterson Companies’s revenue for the quarter was down 2.3% compared to the same quarter last year. Equities analysts predict that Patterson Companies will post 2.33 earnings per share for the current year.

Insider Buying and Selling

In other Patterson Companies news, CEO Donald Zurbay sold 7,216 shares of Patterson Companies stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $24.99, for a total value of $180,327.84. Following the completion of the transaction, the chief executive officer now directly owns 230,072 shares in the company, valued at $5,749,499.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Kevin Michael Barry sold 1,216 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $23.72, for a total transaction of $28,843.52. Following the completion of the transaction, the chief financial officer now owns 41,605 shares in the company, valued at $986,870.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Donald Zurbay sold 7,216 shares of the company’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $24.99, for a total transaction of $180,327.84. Following the completion of the transaction, the chief executive officer now owns 230,072 shares of the company’s stock, valued at approximately $5,749,499.28. The disclosure for this sale can be found here. Insiders have sold a total of 17,149 shares of company stock worth $415,851 over the last quarter. 1.50% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have recently commented on PDCO. Bank of America lowered their price target on shares of Patterson Companies from $31.00 to $29.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Robert W. Baird dropped their price target on Patterson Companies from $30.00 to $28.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. Evercore ISI reduced their price objective on Patterson Companies from $25.00 to $23.00 and set an “in-line” rating on the stock in a research report on Thursday, August 29th. Morgan Stanley decreased their price objective on Patterson Companies from $30.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Thursday, June 20th. Finally, StockNews.com downgraded shares of Patterson Companies from a “buy” rating to a “hold” rating in a research note on Saturday, June 1st. Nine research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Patterson Companies presently has an average rating of “Hold” and an average target price of $28.40.

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.