KBC Group NV Raises Position in Patterson Companies, Inc. (NASDAQ:PDCO)

KBC Group NV increased its position in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 32.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,757 shares of the company’s stock after purchasing an additional 680 shares during the quarter. KBC Group NV’s holdings in Patterson Companies were worth $60,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. LRI Investments LLC lifted its stake in Patterson Companies by 201.2% in the second quarter. LRI Investments LLC now owns 1,262 shares of the company’s stock valued at $30,000 after purchasing an additional 843 shares during the last quarter. Mather Group LLC. grew its stake in Patterson Companies by 1,376.1% in the 2nd quarter. Mather Group LLC. now owns 1,609 shares of the company’s stock worth $39,000 after buying an additional 1,500 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in Patterson Companies in the second quarter valued at $41,000. Family Firm Inc. bought a new position in Patterson Companies during the second quarter valued at approximately $45,000. Finally, Meeder Asset Management Inc. bought a new position in shares of Patterson Companies during the 2nd quarter valued at $45,000. 85.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. UBS Group decreased their price target on Patterson Companies from $27.00 to $24.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. JPMorgan Chase & Co. lowered their price objective on shares of Patterson Companies from $29.00 to $26.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. Bank of America dropped their target price on shares of Patterson Companies from $31.00 to $29.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Robert W. Baird cut their price target on Patterson Companies from $30.00 to $28.00 and set a “neutral” rating on the stock in a research note on Thursday, August 29th. Finally, Evercore ISI reduced their price objective on shares of Patterson Companies from $23.00 to $22.00 and set an “in-line” rating for the company in a research note on Tuesday, October 8th. Nine equities 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.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $28.30.

Patterson Companies Price Performance

Shares of NASDAQ:PDCO opened at $20.46 on Friday. The firm’s 50 day moving average price is $21.00 and its 200-day moving average price is $23.07. The company has a quick ratio of 0.67, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $1.80 billion, a PE ratio of 11.18, a price-to-earnings-growth ratio of 1.48 and a beta of 1.02. Patterson Companies, Inc. has a twelve month low of $19.45 and a twelve month high of $32.58.

Patterson Companies (NASDAQ:PDCO) last released its earnings results on Wednesday, August 28th. The company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.08). The firm had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.59 billion. Patterson Companies had a return on equity of 19.87% and a net margin of 2.58%. Patterson Companies’s revenue was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.40 EPS. Equities research analysts expect that Patterson Companies, Inc. will post 2.32 EPS for the current year.

Patterson Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Wednesday, October 16th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 5.08%. The ex-dividend date was Friday, October 18th. Patterson Companies’s dividend payout ratio (DPR) is currently 56.83%.

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.