Mutual of America Capital Management LLC Trims Stock Position in Patterson Companies, Inc. (NASDAQ:PDCO)

Mutual of America Capital Management LLC decreased its holdings in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 10.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,799 shares of the company’s stock after selling 1,307 shares during the period. Mutual of America Capital Management LLC’s holdings in Patterson Companies were worth $258,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Royce & Associates LP purchased a new position in Patterson Companies in the third quarter worth $6,807,000. Nicola Wealth Management LTD. lifted its stake in shares of Patterson Companies by 35.2% during the 3rd quarter. Nicola Wealth Management LTD. now owns 176,800 shares of the company’s stock worth $3,861,000 after purchasing an additional 46,000 shares during the period. KBC Group NV increased its stake in shares of Patterson Companies by 32.7% during the 3rd quarter. KBC Group NV now owns 2,757 shares of the company’s stock valued at $60,000 after acquiring an additional 680 shares during the last quarter. Victory Capital Management Inc. raised its stake in Patterson Companies by 3.9% during the third quarter. Victory Capital Management Inc. now owns 383,949 shares of the company’s stock worth $8,385,000 after purchasing an additional 14,356 shares during the period. Finally, Chartwell Investment Partners LLC increased its stake in Patterson Companies by 32.9% during the third quarter. Chartwell Investment Partners LLC now owns 359,681 shares of the company’s stock worth $7,856,000 after acquiring an additional 88,968 shares during the last quarter. Hedge funds and other institutional investors own 85.43% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. UBS Group cut their price objective on Patterson Companies from $27.00 to $24.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. Bank of America decreased their target price on Patterson Companies from $31.00 to $29.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Robert W. Baird lowered their price objective on shares of 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 lowered their price target on shares of Patterson Companies from $23.00 to $22.00 and set an “in-line” rating for the company in a research report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Patterson Companies from $29.00 to $26.00 and set a “neutral” rating on the stock in a research note on Thursday, August 29th. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Patterson Companies currently has a consensus rating of “Hold” and a consensus price target of $27.89.

Patterson Companies Trading Down 0.1 %

NASDAQ:PDCO opened at $21.46 on Friday. Patterson Companies, Inc. has a 1-year low of $19.45 and a 1-year high of $31.76. 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 firm has a market capitalization of $1.89 billion, a price-to-earnings ratio of 11.73, a price-to-earnings-growth ratio of 1.57 and a beta of 1.02. The stock has a fifty day simple moving average of $20.96 and a 200 day simple moving average of $22.95.

Patterson Companies (NASDAQ:PDCO) last posted its quarterly earnings results on Wednesday, August 28th. The company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.08). The company had revenue of $1.54 billion during the quarter, compared to analysts’ expectations 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 for the quarter was down 2.3% compared to the same quarter last year. During the same period last year, the company earned $0.40 earnings per share. Sell-side analysts forecast that Patterson Companies, Inc. will post 2.32 earnings per share for the current year.

Patterson Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Wednesday, October 16th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $1.04 annualized dividend and a dividend yield of 4.85%. Patterson Companies’s dividend payout ratio is 56.83%.

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.