Amalgamated Bank Cuts Stake in Patterson Companies, Inc. (NASDAQ:PDCO)

Amalgamated Bank lessened its holdings in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 5.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,288 shares of the company’s stock after selling 1,234 shares during the period. Amalgamated Bank’s holdings in Patterson Companies were worth $509,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. LRI Investments LLC grew its stake in Patterson Companies by 201.2% during the 2nd quarter. LRI Investments LLC now owns 1,262 shares of the company’s stock valued at $30,000 after acquiring an additional 843 shares in the last quarter. Mather Group LLC. grew its stake in Patterson Companies by 1,376.1% during the 2nd quarter. Mather Group LLC. now owns 1,609 shares of the company’s stock valued at $39,000 after acquiring an additional 1,500 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in Patterson Companies during the 2nd quarter valued at about $41,000. Family Firm Inc. purchased a new stake in Patterson Companies during the 2nd quarter valued at about $45,000. Finally, Meeder Asset Management Inc. purchased a new stake in Patterson Companies during the 2nd quarter valued at about $45,000. Hedge funds and other institutional investors own 85.43% of the company’s stock.

Patterson Companies Stock Performance

NASDAQ:PDCO opened at $19.75 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.67 and a current ratio of 1.30. The stock has a market capitalization of $1.74 billion, a P/E ratio of 10.79, a PEG ratio of 1.46 and a beta of 1.02. The company has a 50 day moving average price of $21.05 and a 200 day moving average price of $23.25. Patterson Companies, Inc. has a fifty-two week low of $19.45 and a fifty-two week high of $32.58.

Patterson Companies (NASDAQ:PDCO) last posted 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). The company had revenue of $1.54 billion for 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%. The business’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.40 EPS. Equities research analysts forecast that Patterson Companies, Inc. will post 2.32 EPS for the current year.

Patterson Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Wednesday, October 16th were given a $0.26 dividend. The ex-dividend date was Friday, October 18th. This represents a $1.04 annualized dividend and a yield of 5.27%. Patterson Companies’s dividend payout ratio is presently 56.83%.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Robert W. Baird dropped 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 note on Thursday, August 29th. JPMorgan Chase & Co. dropped their price target on shares of Patterson Companies from $29.00 to $26.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th. Bank of America dropped their price target on shares of Patterson Companies from $31.00 to $29.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. UBS Group dropped their price target on shares of Patterson Companies from $27.00 to $24.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. Finally, Evercore ISI dropped 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 note on Tuesday, October 8th. Nine research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Patterson Companies presently has a consensus rating of “Hold” and a consensus target price of $28.30.

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.