Patterson Companies, Inc. (NASDAQ:PDCO) Shares Sold by Quest Partners LLC

Quest Partners LLC cut its holdings in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 16.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,627 shares of the company’s stock after selling 913 shares during the period. Quest Partners LLC’s holdings in Patterson Companies were worth $101,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. Equity Investment Corp lifted its holdings in Patterson Companies by 10.6% in the third quarter. Equity Investment Corp now owns 1,739,669 shares of the company’s stock worth $37,994,000 after acquiring an additional 166,899 shares during the last quarter. Gladius Capital Management LP lifted its holdings in Patterson Companies by 277.6% in the third quarter. Gladius Capital Management LP now owns 11,079 shares of the company’s stock worth $242,000 after acquiring an additional 8,145 shares during the last quarter. Royce & Associates LP bought a new position in Patterson Companies in the third quarter worth about $6,807,000. Nicola Wealth Management LTD. lifted its holdings in Patterson Companies by 35.2% in the third quarter. Nicola Wealth Management LTD. now owns 176,800 shares of the company’s stock worth $3,861,000 after acquiring an additional 46,000 shares during the last quarter. Finally, KBC Group NV lifted its holdings in Patterson Companies by 32.7% in the third quarter. KBC Group NV now owns 2,757 shares of the company’s stock worth $60,000 after acquiring an additional 680 shares during the last quarter. 85.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PDCO has been the topic of a number of recent analyst reports. 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 report on Thursday, August 29th. Bank of America dropped their target price on Patterson Companies from $31.00 to $29.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. JPMorgan Chase & Co. lowered 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 report on Thursday, August 29th. UBS Group reduced their price objective 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 cut 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 report on Tuesday, October 8th. Eight investment 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 price target of $27.89.

Patterson Companies Price Performance

Shares of PDCO stock opened at $21.49 on Friday. The firm’s 50 day moving average is $20.96 and its 200-day moving average is $22.92. Patterson Companies, Inc. has a 1 year low of $19.45 and a 1 year high of $30.68. The firm has a market capitalization of $1.89 billion, a price-to-earnings ratio of 11.74, a PEG ratio of 1.56 and a beta of 1.02. The company has a current ratio of 1.30, a quick ratio of 0.67 and a debt-to-equity ratio of 0.34.

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 the consensus estimate 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 analyst estimates of $1.59 billion. During the same quarter in the prior year, the company earned $0.40 earnings per share. The company’s quarterly revenue was down 2.3% on a year-over-year basis. Sell-side analysts forecast that Patterson Companies, Inc. will post 2.32 EPS for the current fiscal year.

Patterson Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Wednesday, October 16th were issued a $0.26 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $1.04 annualized dividend and a yield of 4.84%. Patterson Companies’s dividend payout ratio 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.