Blue Trust Inc. Acquires 417 Shares of Patterson Companies, Inc. (NASDAQ:PDCO)

Blue Trust Inc. lifted its holdings in Patterson Companies, Inc. (NASDAQ:PDCO) by 18.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,738 shares of the company’s stock after purchasing an additional 417 shares during the quarter. Blue Trust Inc.’s holdings in Patterson Companies were worth $84,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in PDCO. Allspring Global Investments Holdings LLC increased its stake in Patterson Companies by 13.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,183,940 shares of the company’s stock valued at $47,697,000 after buying an additional 258,042 shares during the last quarter. River Road Asset Management LLC grew its holdings in shares of Patterson Companies by 3.6% in the 3rd quarter. River Road Asset Management LLC now owns 1,988,217 shares of the company’s stock valued at $43,423,000 after acquiring an additional 68,947 shares in the last quarter. Equity Investment Corp increased its position in shares of Patterson Companies by 10.6% in the third quarter. Equity Investment Corp now owns 1,739,669 shares of the company’s stock valued at $37,994,000 after acquiring an additional 166,899 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Patterson Companies by 5.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,554,566 shares of the company’s stock worth $33,952,000 after acquiring an additional 81,524 shares in the last quarter. Finally, Private Management Group Inc. boosted its position in Patterson Companies by 5.8% during the third quarter. Private Management Group Inc. now owns 1,515,255 shares of the company’s stock valued at $33,093,000 after purchasing an additional 83,589 shares during the last quarter. Institutional investors own 85.43% of the company’s stock.

Insider Activity at Patterson Companies

In other Patterson Companies news, CEO Donald Zurbay sold 1,962 shares of Patterson Companies stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $23.08, for a total value of $45,282.96. Following the completion of the sale, the chief executive officer now owns 222,736 shares in the company, valued at $5,140,746.88. The trade was a 0.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

PDCO has been the topic of several recent analyst reports. Piper Sandler lowered their price target on Patterson Companies from $26.00 to $24.00 and set a “neutral” rating on the stock in a research report on Friday, December 6th. Leerink Partners restated a “market perform” rating and set a $31.35 target price (up from $29.00) on shares of Patterson Companies in a report on Wednesday, December 11th. StockNews.com initiated coverage on shares of Patterson Companies in a research note on Friday. They issued a “hold” rating for the company. Morgan Stanley boosted their price objective on shares of Patterson Companies from $27.00 to $31.35 and gave the stock an “equal weight” rating in a research note on Tuesday, December 17th. Finally, Stifel Nicolaus cut their target price on shares of Patterson Companies from $25.00 to $24.00 and set a “hold” rating for the company in a research note on Thursday, December 5th. Eleven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $26.57.

Patterson Companies Trading Down 0.1 %

Shares of NASDAQ:PDCO opened at $31.00 on Friday. Patterson Companies, Inc. has a 12-month low of $19.45 and a 12-month high of $31.79. The business has a 50 day moving average of $29.55 and a 200-day moving average of $24.77. The company has a quick ratio of 0.76, a current ratio of 1.37 and a debt-to-equity ratio of 0.34. The stock has a market cap of $2.74 billion, a PE ratio of 18.13, a P/E/G ratio of 2.70 and a beta of 0.90.

Patterson Companies (NASDAQ:PDCO) last released its quarterly earnings results on Thursday, December 5th. The company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.02). The firm had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.65 billion. Patterson Companies had a net margin of 2.37% and a return on equity of 19.77%. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.50 earnings per share. As a group, equities research analysts forecast that Patterson Companies, Inc. will post 2.25 earnings per share for the current year.

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.