Dimensional Fund Advisors LP Cuts Stock Position in Patterson Companies, Inc. (NASDAQ:PDCO)

Dimensional Fund Advisors LP cut its holdings in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 3.2% in the 4th quarter, HoldingsChannel reports. The firm owned 4,562,310 shares of the company’s stock after selling 153,028 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Patterson Companies were worth $135,185,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. California Public Employees Retirement System raised its stake in shares of Patterson Companies by 4.7% during the 4th quarter. California Public Employees Retirement System now owns 203,894 shares of the company’s stock worth $6,041,000 after purchasing an additional 9,140 shares during the period. Contravisory Investment Management Inc. purchased a new stake in Patterson Companies during the fourth quarter worth about $166,000. Aperio Group LLC raised its position in Patterson Companies by 44.7% in the fourth quarter. Aperio Group LLC now owns 56,457 shares of the company’s stock worth $1,673,000 after acquiring an additional 17,452 shares during the period. Mission Wealth Management LP raised its position in Patterson Companies by 59.2% in the fourth quarter. Mission Wealth Management LP now owns 19,461 shares of the company’s stock worth $577,000 after acquiring an additional 7,234 shares during the period. Finally, Van ECK Associates Corp boosted its stake in Patterson Companies by 1.5% in the third quarter. Van ECK Associates Corp now owns 63,004 shares of the company’s stock valued at $1,519,000 after acquiring an additional 950 shares during the last quarter. 86.52% of the stock is owned by hedge funds and other institutional investors.

Separately, Zacks Investment Research cut shares of Patterson Companies from a “buy” rating to a “sell” rating and set a $33.00 price target on the stock. in a report on Tuesday, February 2nd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. Patterson Companies has an average rating of “Hold” and an average target price of $26.43.

In other Patterson Companies news, CFO Donald Zurbay sold 6,817 shares of the stock in a transaction that occurred on Friday, March 5th. The shares were sold at an average price of $30.10, for a total value of $205,191.70. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jody H. Feragen sold 10,052 shares of the stock in a transaction that occurred on Wednesday, January 13th. The stock was sold at an average price of $32.83, for a total transaction of $330,007.16. Following the completion of the sale, the director now owns 44,531 shares in the company, valued at $1,461,952.73. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

PDCO opened at $31.68 on Thursday. The firm has a 50-day moving average price of $31.75 and a 200-day moving average price of $29.81. Patterson Companies, Inc. has a twelve month low of $13.80 and a twelve month high of $36.88. The company has a quick ratio of 0.83, a current ratio of 1.54 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $3.06 billion, a price-to-earnings ratio of -5.88, a PEG ratio of 1.55 and a beta of 1.63.

Patterson Companies (NASDAQ:PDCO) last released its quarterly earnings data on Tuesday, March 2nd. The company reported $0.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.07. Patterson Companies had a negative net margin of 9.15% and a positive return on equity of 17.57%. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same period last year, the firm earned $0.47 EPS. Patterson Companies’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, sell-side analysts expect that Patterson Companies, Inc. will post 1.94 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, April 30th. Stockholders of record on Friday, April 16th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 3.28%. The ex-dividend date of this dividend is Thursday, April 15th. Patterson Companies’s dividend payout ratio (DPR) is presently 67.10%.

About Patterson Companies

Patterson Companies, Inc distributes and sells dental and animal health products in the United States, the United Kingdom, and Canada. It operates through three segments; Dental, Animal Health, and Corporate segments. The Dental segment offers consumable products, including infection control, restorative materials, hand instruments, and sterilization products; basic and advanced technology dental equipment; technology solutions, such as practice management software and e-commerce solutions; patient education systems; and office forms and stationery.

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Institutional Ownership by Quarter for Patterson Companies (NASDAQ:PDCO)

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