Foundry Partners LLC Increases Stake in Patterson Companies, Inc. (PDCO)

Foundry Partners LLC grew its stake in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 51.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,555 shares of the company’s stock after purchasing an additional 8,000 shares during the period. Foundry Partners LLC’s holdings in Patterson Companies were worth $515,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in PDCO. Norges Bank bought a new stake in Patterson Companies during the fourth quarter worth about $17,939,000. Dimensional Fund Advisors LP boosted its stake in Patterson Companies by 36.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,085,525 shares of the company’s stock worth $60,662,000 after acquiring an additional 822,221 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in Patterson Companies by 1,913.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 649,645 shares of the company’s stock worth $33,000 after acquiring an additional 617,386 shares in the last quarter. Morgan Stanley boosted its stake in Patterson Companies by 64.8% during the third quarter. Morgan Stanley now owns 1,162,577 shares of the company’s stock worth $28,424,000 after acquiring an additional 457,312 shares in the last quarter. Finally, BlackRock Inc. boosted its stake in Patterson Companies by 4.9% during the fourth quarter. BlackRock Inc. now owns 9,795,267 shares of the company’s stock worth $192,575,000 after acquiring an additional 453,803 shares in the last quarter. 95.19% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Patterson Companies stock opened at $21.90 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.80 and a quick ratio of 0.89. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of 16.47, a PEG ratio of 2.77 and a beta of 1.34. Patterson Companies, Inc. has a 52-week low of $18.94 and a 52-week high of $26.60.

Patterson Companies (NASDAQ:PDCO) last issued its earnings results on Thursday, February 28th. The company reported $0.38 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.38. The business had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Patterson Companies had a net margin of 1.38% and a return on equity of 8.50%. During the same period in the previous year, the company earned $0.43 earnings per share. As a group, research analysts predict that Patterson Companies, Inc. will post 1.43 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, April 12th were issued a $0.26 dividend. The ex-dividend date of this dividend was Thursday, April 11th. This represents a $1.04 annualized dividend and a yield of 4.75%. Patterson Companies’s dividend payout ratio (DPR) is presently 61.90%.

PDCO has been the topic of several research reports. BidaskClub lowered shares of Patterson Companies from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 7th. Zacks Investment Research raised shares of Patterson Companies from a “sell” rating to a “hold” rating in a research note on Thursday, February 14th. ValuEngine raised shares of Patterson Companies from a “sell” rating to a “hold” rating in a research note on Friday, March 1st. Guggenheim initiated coverage on shares of Patterson Companies in a research note on Wednesday, April 17th. They set a “neutral” rating and a $23.00 price objective on the stock. Finally, UBS Group initiated coverage on shares of Patterson Companies in a research note on Thursday, January 17th. They set a “neutral” rating and a $23.00 price objective on the stock. Eight equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $21.86.

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Patterson Companies Company Profile

Patterson Companies, Inc distributes and sells dental and animal health products in the United States, the United Kingdom, and Canada. It operates through Dental and Animal Health segments. The company's Dental segment offers consumable products, such as infection control, restorative materials, hand instruments, and sterilization products; basic and advanced technology dental equipment; 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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