New Mexico Educational Retirement Board Cuts Position in Patterson Companies, Inc. (PDCO)

New Mexico Educational Retirement Board cut its stake in Patterson Companies, Inc. (NASDAQ:PDCO) by 12.6% in the 4th quarter, HoldingsChannel reports. The fund owned 16,700 shares of the company’s stock after selling 2,400 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Patterson Companies were worth $328,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. BlackRock Inc. raised its stake in shares of Patterson Companies by 3.8% during the third quarter. BlackRock Inc. now owns 9,341,464 shares of the company’s stock valued at $228,399,000 after acquiring an additional 338,299 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Patterson Companies by 1.7% during the third quarter. Vanguard Group Inc. now owns 7,665,535 shares of the company’s stock valued at $187,422,000 after acquiring an additional 129,571 shares during the last quarter. Vanguard Group Inc raised its stake in shares of Patterson Companies by 1.7% during the third quarter. Vanguard Group Inc now owns 7,665,535 shares of the company’s stock valued at $187,422,000 after acquiring an additional 129,571 shares during the last quarter. FMR LLC raised its stake in shares of Patterson Companies by 100.5% during the second quarter. FMR LLC now owns 4,692,969 shares of the company’s stock valued at $106,389,000 after acquiring an additional 2,352,041 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Patterson Companies by 4.7% during the second quarter. Bank of New York Mellon Corp now owns 2,773,689 shares of the company’s stock valued at $62,879,000 after acquiring an additional 124,738 shares during the last quarter.

Several brokerages have recently commented on PDCO. Zacks Investment Research reaffirmed a “hold” rating on shares of Patterson Companies in a research note on Wednesday, November 14th. ValuEngine raised shares of Patterson Companies from a “sell” rating to a “hold” rating in a research note on Monday, November 12th. BidaskClub raised shares of Patterson Companies from a “hold” rating to a “buy” rating in a research note on Saturday, November 10th. Goldman Sachs Group began coverage on shares of Patterson Companies in a research note on Friday, October 19th. They set a “sell” rating and a $19.00 price objective for the company. Finally, UBS Group began 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 for the company. Eight equities research analysts have rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $23.50.

PDCO stock opened at $22.47 on Tuesday. Patterson Companies, Inc. has a 1 year low of $18.94 and a 1 year high of $34.19. The stock has a market capitalization of $2.10 billion, a P/E ratio of 13.38, a P/E/G ratio of 2.76 and a beta of 1.35. The company has a quick ratio of 0.94, a current ratio of 1.76 and a debt-to-equity ratio of 0.51.

Patterson Companies (NASDAQ:PDCO) last released its quarterly earnings results on Thursday, December 6th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.02. Patterson Companies had a net margin of 2.80% and a return on equity of 8.78%. The company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the prior year, the firm earned $0.51 earnings per share. Patterson Companies’s revenue was up 1.4% on a year-over-year basis. On average, equities analysts anticipate that Patterson Companies, Inc. will post 1.43 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, January 25th. Investors of record on Friday, January 11th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 4.63%. The ex-dividend date of this dividend was Thursday, January 10th. Patterson Companies’s payout ratio is currently 61.90%.

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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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