Brokerages Set Patterson Companies, Inc. (NASDAQ:PDCO) Price Target at $33.11

Shares of Patterson Companies, Inc. (NASDAQ:PDCO) have earned an average recommendation of “Hold” from the seven brokerages that are currently covering the stock, Marketbeat reports. Five research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year target price among analysts that have covered the stock in the last year is $33.11.

Several equities research analysts recently commented on PDCO shares. Leerink Partnrs reissued an “outperform” rating on shares of Patterson Companies in a report on Monday, February 26th. The Goldman Sachs Group cut their price target on shares of Patterson Companies from $35.00 to $30.00 and set a “neutral” rating for the company in a report on Thursday, November 30th. Morgan Stanley cut their price target on shares of Patterson Companies from $38.00 to $35.00 and set an “equal weight” rating for the company in a report on Thursday, November 30th. JPMorgan Chase & Co. lowered their target price on shares of Patterson Companies from $31.00 to $30.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 6th. Finally, Piper Sandler cut shares of Patterson Companies from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $34.00 to $28.00 in a research note on Thursday, February 29th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of PDCO. Money Concepts Capital Corp boosted its position in shares of Patterson Companies by 195.7% during the 4th quarter. Money Concepts Capital Corp now owns 902 shares of the company’s stock valued at $25,000 after acquiring an additional 597 shares during the last quarter. Quarry LP boosted its position in shares of Patterson Companies by 499.4% during the 1st quarter. Quarry LP now owns 1,001 shares of the company’s stock valued at $27,000 after acquiring an additional 834 shares during the last quarter. GAMMA Investing LLC acquired a new position in shares of Patterson Companies during the 4th quarter valued at about $32,000. KBC Group NV acquired a new position in shares of Patterson Companies during the 4th quarter valued at about $32,000. Finally, Fifth Third Bancorp lifted its position in Patterson Companies by 54.8% in the third quarter. Fifth Third Bancorp now owns 1,226 shares of the company’s stock valued at $36,000 after buying an additional 434 shares during the last quarter. Institutional investors and hedge funds own 85.43% of the company’s stock.

Patterson Companies Price Performance

NASDAQ:PDCO opened at $27.65 on Friday. The firm has a market cap of $2.48 billion, a price-to-earnings ratio of 13.62, a price-to-earnings-growth ratio of 1.42 and a beta of 1.06. The company has a 50 day moving average price of $28.27 and a 200-day moving average price of $29.00. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.43 and a quick ratio of 0.72. Patterson Companies has a 1-year low of $25.00 and a 1-year high of $34.53.

Patterson Companies (NASDAQ:PDCO) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $0.59 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.01). The company had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Patterson Companies had a return on equity of 20.98% and a net margin of 2.95%. Patterson Companies’s revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.62 EPS. Equities research analysts forecast that Patterson Companies will post 2.32 EPS for the current year.

Patterson Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 3rd. Stockholders of record on Friday, April 19th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $1.04 annualized dividend and a dividend yield of 3.76%. Patterson Companies’s payout ratio is 51.23%.

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.