K.J. Harrison & Partners Inc Takes Position in Patterson Companies, Inc. (NASDAQ:PDCO)

K.J. Harrison & Partners Inc purchased a new stake in Patterson Companies, Inc. (NASDAQ:PDCO) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 25,000 shares of the company’s stock, valued at approximately $711,000.

A number of other large investors have also added to or reduced their stakes in the business. Meritage Portfolio Management raised its stake in Patterson Companies by 29.4% in the 4th quarter. Meritage Portfolio Management now owns 104,092 shares of the company’s stock valued at $2,961,000 after acquiring an additional 23,629 shares during the period. Atria Wealth Solutions Inc. bought a new position in shares of Patterson Companies in the fourth quarter worth $242,000. GAMMA Investing LLC bought a new position in shares of Patterson Companies in the fourth quarter worth $32,000. Duality Advisers LP acquired a new stake in Patterson Companies in the fourth quarter valued at about $1,866,000. Finally, Hussman Strategic Advisors Inc. boosted its stake in Patterson Companies by 100.0% in the fourth quarter. Hussman Strategic Advisors Inc. now owns 105,000 shares of the company’s stock valued at $2,987,000 after buying an additional 52,500 shares in the last quarter. Institutional investors own 85.43% of the company’s stock.

Patterson Companies Trading Down 0.1 %

Shares of Patterson Companies stock traded down $0.03 during midday trading on Friday, reaching $25.77. The company had a trading volume of 453,559 shares, compared to its average volume of 580,553. The firm has a market cap of $2.31 billion, a PE ratio of 12.69, a P/E/G ratio of 1.36 and a beta of 1.06. The stock has a fifty day moving average price of $26.88 and a 200 day moving average price of $28.54. 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, Inc. has a fifty-two week low of $25.00 and a fifty-two week high of $34.53.

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

Patterson Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 3rd. Stockholders of record on Friday, April 19th will be issued 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 4.04%. Patterson Companies’s dividend payout ratio is 51.23%.

Analysts Set New Price Targets

PDCO has been the topic of several research analyst reports. SVB Leerink initiated coverage on Patterson Companies in a research note on Monday, February 26th. They issued an “outperform” rating and a $36.00 price objective on the stock. Leerink Partnrs reaffirmed an “outperform” rating on shares of Patterson Companies in a research note on Monday, February 26th. JPMorgan Chase & Co. reduced their price objective on Patterson Companies from $31.00 to $30.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 6th. Evercore ISI reduced their price objective on Patterson Companies from $28.00 to $27.00 and set an “in-line” rating on the stock in a research note on Friday. Finally, Piper Sandler lowered Patterson Companies from an “overweight” rating to a “neutral” rating and cut their price target for the company from $34.00 to $28.00 in a research note on Thursday, February 29th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $32.56.

Patterson Companies Profile

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.