Rockefeller Capital Management L.P. Invests $219,000 in Patterson Companies, Inc. (NASDAQ:PDCO)

Rockefeller Capital Management L.P. bought a new position in shares of Patterson Companies, Inc. (NASDAQ:PDCO) during the 3rd quarter, HoldingsChannel reports. The fund bought 10,034 shares of the company’s stock, valued at approximately $219,000.

Several other institutional investors and hedge funds have also made changes to their positions in PDCO. Miller Howard Investments Inc. NY lifted its holdings in Patterson Companies by 2.3% in the second quarter. Miller Howard Investments Inc. NY now owns 19,545 shares of the company’s stock valued at $471,000 after acquiring an additional 442 shares during the last quarter. KBC Group NV lifted its holdings in Patterson Companies by 32.7% in the third quarter. KBC Group NV now owns 2,757 shares of the company’s stock valued at $60,000 after acquiring an additional 680 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in Patterson Companies by 6.2% in the second quarter. Hsbc Holdings PLC now owns 14,184 shares of the company’s stock valued at $341,000 after acquiring an additional 828 shares during the last quarter. LRI Investments LLC lifted its holdings in Patterson Companies by 201.2% in the second quarter. LRI Investments LLC now owns 1,262 shares of the company’s stock valued at $30,000 after acquiring an additional 843 shares during the last quarter. Finally, Bfsg LLC lifted its stake in Patterson Companies by 8.2% during the third quarter. Bfsg LLC now owns 12,250 shares of the company’s stock worth $268,000 after purchasing an additional 925 shares in the last quarter. 85.43% of the stock is currently owned by institutional investors and hedge funds.

Patterson Companies Stock Up 35.9 %

Patterson Companies stock opened at $31.40 on Thursday. The firm has a market capitalization of $2.77 billion, a P/E ratio of 18.36, a P/E/G ratio of 1.69 and a beta of 1.00. The stock’s fifty day simple moving average is $21.30 and its 200-day simple moving average is $22.83. The company has a current ratio of 1.37, a quick ratio of 0.76 and a debt-to-equity ratio of 0.34. Patterson Companies, Inc. has a twelve month low of $19.45 and a twelve month high of $31.43.

Patterson Companies (NASDAQ:PDCO) last posted its earnings results on Thursday, December 5th. The company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.02). The business had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.65 billion. Patterson Companies had a net margin of 2.37% and a return on equity of 19.77%. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period last year, the company earned $0.50 EPS. As a group, equities analysts expect that Patterson Companies, Inc. will post 2.29 earnings per share for the current fiscal year.

Patterson Companies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Wednesday, October 16th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 3.31%. The ex-dividend date of this dividend was Friday, October 18th. Patterson Companies’s dividend payout ratio (DPR) is presently 60.82%.

Insider Activity at Patterson Companies

In other Patterson Companies news, CEO Donald Zurbay sold 1,962 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $23.08, for a total value of $45,282.96. Following the completion of the transaction, the chief executive officer now owns 222,736 shares in the company, valued at $5,140,746.88. This represents a 0.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on PDCO shares. Mizuho started coverage on Patterson Companies in a research note on Wednesday, December 4th. They set a “neutral” rating and a $23.00 price target on the stock. Bank of America decreased their price target on Patterson Companies from $31.00 to $29.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Evercore ISI decreased their price target on Patterson Companies from $23.00 to $22.00 and set an “in-line” rating on the stock in a research note on Tuesday, October 8th. Piper Sandler decreased their price target on Patterson Companies from $26.00 to $24.00 and set a “neutral” rating on the stock in a research note on Friday, December 6th. Finally, UBS Group decreased their price target on Patterson Companies from $27.00 to $24.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. Ten equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Patterson Companies has a consensus rating of “Hold” and an average target price of $25.64.

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.