Barclays PLC Raises Stock Position in Patterson Companies, Inc. (NASDAQ:PDCO)

Barclays PLC lifted its stake in Patterson Companies, Inc. (NASDAQ:PDCO) by 37.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 165,715 shares of the company’s stock after buying an additional 44,906 shares during the period. Barclays PLC owned approximately 0.19% of Patterson Companies worth $3,619,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PDCO. Dimensional Fund Advisors LP grew its holdings in shares of Patterson Companies by 0.6% during the second quarter. Dimensional Fund Advisors LP now owns 3,915,315 shares of the company’s stock worth $94,436,000 after purchasing an additional 23,344 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Patterson Companies by 13.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,183,940 shares of the company’s stock valued at $47,697,000 after purchasing an additional 258,042 shares during the period. River Road Asset Management LLC grew its stake in Patterson Companies by 3.6% during the 3rd quarter. River Road Asset Management LLC now owns 1,988,217 shares of the company’s stock worth $43,423,000 after buying an additional 68,947 shares during the last quarter. Equity Investment Corp increased its position in Patterson Companies by 10.6% during the third quarter. Equity Investment Corp now owns 1,739,669 shares of the company’s stock worth $37,994,000 after buying an additional 166,899 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Patterson Companies by 5.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,554,566 shares of the company’s stock valued at $33,952,000 after buying an additional 81,524 shares during the last quarter. 85.43% of the stock is currently owned by institutional investors and hedge funds.

Patterson Companies Price Performance

Patterson Companies stock opened at $30.86 on Monday. The company has a market cap of $2.73 billion, a P/E ratio of 18.05, a price-to-earnings-growth ratio of 2.70 and a beta of 1.00. Patterson Companies, Inc. has a one year low of $19.45 and a one year high of $31.79. The business has a fifty day moving average of $22.79 and a two-hundred day moving average of $23.15. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.76 and a current ratio of 1.37.

Patterson Companies (NASDAQ:PDCO) last announced its quarterly earnings data on Thursday, December 5th. The company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.02). Patterson Companies had a net margin of 2.37% and a return on equity of 19.77%. The company had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same quarter last year, the business earned $0.50 EPS. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. As a group, analysts predict that Patterson Companies, Inc. will post 2.26 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PDCO. StockNews.com began coverage on shares of Patterson Companies in a research report on Saturday. They set a “hold” rating on the stock. Piper Sandler dropped their price objective on shares of Patterson Companies from $26.00 to $24.00 and set a “neutral” rating on the stock in a research note on Friday, December 6th. UBS Group decreased their target price on shares of Patterson Companies from $27.00 to $24.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. Morgan Stanley boosted their price target on Patterson Companies from $27.00 to $31.35 and gave the company an “equal weight” rating in a research report on Tuesday, December 17th. Finally, Bank of America decreased their price objective on Patterson Companies from $31.00 to $29.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Eleven research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $26.57.

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.