Tokio Marine Asset Management Co. Ltd. Sells 900 Shares of Patterson Companies, Inc. (NASDAQ:PDCO)

Tokio Marine Asset Management Co. Ltd. lowered its position in Patterson Companies, Inc. (NASDAQ:PDCO) by 4.9% in the 3rd quarter, Holdings Channel reports. The firm owned 17,400 shares of the company’s stock after selling 900 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Patterson Companies were worth $380,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Patterson Companies by 7.9% in the first quarter. Vanguard Group Inc. now owns 10,018,184 shares of the company’s stock worth $277,003,000 after buying an additional 730,819 shares during the period. Dimensional Fund Advisors LP increased its stake in Patterson Companies by 0.6% in 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 period. Westwood Holdings Group Inc. lifted its position in shares of Patterson Companies by 3.6% during the first quarter. Westwood Holdings Group Inc. now owns 2,370,075 shares of the company’s stock worth $65,533,000 after purchasing an additional 82,522 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Patterson Companies by 13.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,183,940 shares of the company’s stock worth $47,697,000 after purchasing an additional 258,042 shares during the last quarter. Finally, River Road Asset Management LLC boosted its stake in shares of Patterson Companies by 3.6% during the third quarter. River Road Asset Management LLC now owns 1,988,217 shares of the company’s stock valued at $43,423,000 after purchasing an additional 68,947 shares during the period. Hedge funds and other institutional investors own 85.43% of the company’s stock.

Patterson Companies Trading Up 0.9 %

Shares of NASDAQ:PDCO opened at $19.75 on Friday. The company has a current ratio of 1.30, a quick ratio of 0.67 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $1.74 billion, a PE ratio of 10.79, a P/E/G ratio of 1.46 and a beta of 1.02. Patterson Companies, Inc. has a 12-month low of $19.45 and a 12-month high of $32.58. The business’s fifty day simple moving average is $21.05 and its 200-day simple moving average is $23.25.

Patterson Companies (NASDAQ:PDCO) last posted its earnings results on Wednesday, August 28th. The company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.08). The company had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.59 billion. Patterson Companies had a net margin of 2.58% and a return on equity of 19.87%. Patterson Companies’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.40 EPS. As a group, equities research analysts predict that Patterson Companies, Inc. will post 2.32 earnings per share for the current fiscal year.

Patterson Companies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Wednesday, October 16th were given a dividend of $0.26 per share. The ex-dividend date was Friday, October 18th. This represents a $1.04 dividend on an annualized basis and a yield of 5.27%. Patterson Companies’s payout ratio is 56.83%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on PDCO shares. Robert W. Baird reduced their price target on shares of Patterson Companies from $30.00 to $28.00 and set a “neutral” rating on the stock in a research note on Thursday, August 29th. Evercore ISI reduced their target price on shares of Patterson Companies from $23.00 to $22.00 and set an “in-line” rating on the stock in a research report on Tuesday, October 8th. UBS Group lowered their price target on Patterson Companies from $27.00 to $24.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Bank of America reduced their price objective on Patterson Companies from $31.00 to $29.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Finally, JPMorgan Chase & Co. lowered their target price on Patterson Companies from $29.00 to $26.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. Nine analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Patterson Companies presently has a consensus rating of “Hold” and a consensus price target of $28.30.

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.