Bank of America Corp DE Decreases Stake in Patterson Companies, Inc. (NASDAQ:PDCO)

Bank of America Corp DE reduced its stake in Patterson Companies, Inc. (NASDAQ:PDCO) by 41.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 286,060 shares of the company’s stock after selling 201,672 shares during the quarter. Bank of America Corp DE owned about 0.30% of Patterson Companies worth $6,552,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. increased its holdings in Patterson Companies by 2.1% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 599,810 shares of the company’s stock worth $13,736,000 after buying an additional 12,202 shares during the period. JPMorgan Chase & Co. increased its holdings in Patterson Companies by 5.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,552,238 shares of the company’s stock worth $36,711,000 after buying an additional 77,838 shares during the period. Biechele Royce Advisors increased its holdings in Patterson Companies by 4.7% in the 2nd quarter. Biechele Royce Advisors now owns 277,997 shares of the company’s stock worth $6,366,000 after buying an additional 12,502 shares during the period. Aperio Group LLC increased its holdings in Patterson Companies by 2.0% in the 2nd quarter. Aperio Group LLC now owns 67,599 shares of the company’s stock worth $1,548,000 after buying an additional 1,326 shares during the period. Finally, Bank of Montreal Can increased its holdings in Patterson Companies by 34.0% in the 2nd quarter. Bank of Montreal Can now owns 28,518 shares of the company’s stock worth $654,000 after buying an additional 7,234 shares during the period. Institutional investors own 94.59% of the company’s stock.

Several equities analysts recently weighed in on PDCO shares. Robert W. Baird set a $19.00 price target on shares of Patterson Companies and gave the stock a “hold” rating in a report on Friday, August 30th. UBS Group cut their price target on shares of Patterson Companies from $23.00 to $16.00 and set a “neutral” rating on the stock in a report on Friday, September 6th. BidaskClub downgraded shares of Patterson Companies from a “hold” rating to a “sell” rating in a report on Saturday, September 21st. ValuEngine upgraded shares of Patterson Companies from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Wolfe Research set a $17.00 price target on shares of Patterson Companies and gave the stock a “sell” rating in a report on Friday, August 30th. Five equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $18.63.

Shares of NASDAQ PDCO opened at $17.09 on Friday. The stock has a market capitalization of $1.58 billion, a price-to-earnings ratio of 12.20, a PEG ratio of 2.19 and a beta of 1.36. Patterson Companies, Inc. has a 12 month low of $15.73 and a 12 month high of $26.60. The firm’s 50 day simple moving average is $17.16 and its 200-day simple moving average is $20.29. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.81 and a quick ratio of 0.88.

Patterson Companies (NASDAQ:PDCO) last issued its quarterly earnings data on Thursday, August 29th. The company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.02. The business had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Patterson Companies had a net margin of 2.12% and a return on equity of 8.95%. The business’s revenue was down .6% on a year-over-year basis. During the same quarter last year, the company earned $0.26 EPS. Analysts anticipate that Patterson Companies, Inc. will post 1.38 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 11th will be paid a dividend of $0.26 per share. The ex-dividend date is Thursday, October 10th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 6.09%. Patterson Companies’s payout ratio is 74.29%.

Patterson Companies Profile

Patterson Companies, Inc distributes and sells dental and animal health products in the United States, the United Kingdom, and Canada. It operates through Dental and Animal Health segments. The company's Dental segment offers consumable products, such as infection control, restorative materials, hand instruments, and sterilization products; basic and advanced technology dental equipment; patient education systems; and office forms and stationery.

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Institutional Ownership by Quarter for Patterson Companies (NASDAQ:PDCO)

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