Foster & Motley Inc. Sells 25,015 Shares of Patterson Companies, Inc. (NASDAQ:PDCO)

Foster & Motley Inc. trimmed its stake in Patterson Companies, Inc. (NASDAQ:PDCO) by 27.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 65,266 shares of the company’s stock after selling 25,015 shares during the period. Foster & Motley Inc. owned approximately 0.07% of Patterson Companies worth $1,426,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of PDCO. Commonwealth Equity Services LLC grew its position in Patterson Companies by 7.6% during the first quarter. Commonwealth Equity Services LLC now owns 20,687 shares of the company’s stock valued at $572,000 after acquiring an additional 1,463 shares during the last quarter. Central Pacific Bank Trust Division bought a new position in Patterson Companies during the first quarter valued at approximately $95,000. Quantbot Technologies LP bought a new position in Patterson Companies during the first quarter valued at approximately $292,000. Illinois Municipal Retirement Fund bought a new position in shares of Patterson Companies in the first quarter worth approximately $1,339,000. Finally, Heartland Advisors Inc. grew its holdings in shares of Patterson Companies by 0.6% in the first quarter. Heartland Advisors Inc. now owns 409,100 shares of the company’s stock worth $11,312,000 after purchasing an additional 2,300 shares during the last quarter. 85.43% of the stock is currently owned by institutional investors.

Patterson Companies Stock Performance

Shares of PDCO stock opened at $21.99 on Thursday. The company has a quick ratio of 0.67, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $1.94 billion, a price-to-earnings ratio of 12.02, a PEG ratio of 1.53 and a beta of 1.02. The stock has a fifty day moving average of $21.26 and a 200 day moving average of $23.50. Patterson Companies, Inc. has a 52 week low of $19.89 and a 52 week high of $32.58.

Patterson Companies (NASDAQ:PDCO) last announced its quarterly earnings data on Wednesday, August 28th. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.08). The firm had revenue of $1.54 billion for 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%. The business’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.40 EPS. As a group, research analysts expect that Patterson Companies, Inc. will post 2.32 earnings per share for the current year.

Patterson Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Wednesday, October 16th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 4.73%. The ex-dividend date was Friday, October 18th. Patterson Companies’s dividend payout ratio is currently 56.83%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Robert W. Baird cut their target price on shares of Patterson Companies from $30.00 to $28.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. Evercore ISI cut 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 report on Tuesday, October 8th. Bank of America cut their target price on shares of Patterson Companies from $31.00 to $29.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. UBS Group cut their target price on shares of Patterson Companies from $27.00 to $24.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. Finally, JPMorgan Chase & Co. cut their target price on shares of Patterson Companies from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. Nine investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Patterson Companies currently has an average rating of “Hold” and an average target price 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.