Tokio Marine Asset Management Co. Ltd. Trims Stock Position in Patterson Companies, Inc. (NASDAQ:PDCO)

Tokio Marine Asset Management Co. Ltd. lessened its holdings in Patterson Companies, Inc. (NASDAQ:PDCO) by 4.9% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 17,400 shares of the company’s stock after selling 900 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Patterson Companies were worth $380,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in PDCO. Miller Howard Investments Inc. NY raised its position 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 worth $471,000 after acquiring an additional 442 shares during the period. Ariel Investments LLC raised its holdings in Patterson Companies by 7.0% in the 1st quarter. Ariel Investments LLC now owns 8,976 shares of the company’s stock worth $248,000 after purchasing an additional 586 shares during the period. KBC Group NV lifted its position in Patterson Companies by 32.7% during the third quarter. KBC Group NV now owns 2,757 shares of the company’s stock valued at $60,000 after purchasing an additional 680 shares in the last quarter. Hsbc Holdings PLC grew its holdings in Patterson Companies by 6.2% during the second quarter. Hsbc Holdings PLC now owns 14,184 shares of the company’s stock valued at $341,000 after purchasing an additional 828 shares during the period. Finally, LRI Investments LLC increased its position in Patterson Companies by 201.2% in the second quarter. LRI Investments LLC now owns 1,262 shares of the company’s stock worth $30,000 after buying an additional 843 shares in the last quarter. Hedge funds and other institutional investors own 85.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on PDCO shares. JPMorgan Chase & Co. lowered their price objective on Patterson Companies from $29.00 to $26.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. Bank of America dropped their price target on shares of Patterson Companies from $31.00 to $29.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Robert W. Baird decreased their price objective on shares of Patterson Companies from $30.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. Evercore ISI dropped their target price on shares of Patterson Companies from $23.00 to $22.00 and set an “in-line” rating for the company in a report on Tuesday, October 8th. 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 report on Thursday, September 5th. Nine equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $28.30.

Patterson Companies Price Performance

Shares of Patterson Companies stock 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. Patterson Companies, Inc. has a 12 month low of $19.45 and a 12 month high of $32.58. The stock has a 50 day moving average of $21.05 and a 200 day moving average of $23.25. The firm has a market cap of $1.74 billion, a PE ratio of 10.79, a PEG ratio of 1.46 and a beta of 1.02.

Patterson Companies (NASDAQ:PDCO) last posted its earnings results on Wednesday, August 28th. The company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.08). The business 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%. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period last year, the business posted $0.40 earnings per share. On average, research analysts expect that Patterson Companies, Inc. will post 2.32 EPS for the current fiscal year.

Patterson Companies Announces Dividend

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

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.