Patterson Cos. (NASDAQ:PDCO) had its price target reduced by Evercore ISI to $39.00 in a research report report published on Tuesday morning.
A number of other brokerages have also recently weighed in on PDCO. Jefferies Group restated a hold rating on shares of Patterson Cos. in a report on Thursday, August 4th. Bank of America Corp. started coverage on shares of Patterson Cos. in a report on Wednesday, August 24th. They issued an underperform rating and a $44.00 price objective on the stock. Zacks Investment Research upgraded shares of Patterson Cos. from a sell rating to a hold rating in a report on Monday, September 5th. TheStreet upgraded shares of Patterson Cos. from a hold rating to a buy rating in a report on Friday, November 11th. Finally, Robert W. Baird restated a neutral rating and issued a $49.00 price objective (down previously from $51.00) on shares of Patterson Cos. in a report on Friday, August 26th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $46.40.
Shares of Patterson Cos. (NASDAQ:PDCO) opened at 39.26 on Tuesday. Patterson Cos. has a 1-year low of $36.46 and a 1-year high of $50.40. The company has a market capitalization of $3.75 billion, a PE ratio of 19.36 and a beta of 0.97. The stock’s 50 day moving average price is $45.11 and its 200-day moving average price is $46.67.
Patterson Cos. (NASDAQ:PDCO) last announced its quarterly earnings results on Tuesday, November 22nd. The company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by $0.04. Patterson Cos. had a net margin of 3.69% and a return on equity of 17.16%. The company had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter in the prior year, the firm earned $0.56 EPS. Patterson Cos.’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, equities analysts predict that Patterson Cos. will post $2.57 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 28th. Investors of record on Friday, October 14th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Wednesday, October 12th. This represents a $0.96 dividend on an annualized basis and a yield of 2.45%. Patterson Cos.’s dividend payout ratio (DPR) is 44.65%.
In related news, insider Ann B. Gugino sold 750 shares of the stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $46.22, for a total transaction of $34,665.00. Following the transaction, the insider now owns 40,153 shares in the company, valued at $1,855,871.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.46% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of PDCO. Benjamin F. Edwards & Company Inc. increased its position in shares of Patterson Cos. by 0.5% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,358 shares of the company’s stock worth $113,000 after buying an additional 12 shares during the period. Toronto Dominion Bank increased its position in shares of Patterson Cos. by 425.2% in the third quarter. Toronto Dominion Bank now owns 2,442 shares of the company’s stock worth $112,000 after buying an additional 1,977 shares during the period. Public Employees Retirement Association of Colorado increased its position in shares of Patterson Cos. by 0.4% in the third quarter. Public Employees Retirement Association of Colorado now owns 2,702 shares of the company’s stock worth $124,000 after buying an additional 11 shares during the period. TLP Group LLC bought a new position in shares of Patterson Cos. during the second quarter worth $140,000. Finally, Investment Counselors of Maryland LLC increased its position in shares of Patterson Cos. by 45.6% in the third quarter. Investment Counselors of Maryland LLC now owns 2,979 shares of the company’s stock worth $137,000 after buying an additional 933 shares during the period. Institutional investors own 78.44% of the company’s stock.
Patterson Cos. Company Profile