Goodman Financial Corp Increases Holdings in Patterson Companies, Inc. (NASDAQ:PDCO)

Goodman Financial Corp boosted its position in Patterson Companies, Inc. (NASDAQ:PDCO) by 19.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 543,282 shares of the company’s stock after buying an additional 86,972 shares during the quarter. Patterson Companies makes up approximately 2.7% of Goodman Financial Corp’s portfolio, making the stock its 23rd biggest position. Goodman Financial Corp owned about 0.62% of Patterson Companies worth $11,865,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Equity Investment Corp purchased a new stake in shares of Patterson Companies in the 2nd quarter valued at $37,935,000. Private Management Group Inc. lifted its stake in Patterson Companies by 268.5% in the second quarter. Private Management Group Inc. now owns 1,431,666 shares of the company’s stock worth $34,532,000 after purchasing an additional 1,043,201 shares during the last quarter. Vanguard Group Inc. boosted its position in Patterson Companies by 7.9% during the first quarter. Vanguard Group Inc. now owns 10,018,184 shares of the company’s stock valued at $277,003,000 after buying an additional 730,819 shares during the period. LSV Asset Management grew its stake in shares of Patterson Companies by 58.8% during the second quarter. LSV Asset Management now owns 1,391,344 shares of the company’s stock valued at $33,559,000 after buying an additional 515,299 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of Patterson Companies by 83.6% in the second quarter. American Century Companies Inc. now owns 902,759 shares of the company’s stock worth $21,775,000 after buying an additional 411,012 shares during the period. 85.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on PDCO shares. UBS Group dropped their target price 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 dropped their price objective on Patterson Companies from $31.00 to $29.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Evercore ISI decreased 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 note on Tuesday, October 8th. Robert W. Baird dropped their price target on shares of Patterson Companies from $30.00 to $28.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Patterson Companies from $29.00 to $26.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. Nine research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Patterson Companies presently has an average rating of “Hold” and a consensus price target of $28.30.

Patterson Companies Price Performance

Shares of NASDAQ PDCO opened at $21.62 on Tuesday. The firm has a market cap of $1.91 billion, a P/E ratio of 11.81, a PEG ratio of 1.49 and a beta of 1.02. The company has a 50 day moving average of $20.99 and a 200 day moving average of $23.00. Patterson Companies, Inc. has a twelve month low of $19.45 and a twelve month high of $32.56. The company has a quick ratio of 0.67, a current ratio of 1.30 and a debt-to-equity ratio of 0.34.

Patterson Companies (NASDAQ:PDCO) last issued 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). Patterson Companies had a return on equity of 19.87% and a net margin of 2.58%. The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.59 billion. During the same period in the previous year, the firm earned $0.40 EPS. The business’s revenue was down 2.3% on a year-over-year basis. As a group, research analysts expect that Patterson Companies, Inc. will post 2.32 EPS for the current fiscal year.

Patterson Companies Dividend Announcement

The company 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. The ex-dividend date of this dividend was Friday, October 18th. This represents a $1.04 annualized dividend and a dividend yield of 4.81%. 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.