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

Foster & Motley Inc. cut its stake in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 27.7% in the 3rd quarter, Holdings Channel.com reports. The fund owned 65,266 shares of the company’s stock after selling 25,015 shares during the period. Foster & Motley Inc.’s holdings in Patterson Companies were worth $1,426,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Miller Howard Investments Inc. NY increased its holdings in Patterson Companies by 2.3% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 19,545 shares of the company’s stock worth $471,000 after buying an additional 442 shares in the last quarter. Ariel Investments LLC increased 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 buying an additional 586 shares in the last quarter. Hsbc Holdings PLC increased its holdings in Patterson Companies by 6.2% in the 2nd quarter. Hsbc Holdings PLC now owns 14,184 shares of the company’s stock worth $341,000 after buying an additional 828 shares in the last quarter. LRI Investments LLC increased its holdings in Patterson Companies by 201.2% in the 2nd 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. Finally, Bfsg LLC grew its stake in shares of Patterson Companies by 8.2% during the 3rd quarter. Bfsg LLC now owns 12,250 shares of the company’s stock valued at $268,000 after purchasing an additional 925 shares during the period. 85.43% of the stock is currently owned by institutional investors.

Patterson Companies Trading Up 3.6 %

Shares of NASDAQ:PDCO opened at $21.99 on Thursday. The stock has a 50 day moving average of $21.26 and a 200 day moving average of $23.50. The company has a market cap of $1.94 billion, a PE ratio of 12.02, a price-to-earnings-growth ratio of 1.53 and a beta of 1.02. 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 $19.89 and a 12-month high of $32.58.

Patterson Companies (NASDAQ:PDCO) last announced its quarterly earnings data on Wednesday, August 28th. The company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.08). Patterson Companies had a net margin of 2.58% and a return on equity of 19.87%. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter last year, the firm posted $0.40 earnings per share. The company’s revenue was down 2.3% compared to the same quarter last year. As a group, equities research analysts expect that Patterson Companies, Inc. will post 2.32 EPS for the current year.

Patterson Companies Dividend Announcement

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

Analyst Upgrades and Downgrades

PDCO has been the subject of a number of recent research reports. Bank of America cut their price target 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. Robert W. Baird cut their price target on Patterson Companies from $30.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th. UBS Group cut their price target on Patterson Companies from $27.00 to $24.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. Evercore ISI cut their price target on Patterson Companies from $23.00 to $22.00 and set an “in-line” rating for the company in a research note on Tuesday, October 8th. Finally, JPMorgan Chase & Co. cut their price target on Patterson Companies from $29.00 to $26.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th. Nine research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $28.30.

Patterson Companies Company 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.