Miller Howard Investments Inc. NY Has $528,000 Stock Position in Patterson Companies, Inc. (NASDAQ:PDCO)

Miller Howard Investments Inc. NY lifted its stake in Patterson Companies, Inc. (NASDAQ:PDCO) by 83.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,103 shares of the company’s stock after buying an additional 8,677 shares during the period. Miller Howard Investments Inc. NY’s holdings in Patterson Companies were worth $528,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of PDCO. GAMMA Investing LLC acquired a new position in shares of Patterson Companies in the 4th quarter worth approximately $32,000. Anchor Investment Management LLC acquired a new position in shares of Patterson Companies in the 4th quarter worth approximately $55,000. Signaturefd LLC grew its position in Patterson Companies by 93.5% during the 4th quarter. Signaturefd LLC now owns 2,107 shares of the company’s stock worth $60,000 after acquiring an additional 1,018 shares during the last quarter. Headlands Technologies LLC bought a new stake in Patterson Companies during the 4th quarter worth approximately $92,000. Finally, Neo Ivy Capital Management bought a new stake in Patterson Companies during the 4th quarter worth approximately $97,000. 85.43% of the stock is owned by institutional investors and hedge funds.

Patterson Companies Stock Up 0.8 %

Shares of PDCO opened at $24.51 on Tuesday. The firm has a market capitalization of $2.15 billion, a price-to-earnings ratio of 12.26, a PEG ratio of 2.27 and a beta of 1.07. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.75 and a current ratio of 1.33. The business’s fifty day moving average price is $24.86 and its two-hundred day moving average price is $26.93. Patterson Companies, Inc. has a 52 week low of $22.29 and a 52 week high of $34.53.

Patterson Companies (NASDAQ:PDCO) last posted its quarterly earnings results on Tuesday, June 18th. The company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.01). Patterson Companies had a return on equity of 20.80% and a net margin of 2.83%. The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter in the prior year, the business earned $0.84 earnings per share. The firm’s revenue for the quarter was down .1% on a year-over-year basis. On average, analysts predict that Patterson Companies, Inc. will post 2.37 earnings per share for the current year.

Patterson Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 2nd. Stockholders of record on Friday, July 19th will be given a $0.26 dividend. The ex-dividend date is Friday, July 19th. This represents a $1.04 annualized dividend and a dividend yield of 4.24%. Patterson Companies’s dividend payout ratio is currently 52.00%.

Wall Street Analyst Weigh In

A number of research firms recently commented on PDCO. SVB Leerink began coverage on Patterson Companies in a research report on Monday, February 26th. They set an “outperform” rating and a $36.00 price target on the stock. Morgan Stanley decreased their price target on Patterson Companies from $30.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Thursday, June 20th. Leerink Partnrs restated an “outperform” rating on shares of Patterson Companies in a research report on Monday, February 26th. Bank of America decreased their price target on Patterson Companies from $34.00 to $32.00 and set a “buy” rating on the stock in a research report on Monday, May 20th. Finally, Piper Sandler lowered Patterson Companies from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $34.00 to $28.00 in a research report on Thursday, February 29th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Patterson Companies has a consensus rating of “Hold” and a consensus price target of $30.25.

About Patterson Companies

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.