Patterson Companies, Inc. (NASDAQ:PDCO) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans trimmed its stake in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 6.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 61,764 shares of the company’s stock after selling 4,589 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Patterson Companies were worth $1,349,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. LRI Investments LLC lifted its stake in Patterson Companies by 201.2% in the second quarter. LRI Investments LLC now owns 1,262 shares of the company’s stock valued at $30,000 after buying an additional 843 shares during the last quarter. Mather Group LLC. lifted its position in Patterson Companies by 1,376.1% in the 2nd quarter. Mather Group LLC. now owns 1,609 shares of the company’s stock valued at $39,000 after purchasing an additional 1,500 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in Patterson Companies in the 2nd quarter valued at about $41,000. Family Firm Inc. bought a new position in Patterson Companies in the 2nd quarter worth about $45,000. Finally, Meeder Asset Management Inc. bought a new position in Patterson Companies in the 2nd quarter worth about $45,000. Institutional investors own 85.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PDCO. Robert W. Baird decreased their price objective on Patterson Companies from $30.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. Bank of America lowered their price target on Patterson Companies from $31.00 to $29.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. JPMorgan Chase & Co. reduced their price objective on shares of Patterson Companies from $29.00 to $26.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. UBS Group decreased their target price on shares of Patterson Companies from $27.00 to $24.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. Finally, Evercore ISI dropped their price target on shares of Patterson Companies from $23.00 to $22.00 and set an “in-line” rating on the stock in a research report on Tuesday, October 8th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Patterson Companies presently has a consensus rating of “Hold” and an average target price of $27.63.

Patterson Companies Stock Performance

NASDAQ:PDCO opened at $21.49 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. The company has a 50-day moving average of $20.96 and a 200-day moving average of $22.90. Patterson Companies, Inc. has a twelve month low of $19.45 and a twelve month high of $30.68. The firm has a market cap of $1.89 billion, a price-to-earnings ratio of 11.74, a price-to-earnings-growth ratio of 1.56 and a beta of 1.02.

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

Patterson Companies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Wednesday, October 16th were given a $0.26 dividend. The ex-dividend date was Friday, October 18th. This represents a $1.04 annualized dividend and a dividend yield of 4.84%. Patterson Companies’s dividend payout ratio (DPR) is presently 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.