Sanctuary Advisors LLC Makes New Investment in Patterson Companies, Inc. (NASDAQ:PDCO)

Sanctuary Advisors LLC acquired a new position in shares of Patterson Companies, Inc. (NASDAQ:PDCO) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 16,655 shares of the company’s stock, valued at approximately $429,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PDCO. Vanguard Group Inc. boosted its position in Patterson Companies by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 9,287,365 shares of the company’s stock worth $264,226,000 after purchasing an additional 26,685 shares during the period. Miller Howard Investments Inc. NY boosted its position in Patterson Companies by 83.2% during the first quarter. Miller Howard Investments Inc. NY now owns 19,103 shares of the company’s stock worth $528,000 after purchasing an additional 8,677 shares during the period. ARGA Investment Management LP bought a new position in Patterson Companies during the first quarter worth $465,000. Sound Income Strategies LLC boosted its position in Patterson Companies by 10.3% during the first quarter. Sound Income Strategies LLC now owns 619,529 shares of the company’s stock worth $17,130,000 after purchasing an additional 58,084 shares during the period. Finally, Aviance Capital Partners LLC boosted its position in shares of Patterson Companies by 8.2% in the first quarter. Aviance Capital Partners LLC now owns 29,985 shares of the company’s stock valued at $829,000 after acquiring an additional 2,265 shares during the period. 85.43% of the stock is owned by institutional investors.

Patterson Companies Stock Up 0.6 %

PDCO stock opened at $20.88 on Thursday. The company has a quick ratio of 0.67, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The company has a market cap of $1.83 billion, a PE ratio of 10.44, a price-to-earnings-growth ratio of 1.46 and a beta of 1.02. Patterson Companies, Inc. has a 52 week low of $19.89 and a 52 week high of $32.58. The business has a 50-day simple moving average of $22.25 and a 200 day simple moving average of $24.00.

Patterson Companies (NASDAQ:PDCO) last issued its earnings results on Wednesday, August 28th. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.08). The business had revenue of $1.54 billion for 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 firm’s revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.40 EPS. Sell-side analysts anticipate that Patterson Companies, Inc. will post 2.33 EPS for the current fiscal year.

Patterson Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Wednesday, October 16th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 4.98%. The ex-dividend date is Friday, October 18th. Patterson Companies’s payout ratio is 52.00%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on PDCO shares. Evercore ISI reduced their target price on shares of Patterson Companies from $23.00 to $22.00 and set an “in-line” rating for the company in a research report on Tuesday, October 8th. UBS Group reduced 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. Morgan Stanley reduced their target price on shares of Patterson Companies from $30.00 to $28.00 and set an “equal weight” rating for the company in a research report on Thursday, June 20th. JPMorgan Chase & Co. reduced their target price on shares of Patterson Companies from $29.00 to $26.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. Finally, Bank of America reduced their target price on shares of Patterson Companies from $31.00 to $29.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Nine equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Patterson Companies presently has a consensus rating of “Hold” and a consensus price target of $28.30.

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.