Russell Investments Group Ltd. increased its stake in Patterson Companies, Inc. (NASDAQ:PDCO – Free Report) by 1,802.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The company owned 67,615 shares of the company after acquiring an additional 64,061 shares during the quarter. Russell Investments Group Ltd. owned 0.08% of Patterson Companies worth $1,870,000, according to its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in PDCO recently. Illinois Municipal Retirement Fund purchased a new stake in Patterson Companies during the first quarter worth approximately $1,339,000. Norges Bank purchased a new stake in Patterson Companies during the fourth quarter worth approximately $26,162,000. Sound Income Strategies LLC increased 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. Seven Eight Capital LP purchased a new stake in Patterson Companies during the fourth quarter worth approximately $1,233,000. Finally, Allspring Global Investments Holdings LLC increased its position in Patterson Companies by 2.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,792,138 shares of the company’s stock, worth $49,553,000, after purchasing an additional 43,980 shares during the period. 85.43% of the shares are currently held by institutional investors.

Wall Street analysts predict growth

Several analysts have recently issued reports on the stock. Evercore ISI lowered their price target on shares of Patterson Companies from $27.00 to $25.00 and set an “in-line” rating for the company in a research report on Tuesday, July 9th. JPMorgan Chase & Co. lowered their price target on shares of Patterson Companies from $30.00 to $29.00 and set a “neutral” rating for the company in a research report on Thursday, June 20th. Bank of America lowered their price target on shares of Patterson Companies from $34.00 to $32.00 and set a “buy” rating for the company in a research report on Monday, May 20th. Morgan Stanley lowered their price target 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. Finally, StockNews.com lowered shares of Patterson Companies from a “buy” rating to a “hold” rating in a research report on Saturday, June 1st. Seven equities analysts have rated the stock with a “hold” rating and three have given the company a “buy” rating. Patterson Companies currently has an average rating of “Hold” and an average price target of $30.00, according to MarketBeat.com.

Check out our latest stock analysis on PDCO

Price development of Patterson Companies

PDCO shares opened at $26.29 on Friday. Patterson Companies, Inc. has a one-year low of $22.29 and a one-year high of $34.53. The company’s fifty-day moving average price is $24.28 and its 200-day moving average price is $26.36. 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 company has a market cap of $2.31 billion, a PE ratio of 13.15, a price-to-earnings growth ratio of 2.43 and a beta of 1.06.

Patterson Companies (NASDAQ:PDCO – Get Free Report) last released its earnings results on Tuesday, June 18. The company reported $0.82 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 analysts’ expectations of $1.70 billion. During the same period last year, the company reported $0.84 EPS. Patterson Companies’ quarterly revenue decreased 0.1% from the same quarter last year. On average, analysts expect Patterson Companies, Inc. to report 2.36 EPS for the current fiscal year.

Patterson Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Investors of record on Friday, July 19th will receive a dividend of $0.26 per share. This represents an annualized dividend of $1.04 and a yield of 3.96%. The ex-dividend date for this dividend is Friday, July 19th. Patterson Companies’ payout ratio is 52.00%.

Insider Activity at Patterson Companies

In related news, insider Les B. Korsh sold 2,842 shares of the company’s stock in a transaction on Wednesday, July 3. The shares were sold at an average price of $23.71, for a total transaction of $67,383.82. Following the sale, the insider now owns 103,765 shares of the company’s stock, valued at $2,460,268.15. The transaction was disclosed in a legal filing with the SEC, which is available on the SEC website. In related news, insider Les B. Korsh sold 2,842 shares of the company’s stock in a transaction on Wednesday, July 3. The shares were sold at an average price of $23.71, for a total transaction of $67,383.82. Following the sale, the insider now owns 103,765 shares of the company’s stock, valued at $2,460,268.15. The transaction was disclosed in a legal document filed with the SEC, available via the SEC website. Also, CEO Donald Zurbay sold 7,216 shares of the company’s stock in a transaction on Tuesday, July 16. The shares were sold at an average price of $24.99, for a total transaction of $180,327.84. Following the sale, the chief executive officer now directly owns 230,072 shares of the company’s stock, valued at approximately $5,749,499.28. The disclosure for this sale can be found here. Insiders have sold a total of 17,149 shares of the company’s stock worth $415,851 over the last 90 days. 1.50% of the shares are held by corporate insiders.

Patterson Companies Profile

(Free Report)

Patterson Companies, Inc. distributes dental and animal health products in the United States, United Kingdom, and Canada. The company operates through three segments: Dental, Animal Health, and Corporate segments. The Dental segment offers consumables, 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.

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