Goodman Financial Corp Grows Holdings in Patterson Companies, Inc. (NASDAQ:PDCO)

Goodman Financial Corp grew its stake in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 19.1% in the third quarter, Holdings Channel reports. The firm owned 543,282 shares of the company’s stock after acquiring an additional 86,972 shares during the period. Patterson Companies accounts for approximately 2.7% of Goodman Financial Corp’s holdings, making the stock its 23rd largest position. Goodman Financial Corp’s holdings in Patterson Companies were worth $11,865,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in PDCO. Vanguard Group Inc. boosted its stake in shares of Patterson Companies by 7.9% during the first quarter. Vanguard Group Inc. now owns 10,018,184 shares of the company’s stock valued at $277,003,000 after purchasing an additional 730,819 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Patterson Companies by 0.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,915,315 shares of the company’s stock worth $94,436,000 after acquiring an additional 23,344 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Patterson Companies by 13.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,183,940 shares of the company’s stock worth $47,697,000 after purchasing an additional 258,042 shares during the last quarter. River Road Asset Management LLC lifted its stake in shares of Patterson Companies by 3.6% during the 3rd quarter. River Road Asset Management LLC now owns 1,988,217 shares of the company’s stock worth $43,423,000 after purchasing an additional 68,947 shares during the last quarter. Finally, Equity Investment Corp boosted its position in Patterson Companies by 10.6% during the third quarter. Equity Investment Corp now owns 1,739,669 shares of the company’s stock valued at $37,994,000 after purchasing an additional 166,899 shares in the last quarter. 85.43% of the stock is currently owned by institutional investors.

Patterson Companies Trading Up 5.7 %

NASDAQ PDCO opened at $21.62 on Tuesday. The stock has a market cap of $1.91 billion, a P/E ratio of 11.81, a P/E/G ratio of 1.49 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 $19.45 and a 12-month high of $32.56. The company has a fifty day simple moving average of $20.99 and a two-hundred day simple moving average of $23.00.

Patterson Companies (NASDAQ:PDCO) last issued its earnings results 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). The firm had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.59 billion. Patterson Companies had a return on equity of 19.87% and a net margin of 2.58%. The business’s revenue was down 2.3% on a year-over-year basis. During the same quarter last year, the business earned $0.40 EPS. On average, analysts forecast that Patterson Companies, Inc. will post 2.32 earnings per share for the current year.

Patterson Companies Announces Dividend

The company also recently announced 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 of this dividend was Friday, October 18th. This represents a $1.04 dividend on an annualized basis and a yield of 4.81%. Patterson Companies’s dividend payout ratio is currently 56.83%.

Analyst Upgrades and Downgrades

PDCO has been the subject of a number of recent research reports. Robert W. Baird reduced their target price on shares of Patterson Companies from $30.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. UBS Group reduced their price objective on shares of 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 lowered 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 note on Tuesday, October 8th. JPMorgan Chase & Co. cut their price target on shares of Patterson Companies from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. Finally, Bank of America decreased their price objective on Patterson Companies from $31.00 to $29.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Nine investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price 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.