Foster & Motley Inc. Trims Holdings in Patterson Companies, Inc. (NASDAQ:PDCO)

Foster & Motley Inc. cut its stake in shares of Patterson Companies, Inc. (NASDAQ:PDCO - Free Report) by 16.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 54,222 shares of the company's stock after selling 11,044 shares during the period. Foster & Motley Inc. owned about 0.06% of Patterson Companies worth $1,673,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of PDCO. Hotchkis & Wiley Capital Management LLC purchased a new position in shares of Patterson Companies during the 3rd quarter valued at about $11,183,000. Royce & Associates LP bought a new stake in Patterson Companies during the 3rd quarter worth approximately $6,807,000. Allspring Global Investments Holdings LLC lifted its holdings in Patterson Companies by 13.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,183,940 shares of the company's stock valued at $47,697,000 after purchasing an additional 258,042 shares in the last quarter. Equity Investment Corp boosted its position in shares of Patterson Companies by 10.6% in the third quarter. Equity Investment Corp now owns 1,739,669 shares of the company's stock worth $37,994,000 after purchasing an additional 166,899 shares during the period. Finally, Kempner Capital Management Inc. purchased a new stake in shares of Patterson Companies in the third quarter worth $2,514,000. Institutional investors own 85.43% of the company's stock.

Analyst Ratings Changes

PDCO has been the topic of a number of analyst reports. Evercore ISI lowered their target price on shares of Patterson Companies from $23.00 to $22.00 and set an "in-line" rating on the stock in a research note on Tuesday, October 8th. Robert W. Baird boosted their price objective on Patterson Companies from $25.00 to $31.00 and gave the company a "neutral" rating in a research report on Thursday, December 12th. Morgan Stanley increased their target price on Patterson Companies from $27.00 to $31.35 and gave the stock an "equal weight" rating in a research report on Tuesday, December 17th. Mizuho began coverage on Patterson Companies in a report on Wednesday, December 4th. They issued a "neutral" rating and a $23.00 price target on the stock. Finally, Piper Sandler reduced their price objective on shares of Patterson Companies from $26.00 to $24.00 and set a "neutral" rating on the stock in a research report on Friday, December 6th. Eleven research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $26.57.

Patterson Companies Price Performance

PDCO stock traded up $0.04 during trading on Monday, hitting $30.99. 843,513 shares of the company's stock traded hands, compared to its average volume of 1,556,105. Patterson Companies, Inc. has a 52 week low of $19.45 and a 52 week high of $31.79. The stock has a market capitalization of $2.74 billion, a price-to-earnings ratio of 18.12, a P/E/G ratio of 2.70 and a beta of 0.90. The business has a fifty day simple moving average of $28.79 and a 200 day simple moving average of $24.61. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.76 and a current ratio of 1.37.

Patterson Companies (NASDAQ:PDCO - Get Free Report) last announced its quarterly earnings results on Thursday, December 5th. The company reported $0.47 EPS for the quarter, missing analysts' consensus estimates of $0.49 by ($0.02). Patterson Companies had a net margin of 2.37% and a return on equity of 19.77%. The business had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the previous year, the business posted $0.50 EPS. The firm's revenue was up 1.0% on a year-over-year basis. As a group, research analysts expect that Patterson Companies, Inc. will post 2.25 EPS for the current fiscal year.

Insider Transactions at Patterson Companies

In related news, CEO Donald Zurbay sold 1,962 shares of the firm's stock in a transaction on Monday, December 9th. The stock was sold at an average price of $23.08, for a total value of $45,282.96. Following the completion of the sale, the chief executive officer now directly owns 222,736 shares in the company, valued at $5,140,746.88. This trade represents a 0.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.90% of the company's stock.

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.