MetLife Investment Management LLC Sells 820 Shares of Patterson Companies, Inc. (NASDAQ:PDCO)

Posted by Defense World Staff on Feb 26th, 2023

MetLife Investment Management LLC reduced its stake in shares of Patterson Companies, Inc. (NASDAQ:PDCO – Get Rating) by 0.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 100,528 shares of the company’s stock after selling 820 shares during the period. MetLife Investment Management LLC owned 0.10% of Patterson Companies worth $2,415,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of PDCO. Rockefeller Capital Management L.P. raised its position in Patterson Companies by 74.5% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 1,120 shares of the company’s stock worth $26,000 after purchasing an additional 478 shares during the last quarter. Meeder Asset Management Inc. raised its position in shares of Patterson Companies by 145.5% in the 2nd quarter. Meeder Asset Management Inc. now owns 891 shares of the company’s stock worth $27,000 after acquiring an additional 528 shares in the last quarter. National Bank of Canada FI raised its position in shares of Patterson Companies by 60.0% in the 3rd quarter. National Bank of Canada FI now owns 2,000 shares of the company’s stock worth $42,000 after acquiring an additional 750 shares in the last quarter. Captrust Financial Advisors raised its position in shares of Patterson Companies by 28.7% in the 2nd quarter. Captrust Financial Advisors now owns 1,815 shares of the company’s stock worth $55,000 after acquiring an additional 405 shares in the last quarter. Finally, Ronald Blue Trust Inc. bought a new position in shares of Patterson Companies in the 2nd quarter worth about $58,000. 81.09% of the stock is owned by institutional investors.

Insider Buying and Selling at Patterson Companies

In other Patterson Companies news, CFO Kevin Michael Barry sold 9,443 shares of Patterson Companies stock in a transaction dated Monday, December 5th. The stock was sold at an average price of $29.10, for a total transaction of $274,791.30. Following the completion of the transaction, the chief financial officer now owns 6,442 shares in the company, valued at approximately $187,462.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.10% of the company’s stock.

Patterson Companies Stock Performance

Shares of PDCO opened at $27.42 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.60 and a quick ratio of 0.83. The stock has a 50-day moving average of $28.85 and a 200-day moving average of $27.96. The company has a market cap of $2.66 billion, a PE ratio of 13.51, a P/E/G ratio of 1.53 and a beta of 1.29. Patterson Companies, Inc. has a one year low of $23.87 and a one year high of $35.29.

Patterson Companies (NASDAQ:PDCO – Get Rating) last released its quarterly earnings results on Thursday, December 1st. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.06. The business had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.68 billion. Patterson Companies had a return on equity of 20.93% and a net margin of 3.13%. The company’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.58 EPS. On average, equities research analysts predict that Patterson Companies, Inc. will post 2.28 EPS for the current fiscal year.

Patterson Companies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 3rd. Shareholders of record on Friday, January 20th were paid a dividend of $0.26 per share. The ex-dividend date was Thursday, January 19th. This represents a $1.04 dividend on an annualized basis and a yield of 3.79%. Patterson Companies’s dividend payout ratio (DPR) is currently 51.23%.

Analyst Ratings Changes

PDCO has been the subject of several research analyst reports. TheStreet raised Patterson Companies from a “c+” rating to a “b” rating in a research report on Thursday, December 1st. Evercore ISI lifted their price objective on Patterson Companies to $30.00 in a research report on Friday, December 2nd. Piper Sandler lifted their price objective on Patterson Companies from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Monday, February 6th. StockNews.com raised Patterson Companies from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, Credit Suisse Group raised their target price on Patterson Companies to $39.00 and gave the company an “outperform” rating in a research note on Monday, November 28th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $34.17.

Patterson Companies Profile

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Patterson Cos., Inc provides products, technologies, services, and business solutions to the dental and animal health markets. It operates through the following segments: Dental, Animal Health, and Corporate. The Dental segment provides consumable dental products, equipment and software, turnkey digital solutions, and value-added services to dentists, dental laboratories, institutions, and other healthcare professionals.