Patterson Companies, Inc. (PDCO) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas decreased its stake in Patterson Companies, Inc. (NASDAQ:PDCO) by 35.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,067 shares of the company’s stock after selling 10,664 shares during the period. Teacher Retirement System of Texas’ holdings in Patterson Companies were worth $424,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in shares of Patterson Companies by 6.2% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,182,834 shares of the company’s stock valued at $187,255,000 after buying an additional 304,402 shares in the last quarter. Fairpointe Capital LLC boosted its holdings in shares of Patterson Companies by 5.7% in the 4th quarter. Fairpointe Capital LLC now owns 3,974,188 shares of the company’s stock valued at $143,588,000 after buying an additional 213,341 shares in the last quarter. Thompson Siegel & Walmsley LLC boosted its holdings in shares of Patterson Companies by 90.5% in the 1st quarter. Thompson Siegel & Walmsley LLC now owns 1,934,238 shares of the company’s stock valued at $42,998,000 after buying an additional 918,887 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Patterson Companies by 70.7% in the 4th quarter. Bank of New York Mellon Corp now owns 1,681,338 shares of the company’s stock valued at $60,747,000 after buying an additional 696,540 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Patterson Companies by 46.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,544,632 shares of the company’s stock valued at $55,808,000 after buying an additional 492,936 shares in the last quarter. Institutional investors and hedge funds own 90.30% of the company’s stock.

A number of analysts recently weighed in on the stock. BidaskClub upgraded shares of Patterson Companies from a “strong sell” rating to a “sell” rating in a research note on Thursday, April 12th. Evercore ISI cut shares of Patterson Companies from an “in-line” rating to an “underperform” rating in a research note on Thursday, March 1st. Barclays assumed coverage on shares of Patterson Companies in a research note on Thursday, March 8th. They set an “underweight” rating and a $23.00 price target for the company. ValuEngine cut shares of Patterson Companies from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 2nd. Finally, Northcoast Research reiterated a “buy” rating on shares of Patterson Companies in a research note on Wednesday, May 16th. Seven investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. Patterson Companies presently has a consensus rating of “Hold” and an average target price of $35.03.



PDCO stock opened at $22.33 on Friday. Patterson Companies, Inc. has a one year low of $20.57 and a one year high of $48.29. The firm has a market capitalization of $2.11 billion, a PE ratio of 9.54, a PEG ratio of 1.84 and a beta of 1.12. The company has a quick ratio of 1.00, a current ratio of 1.80 and a debt-to-equity ratio of 0.64.

Patterson Companies announced that its board has approved a stock buyback program on Tuesday, March 13th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 27th. Stockholders of record on Friday, July 13th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 4.66%. The ex-dividend date is Thursday, July 12th. Patterson Companies’s dividend payout ratio (DPR) is presently 44.44%.

About Patterson Companies

Patterson Companies, Inc distributes and sells dental and animal health products in the United States, the United Kingdom, and Canada. It operates through Dental and Animal Health segments. The company's Dental segment offers consumable products, such as infection control, restorative materials, hand instruments, and sterilization products; basic and advanced technology dental equipment; patient education systems; and office forms and stationery.

Institutional Ownership by Quarter for Patterson Companies (NASDAQ:PDCO)

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