Patterson Companies, Inc. (NASDAQ:PDCO – Get Free Report) declared a quarterly dividend on Wednesday, December 6th, RTT News reports. Stockholders of record on Friday, January 19th will be given a dividend of 0.26 per share on Friday, February 2nd. This represents a $1.04 annualized dividend and a dividend yield of 3.94%.

Patterson Companies has a dividend payout ratio of 40.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Patterson Companies to earn $2.60 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 40.0%.

Patterson Companies Stock Performance

Shares of NASDAQ:PDCO traded down $0.21 during trading on Wednesday, hitting $26.38. 1,102,135 shares of the company traded hands, compared to its average volume of 844,661. The stock has a market capitalization of $2.44 billion, a price-to-earnings ratio of 12.91, a PEG ratio of 1.33 and a beta of 1.17. The business’s fifty day moving average is $30.18 and its 200-day moving average is $30.54. Patterson Companies has a one year low of $25.00 and a one year high of $34.53. The company has a quick ratio of 0.81, a current ratio of 1.56 and a debt-to-equity ratio of 0.43.

Patterson Companies (NASDAQ:PDCO – Get Free Report) last posted its earnings results on Wednesday, November 29th. The company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.09). Patterson Companies had a net margin of 3.05% and a return on equity of 20.91%. The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same period last year, the company posted $0.63 earnings per share. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. As a group, equities analysts predict that Patterson Companies will post 2.38 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on PDCO shares. Morgan Stanley decreased their price objective on Patterson Companies from $38.00 to $35.00 and set an “equal weight” rating for the company in a report on Thursday, November 30th. Evercore ISI decreased their price objective on Patterson Companies from $36.00 to $32.00 in a report on Wednesday, October 11th. The Goldman Sachs Group decreased their price objective on Patterson Companies from $35.00 to $30.00 and set a “neutral” rating for the company in a report on Thursday, November 30th. StockNews.com lowered Patterson Companies from a “buy” rating to a “hold” rating in a report on Friday, November 17th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $32.00 price target on shares of Patterson Companies in a research note on Tuesday, November 28th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $34.00.

View Our Latest Report on PDCO

Insider Activity

In other news, CFO Kevin Michael Barry sold 1,627 shares of the stock in a transaction on Friday, December 1st. The stock was sold at an average price of $25.36, for a total transaction of $41,260.72. Following the completion of the sale, the chief financial officer now owns 23,103 shares in the company, valued at approximately $585,892.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Kevin Michael Barry sold 1,627 shares of the stock in a transaction on Friday, December 1st. The stock was sold at an average price of $25.36, for a total transaction of $41,260.72. Following the completion of the sale, the chief financial officer now owns 23,103 shares in the company, valued at approximately $585,892.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Timothy E. Rogan sold 9,260 shares of the stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $29.75, for a total value of $275,485.00. Following the sale, the insider now owns 40,382 shares of the company’s stock, valued at approximately $1,201,364.50. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.

Institutional Trading of Patterson Companies

A number of hedge funds have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Patterson Companies by 27.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,773 shares of the company’s stock valued at $50,000 after purchasing an additional 377 shares in the last quarter. Captrust Financial Advisors lifted its holdings in shares of Patterson Companies by 28.7% in the second quarter. Captrust Financial Advisors now owns 1,815 shares of the company’s stock valued at $55,000 after purchasing an additional 405 shares in the last quarter. LPL Financial LLC lifted its holdings in shares of Patterson Companies by 3.2% in the fourth quarter. LPL Financial LLC now owns 13,248 shares of the company’s stock valued at $371,000 after purchasing an additional 406 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of Patterson Companies by 2.8% in the third quarter. Commonwealth Equity Services LLC now owns 16,670 shares of the company’s stock valued at $400,000 after purchasing an additional 452 shares in the last quarter. Finally, Money Concepts Capital Corp lifted its holdings in shares of Patterson Companies by 195.7% in the fourth quarter. Money Concepts Capital Corp now owns 902 shares of the company’s stock valued at $25,000 after purchasing an additional 597 shares in the last quarter. Hedge funds and other institutional investors own 79.24% of the company’s stock.

Patterson Companies Company Profile (Get Free Report)

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.

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Original: MarketBeat News Feed: Patterson Companies, Inc. (NASDAQ:PDCO) Plans $0.26 Quarterly Dividend