Patterson Companies (PDCO) Declares $0.26 Dividend

Patterson Companies said on March 14, 2023 that its board of directors declared a regular quarterly dividend of $0.26 per share ($1.04 annualized). Previously, the company paid $0.26 per share.

Shares must be purchased before the ex-div date of April 20, 2023 to qualify for the dividend. Shareholders of record as of April 21, 2023 will receive the payment on May 5, 2023.

At the current share price of $25.74 / share, the stock's dividend yield is 4.04%. Looking back five years and taking a sample every week, the average dividend yield has been 4.22%, the lowest has been 2.92%, and the highest has been 7.94%. The standard deviation of yields is 0.92 (n=235).

The current dividend yield is 0.20 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.52. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company has not increased its dividend in the last three years.

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Analyst Price Forecast Suggests 27.00% Upside

As of March 16, 2023, the average one-year price target for Patterson Companies is $32.69. The forecasts range from a low of $28.28 to a high of $37.80. The average price target represents an increase of 27.00% from its latest reported closing price of $25.74.

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The projected annual revenue for Patterson Companies is $6,573MM, an increase of 2.88%. The projected annual non-GAAP EPS is $2.33.

What is the Fund Sentiment?

There are 699 funds or institutions reporting positions in Patterson Companies. This is an increase of 46 owner(s) or 7.04% in the last quarter. Average portfolio weight of all funds dedicated to PDCO is 0.21%, an increase of 7.45%. Total shares owned by institutions increased in the last three months by 1.55% to 94,668K shares. The put/call ratio of PDCO is 0.87, indicating a bullish outlook.

What are Large Shareholders Doing?

Price T Rowe Associates holds 4,367K shares representing 4.47% ownership of the company. In it's prior filing, the firm reported owning 6,536K shares, representing a decrease of 49.69%. The firm decreased its portfolio allocation in PDCO by 23.45% over the last quarter.

American Century Companies holds 2,971K shares representing 3.04% ownership of the company. In it's prior filing, the firm reported owning 2,937K shares, representing an increase of 1.15%. The firm increased its portfolio allocation in PDCO by 9.60% over the last quarter.

River Road Asset Management holds 2,815K shares representing 2.88% ownership of the company. In it's prior filing, the firm reported owning 2,784K shares, representing an increase of 1.12%. The firm increased its portfolio allocation in PDCO by 8.56% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 2,677K shares representing 2.74% ownership of the company. In it's prior filing, the firm reported owning 2,644K shares, representing an increase of 1.24%. The firm increased its portfolio allocation in PDCO by 9.12% over the last quarter.

IJH - iShares Core S&P Mid-Cap ETF holds 2,675K shares representing 2.74% ownership of the company. In it's prior filing, the firm reported owning 2,541K shares, representing an increase of 5.03%. The firm increased its portfolio allocation in PDCO by 7.24% over the last quarter.

Patterson Companies Background Information
(This description is provided by the company.)

Patterson Companies Inc. connects dental and animal health customers in North America and the U.K. to the latest products, technologies, services and innovative business solutions that enable operational and professional success. Its comprehensive portfolio, distribution network and supply chain is equaled only by its dedicated, knowledgeable people who deliver unrivalled expertise and unmatched customer service and support.

This story originally appeared on Fintel.