Patterson Companies, Inc. Declares Quarterly Dividend of $0.26 (NASDAQ:PDCO)

Patterson Companies, Inc. (NASDAQ:PDCO) announced a quarterly dividend on Wednesday, June 12th, Zacks reports. Investors of record on Friday, July 12th will be paid a dividend of 0.26 per share on Friday, July 26th. This represents a $1.04 annualized dividend and a yield of 4.68%. The ex-dividend date of this dividend is Thursday, July 11th.

Patterson Companies has increased its dividend by an average of 6.5% per year over the last three years and has raised its dividend every year for the last 9 years. Patterson Companies has a payout ratio of 72.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Patterson Companies to earn $1.49 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 69.8%.

Shares of PDCO stock opened at $22.20 on Wednesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.96 and a current ratio of 1.83. Patterson Companies has a fifty-two week low of $18.94 and a fifty-two week high of $26.60. The business has a 50-day moving average price of $22.42. The firm has a market cap of $2.15 billion, a price-to-earnings ratio of 15.86, a P/E/G ratio of 2.40 and a beta of 1.29.

Patterson Companies (NASDAQ:PDCO) last announced its quarterly earnings data on Thursday, June 27th. The company reported $0.37 EPS for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.03). Patterson Companies had a return on equity of 8.94% and a net margin of 1.50%. The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the prior year, the business posted $0.30 EPS. Patterson Companies’s revenue was up 2.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Patterson Companies will post 1.39 earnings per share for the current fiscal year.

PDCO has been the topic of several recent analyst reports. UBS Group set a $24.00 target price on Patterson Companies and gave the stock a “hold” rating in a report on Tuesday, June 25th. ValuEngine cut shares of Patterson Companies from a “hold” rating to a “sell” rating in a report on Thursday, April 18th. Guggenheim initiated coverage on shares of Patterson Companies in a report on Wednesday, April 17th. They set a “neutral” rating and a $23.00 price target on the stock. Zacks Investment Research upgraded shares of Patterson Companies from a “sell” rating to a “hold” rating and set a $23.00 price target on the stock in a report on Monday, June 10th. Finally, JPMorgan Chase & Co. cut their price target on shares of Patterson Companies from $22.00 to $20.00 and set an “underweight” rating on the stock in a report on Friday, June 28th. Five research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. The stock has an average rating of “Hold” and an average price target of $21.63.

Patterson Companies Company Profile

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.

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Dividend History for Patterson Companies (NASDAQ:PDCO)

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