Patterson Companies to announce dividend increase

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Dental health product manufacturer Patterson Companies (PDCO) is likely to announce a dividend increase this week. The company has a seven-year streak of increases, and currently has a yield of 2.15%. PDCO shares have risen 4.9% on the year.

Technical Analysis

PDCO was recently trading at $44.65, down $5.75 from its 12-month high and $8.19 above its 12-month low. Overall technical indicators for PDCO are bullish with a weak upward trend. The stock has recent support above $42.50 and recent resistance below $46.05. Of the nine analysts who cover the stock, three rate it a “strong buy”, five rate it a “hold”, and one rates it a “sell”. The stock receives S&P Capital IQ’s 3 STARS “Hold” ranking.

Analysts' Thoughts

Patterson Companies has a seven-year streak of increases, and with a payout ratio of just 41.7%, the company can easily afford to extend its streak when it announces its next dividend. The company tends to announce its dividend increases during the third week of March, and there is no reason to believe the company will veer from that schedule this year. Last year the company boosted its dividend by 9.0%, and in the previous year it boosted its payout by 10.0%. Expect a similar increase this year, with the quarterly distribution rising from $0.24 to around $0.27, which would translate to an increase of 12.5%. Expect the announcement this week, with the stock trading ex-dividend mid-April.

PDCO
About Patterson Companies Inc.

Patterson is one of the largest distributors and wholesalers of dental and animal health products, equipment, and devices in the United States. The firm offers dental practice management products, including office software products, technical, financial, and educational services, to thousands of dental practices throughout North America. It also is a major supplier of animal health products to vets and production companies in the United Kingdom.

  • Last Price:
    $24.20
  • Previous Close:
    $23.46
  • Change:
    $0.74 (3.15%)
  • Open:
    $23.47
  • Volume:
    2,318,570
  • Average Volume (100 Day):
    782,682
  • Market Capitalization:
    $2.3 B
  • Day's Range:
    $23.38 - $24.36
  • Dividend Yield:
    4.43%
  • 52-week Range:
    $27 - $18.94
  • P-E:
    28.60
  • EPS:
    $0.82
  • Earnings Date:
    6/27/19
  • Ex Dividend Date:
    7/11/19
  • Sector:
    Healthcare
  • Industry:
    Medical Distribution
  • Analyst Average Recommendation:
    Hold

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