Third Avenue Management LLC boosted its stake in Patterson Companies, Inc. (NASDAQ:PDCO) by 60.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 131,100 shares of the company’s stock after acquiring an additional 49,600 shares during the quarter. Third Avenue Management LLC owned about 0.14% of Patterson Companies worth $5,068,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PDCO. Ameriprise Financial Inc. boosted its holdings in Patterson Companies by 25.8% in the 1st quarter. Ameriprise Financial Inc. now owns 49,966 shares of the company’s stock worth $2,261,000 after acquiring an additional 10,250 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Patterson Companies by 6.3% during the 1st quarter. JPMorgan Chase & Co. now owns 20,059 shares of the company’s stock valued at $907,000 after buying an additional 1,189 shares during the last quarter. Teachers Advisors LLC boosted its stake in shares of Patterson Companies by 3.4% during the 1st quarter. Teachers Advisors LLC now owns 110,321 shares of the company’s stock valued at $4,990,000 after buying an additional 3,651 shares during the last quarter. Royce & Associates LP purchased a new position in shares of Patterson Companies during the 1st quarter valued at approximately $678,000. Finally, Thrivent Financial For Lutherans purchased a new position in shares of Patterson Companies during the 1st quarter valued at approximately $1,551,000. Hedge funds and other institutional investors own 88.79% of the company’s stock.
Several brokerages recently issued reports on PDCO. Royal Bank Of Canada started coverage on Patterson Companies in a research note on Tuesday, September 19th. They set a “sector perform” rating and a $42.00 price objective on the stock. Robert W. Baird reaffirmed a “buy” rating and issued a $44.00 target price on shares of Patterson Companies in a research report on Friday, November 10th. Stifel Nicolaus dropped their target price on Patterson Companies from $39.00 to $34.00 and set a “sell” rating on the stock in a research report on Tuesday, August 15th. BidaskClub lowered Patterson Companies from a “sell” rating to a “strong sell” rating in a research report on Friday, August 4th. Finally, Cleveland Research reissued a “hold” rating on shares of Patterson Companies in a report on Tuesday, August 22nd. Five research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $41.64.
In related news, CFO Ann B. Gugino sold 750 shares of the stock in a transaction on Wednesday, October 11th. The stock was sold at an average price of $36.73, for a total value of $27,547.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.46% of the company’s stock.
Patterson Companies, Inc. (PDCO) opened at $33.53 on Wednesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.01 and a quick ratio of 1.15. Patterson Companies, Inc. has a 1 year low of $32.17 and a 1 year high of $49.26. The firm has a market capitalization of $3,210.00, a price-to-earnings ratio of 14.70, a P/E/G ratio of 1.72 and a beta of 0.96.
Patterson Companies (NASDAQ:PDCO) last released its quarterly earnings results on Thursday, August 24th. The company reported $0.44 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.44. Patterson Companies had a return on equity of 15.51% and a net margin of 2.93%. The business had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same quarter last year, the company posted $0.51 EPS. Patterson Companies’s revenue for the quarter was down 1.4% on a year-over-year basis. research analysts expect that Patterson Companies, Inc. will post 2.29 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, October 27th. Investors of record on Friday, October 13th were given a $0.26 dividend. The ex-dividend date of this dividend was Thursday, October 12th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.10%. Patterson Companies’s dividend payout ratio (DPR) is 59.43%.
Patterson Companies Company Profile
Patterson Companies, Inc is a value-added distributor focused on providing a customer experience to professionals in the dental and animal health markets. The Company operates through three segments: dental, animal health and corporate. Dental and Animal health are strategic business units that offer similar products and services to different customer bases.
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