Charles Schwab Investment Management Inc. Acquires 245,376 Shares of Patterson Companies, Inc. (NASDAQ:PDCO)

Charles Schwab Investment Management Inc. increased its holdings in shares of Patterson Companies, Inc. (NASDAQ:PDCO - Free Report) by 15.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,799,942 shares of the company's stock after acquiring an additional 245,376 shares during the period. Charles Schwab Investment Management Inc. owned about 2.04% of Patterson Companies worth $55,546,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BNP Paribas Financial Markets grew its stake in shares of Patterson Companies by 31.5% during the third quarter. BNP Paribas Financial Markets now owns 33,257 shares of the company's stock valued at $726,000 after purchasing an additional 7,969 shares during the last quarter. Equity Investment Corp boosted its stake in shares of Patterson Companies by 10.6% in the 3rd quarter. Equity Investment Corp now owns 1,739,669 shares of the company's stock valued at $37,994,000 after purchasing an additional 166,899 shares during the last quarter. Goodman Financial Corp grew its position in shares of Patterson Companies by 19.1% during the 3rd quarter. Goodman Financial Corp now owns 543,282 shares of the company's stock worth $11,865,000 after buying an additional 86,972 shares during the period. Mork Capital Management LLC raised its stake in shares of Patterson Companies by 142.9% during the third quarter. Mork Capital Management LLC now owns 84,980 shares of the company's stock worth $1,856,000 after buying an additional 50,000 shares during the last quarter. Finally, Barclays PLC lifted its holdings in Patterson Companies by 37.2% in the third quarter. Barclays PLC now owns 165,715 shares of the company's stock valued at $3,619,000 after buying an additional 44,906 shares during the period. 85.43% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

Several analysts have commented on PDCO shares. Piper Sandler dropped their target price on shares of Patterson Companies from $26.00 to $24.00 and set a "neutral" rating for the company in a research report on Friday, December 6th. StockNews.com initiated coverage on Patterson Companies in a research note on Tuesday, March 11th. They issued a "hold" rating on the stock. Mizuho started coverage on Patterson Companies in a research report on Wednesday, December 4th. They set a "neutral" rating and a $23.00 target price for the company. Robert W. Baird increased their price target on shares of Patterson Companies from $25.00 to $31.00 and gave the company a "neutral" rating in a research report on Thursday, December 12th. Finally, Leerink Partners restated a "market perform" rating and set a $31.35 price objective (up previously from $29.00) on shares of Patterson Companies in a report on Wednesday, December 11th. Eleven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $26.57.

Patterson Companies Stock Up 0.1 %

PDCO traded up $0.04 during trading on Monday, hitting $31.18. The company had a trading volume of 511,853 shares, compared to its average volume of 1,012,486. The firm's 50-day moving average price is $31.01 and its 200 day moving average price is $25.92. Patterson Companies, Inc. has a one year low of $19.45 and a one year high of $31.79. The company has a market capitalization of $2.76 billion, a PE ratio of 18.23, a PEG ratio of 2.71 and a beta of 0.99. The company has a quick ratio of 0.76, a current ratio of 1.37 and a debt-to-equity ratio of 0.34.

About Patterson Companies

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.