Charles Schwab Investment Management Inc. lifted its holdings in shares of Patterson Companies, Inc. (NASDAQ:PDCO - Free Report) by 5.5% in the third quarter, according to its most recent filing with the SEC. The firm owned 1,554,566 shares of the company's stock after acquiring an additional 81,524 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.76% of Patterson Companies worth $33,952,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently made changes to their positions in PDCO. Dimensional Fund Advisors LP lifted its holdings in Patterson Companies by 0.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,915,315 shares of the company's stock valued at $94,436,000 after purchasing an additional 23,344 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Patterson Companies by 13.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,183,940 shares of the company's stock valued at $47,697,000 after purchasing an additional 258,042 shares during the last quarter. River Road Asset Management LLC increased its position in Patterson Companies by 3.6% in the 3rd quarter. River Road Asset Management LLC now owns 1,988,217 shares of the company's stock valued at $43,423,000 after acquiring an additional 68,947 shares in the last quarter. Equity Investment Corp increased its position in 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 acquiring an additional 166,899 shares in the last quarter. Finally, Private Management Group Inc. increased its position in Patterson Companies by 5.8% in the 3rd quarter. Private Management Group Inc. now owns 1,515,255 shares of the company's stock valued at $33,093,000 after acquiring an additional 83,589 shares in the last quarter. 85.43% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several equities research analysts have recently commented on the stock. UBS Group lowered their price target on shares of Patterson Companies from $27.00 to $24.00 and set a "neutral" rating for the company in a research report on Thursday, September 5th. JPMorgan Chase & Co. lowered their price target on shares of Patterson Companies from $29.00 to $26.00 and set a "neutral" rating for the company in a research report on Thursday, August 29th. Robert W. Baird lowered their price target on shares of Patterson Companies from $30.00 to $28.00 and set a "neutral" rating for the company in a research report on Thursday, August 29th. Mizuho initiated coverage on shares of Patterson Companies in a research note on Wednesday. They set a "neutral" rating and a $23.00 price objective on the stock. Finally, Bank of America reduced their price objective on shares of Patterson Companies from $31.00 to $29.00 and set a "buy" rating on the stock in a research note on Thursday, August 29th. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, Patterson Companies currently has an average rating of "Hold" and a consensus price target of $27.11.
Read Our Latest Stock Report on PDCO
Patterson Companies Stock Up 1.2 %
Shares of PDCO stock traded up $0.27 during trading on Wednesday, reaching $21.88. The company's stock had a trading volume of 1,160,771 shares, compared to its average volume of 947,115. The business has a fifty day moving average price of $20.97 and a 200-day moving average price of $22.83. The company has a quick ratio of 0.67, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The company has a market cap of $1.93 billion, a price-to-earnings ratio of 11.81, a price-to-earnings-growth ratio of 1.59 and a beta of 1.00. Patterson Companies, Inc. has a one year low of $19.45 and a one year high of $30.68.
Patterson Companies Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Wednesday, October 16th were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.75%. The ex-dividend date was Friday, October 18th. Patterson Companies's dividend payout ratio is presently 56.83%.
Patterson Companies Profile
(
Free Report)
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.
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