Patterson Companies, Inc. (NASDAQ:PDCO) Shares Purchased by Chartwell Investment Partners LLC

Chartwell Investment Partners LLC lifted its position in shares of Patterson Companies, Inc. (NASDAQ:PDCO - Free Report) by 32.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 359,681 shares of the company's stock after purchasing an additional 88,968 shares during the quarter. Chartwell Investment Partners LLC owned 0.41% of Patterson Companies worth $7,856,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of PDCO. Atria Investments Inc grew its stake in shares of Patterson Companies by 10.6% in the 3rd quarter. Atria Investments Inc now owns 10,115 shares of the company's stock valued at $221,000 after buying an additional 973 shares during the period. Verity Asset Management Inc. bought a new position in Patterson Companies during the 3rd quarter worth about $238,000. Keynote Financial Services LLC bought a new position in shares of Patterson Companies in the third quarter worth about $418,000. River Road Asset Management LLC grew its holdings in shares of Patterson Companies by 3.6% in the third 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. Finally, Van ECK Associates Corp lifted its holdings in Patterson Companies by 11.6% in the 3rd quarter. Van ECK Associates Corp now owns 72,717 shares of the company's stock worth $1,542,000 after buying an additional 7,585 shares during the period. 85.43% of the stock is currently owned by institutional investors and hedge funds.

Patterson Companies Stock Performance

Shares of PDCO stock traded down $0.29 during trading on Tuesday, reaching $20.76. 1,166,936 shares of the company's stock traded hands, compared to its average volume of 944,518. Patterson Companies, Inc. has a 1 year low of $19.89 and a 1 year high of $32.58. The company has a market capitalization of $1.83 billion, a P/E ratio of 11.50, a PEG ratio of 1.51 and a beta of 1.02. The firm's 50-day moving average is $21.17 and its 200 day moving average is $23.38. The company has a current ratio of 1.30, a quick ratio of 0.67 and a debt-to-equity ratio of 0.34.

Patterson Companies (NASDAQ:PDCO - Get Free Report) last posted its earnings results on Wednesday, August 28th. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.08). Patterson Companies had a return on equity of 19.87% and a net margin of 2.58%. The business had revenue of $1.54 billion for the quarter, compared to analysts' expectations of $1.59 billion. During the same quarter in the previous year, the firm earned $0.40 EPS. Patterson Companies's revenue for the quarter was down 2.3% compared to the same quarter last year. Equities research analysts expect that Patterson Companies, Inc. will post 2.32 EPS for the current year.

Patterson Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Wednesday, October 16th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 5.01%. The ex-dividend date of this dividend was Friday, October 18th. Patterson Companies's dividend payout ratio (DPR) is presently 56.83%.

Analysts Set New Price Targets

Several analysts have issued reports on PDCO shares. JPMorgan Chase & Co. lowered their price objective 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. Bank of America reduced their target price on shares of Patterson Companies from $31.00 to $29.00 and set a "buy" rating on the stock in a report on Thursday, August 29th. UBS Group dropped their target price on Patterson Companies from $27.00 to $24.00 and set a "neutral" rating on the stock in a report on Thursday, September 5th. Robert W. Baird cut their target price on Patterson Companies from $30.00 to $28.00 and set a "neutral" rating on the stock in a research report on Thursday, August 29th. Finally, Evercore ISI lowered their price target on shares of Patterson Companies from $23.00 to $22.00 and set an "in-line" rating on the stock in a research report on Tuesday, October 8th. Nine analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $28.30.

Patterson Companies Profile

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.