Hotchkis & Wiley Capital Management LLC Takes $11.18 Million Position in Patterson Companies, Inc. (NASDAQ:PDCO)

Hotchkis & Wiley Capital Management LLC bought a new stake in shares of Patterson Companies, Inc. (NASDAQ:PDCO - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 512,040 shares of the company's stock, valued at approximately $11,183,000. Hotchkis & Wiley Capital Management LLC owned 0.58% of Patterson Companies as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its stake in Patterson Companies by 5.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 51,136 shares of the company's stock worth $1,414,000 after purchasing an additional 2,630 shares in the last quarter. Mather Group LLC. raised its position in shares of Patterson Companies by 1,376.1% during the 2nd quarter. Mather Group LLC. now owns 1,609 shares of the company's stock valued at $39,000 after buying an additional 1,500 shares during the period. CWM LLC raised its position in shares of Patterson Companies by 655.0% during the 2nd quarter. CWM LLC now owns 4,492 shares of the company's stock valued at $108,000 after buying an additional 3,897 shares during the period. SG Americas Securities LLC raised its position in shares of Patterson Companies by 70.4% during the 2nd quarter. SG Americas Securities LLC now owns 15,420 shares of the company's stock valued at $372,000 after buying an additional 6,370 shares during the period. Finally, Sound Income Strategies LLC raised its position in shares of Patterson Companies by 7.8% during the 2nd quarter. Sound Income Strategies LLC now owns 667,873 shares of the company's stock valued at $16,109,000 after buying an additional 48,344 shares during the period. 85.43% of the stock is currently owned by institutional investors and hedge funds.

Patterson Companies Stock Performance

Shares of NASDAQ:PDCO traded up $0.27 on Wednesday, reaching $21.88. The company's stock had a trading volume of 1,160,721 shares, compared to its average volume of 949,365. The stock's 50-day moving average is $20.98 and its two-hundred day moving average is $22.82. Patterson Companies, Inc. has a 52-week low of $19.45 and a 52-week high of $30.68. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 0.67. The stock has a market capitalization of $1.93 billion, a P/E ratio of 11.96, a PEG ratio of 1.59 and a beta of 1.00.

Patterson Companies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Wednesday, October 16th were paid a dividend of $0.26 per share. The ex-dividend date was Friday, October 18th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.75%. Patterson Companies's dividend payout ratio (DPR) is 56.83%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PDCO. JPMorgan Chase & Co. dropped their target price on shares of Patterson Companies from $29.00 to $26.00 and set a "neutral" rating for the company in a report on Thursday, August 29th. Robert W. Baird dropped their target price on shares of Patterson Companies from $30.00 to $28.00 and set a "neutral" rating for the company in a report on Thursday, August 29th. UBS Group dropped their target price on shares of Patterson Companies from $27.00 to $24.00 and set a "neutral" rating for the company in a report on Thursday, September 5th. Bank of America dropped their target price on shares of Patterson Companies from $31.00 to $29.00 and set a "buy" rating for the company in a report on Thursday, August 29th. Finally, Mizuho assumed coverage on shares of Patterson Companies in a research note on Wednesday. They issued a "neutral" rating and a $23.00 price target for the company. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Patterson Companies presently has a consensus rating of "Hold" and an average price target of $27.11.

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.