Mork Capital Management LLC Buys 50,000 Shares of Patterson Companies, Inc. (NASDAQ:PDCO)

Mork Capital Management LLC grew its holdings in shares of Patterson Companies, Inc. (NASDAQ:PDCO - Free Report) by 142.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 84,980 shares of the company's stock after buying an additional 50,000 shares during the quarter. Patterson Companies accounts for about 1.3% of Mork Capital Management LLC's holdings, making the stock its 17th biggest position. Mork Capital Management LLC owned approximately 0.10% of Patterson Companies worth $1,856,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. LRI Investments LLC raised its position in Patterson Companies by 201.2% in the second quarter. LRI Investments LLC now owns 1,262 shares of the company's stock worth $30,000 after acquiring an additional 843 shares during the period. Mather Group LLC. raised its position in Patterson Companies by 1,376.1% in the second quarter. Mather Group LLC. now owns 1,609 shares of the company's stock worth $39,000 after acquiring an additional 1,500 shares during the period. Canada Pension Plan Investment Board bought a new stake in shares of Patterson Companies in the second quarter valued at approximately $41,000. Family Firm Inc. bought a new stake in shares of Patterson Companies in the second quarter valued at approximately $45,000. Finally, Meeder Asset Management Inc. purchased a new position in Patterson Companies during the second quarter valued at approximately $45,000. 85.43% of the stock is currently owned by institutional investors and hedge funds.

Patterson Companies Trading Up 1.2 %

NASDAQ:PDCO traded up $0.27 during midday trading on Wednesday, reaching $21.88. 1,159,745 shares of the stock traded hands, compared to its average volume of 947,115. The company has a fifty day moving average of $20.97 and a 200 day moving average of $22.83. Patterson Companies, Inc. has a 12 month low of $19.45 and a 12 month high of $30.68. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.67 and a current ratio of 1.30. The stock has a market capitalization of $1.93 billion, a P/E ratio of 11.81, a PEG ratio of 1.59 and a beta of 1.00.

Patterson Companies Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. UBS Group reduced their price objective on shares of Patterson Companies from $27.00 to $24.00 and set a "neutral" rating for the company in a research note on Thursday, September 5th. JPMorgan Chase & Co. reduced 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 note on Thursday, August 29th. Evercore ISI cut their price target on shares of Patterson Companies from $23.00 to $22.00 and set an "in-line" rating for the company in a research note on Tuesday, October 8th. Bank of America cut their price target on shares of Patterson Companies from $31.00 to $29.00 and set a "buy" rating for the company in a research note on Thursday, August 29th. Finally, Mizuho initiated 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 assigned a buy rating to the stock. According to data from MarketBeat, Patterson Companies has an average 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.