Patterson Companies, Inc. (NASDAQ:PDCO) Stock Position Increased by Private Management Group Inc.

Private Management Group Inc. boosted its position in Patterson Companies, Inc. (NASDAQ:PDCO - Free Report) by 5.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,515,255 shares of the company's stock after acquiring an additional 83,589 shares during the quarter. Patterson Companies accounts for 1.2% of Private Management Group Inc.'s investment portfolio, making the stock its 24th biggest position. Private Management Group Inc. owned 1.72% of Patterson Companies worth $33,093,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in PDCO. LRI Investments LLC increased its position in shares of 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 in the last quarter. Mather Group LLC. increased its holdings in Patterson Companies by 1,376.1% in the 2nd quarter. Mather Group LLC. now owns 1,609 shares of the company's stock valued at $39,000 after purchasing an additional 1,500 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in Patterson Companies in the second quarter valued at about $41,000. Family Firm Inc. acquired a new position in shares of Patterson Companies during the second quarter worth about $45,000. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Patterson Companies in the second quarter worth about $45,000. Hedge funds and other institutional investors own 85.43% of the company's stock.

Patterson Companies Stock Down 0.8 %

Shares of PDCO stock traded down $0.16 during trading hours on Friday, hitting $20.85. 659,970 shares of the company were exchanged, compared to its average volume of 715,121. The stock has a market capitalization of $1.84 billion, a price-to-earnings ratio of 11.39, a P/E/G ratio of 1.53 and a beta of 1.02. Patterson Companies, Inc. has a one year low of $19.89 and a one year high of $32.58. The business's 50-day simple moving average is $21.44 and its two-hundred day simple moving average is $23.59. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.67 and a current ratio of 1.30.

Patterson Companies (NASDAQ:PDCO - Get Free Report) last released its earnings results on Wednesday, August 28th. The company reported $0.24 EPS for the quarter, missing analysts' consensus estimates of $0.32 by ($0.08). The firm had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.59 billion. Patterson Companies had a return on equity of 19.87% and a net margin of 2.58%. The company's quarterly revenue was down 2.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.40 EPS. Sell-side analysts predict that Patterson Companies, Inc. will post 2.32 EPS for the current fiscal year.

Patterson Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Wednesday, October 16th were issued 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 4.99%. Patterson Companies's dividend payout ratio (DPR) is 56.83%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Robert W. Baird dropped their target price on Patterson Companies from $30.00 to $28.00 and set a "neutral" rating on the stock in a report on Thursday, August 29th. UBS Group dropped their price objective on shares of Patterson Companies from $27.00 to $24.00 and set a "neutral" rating on the stock in a research note on Thursday, September 5th. Evercore ISI lowered 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 report on Tuesday, October 8th. JPMorgan Chase & Co. dropped their price target on shares of Patterson Companies from $29.00 to $26.00 and set a "neutral" rating on the stock in a research note on Thursday, August 29th. Finally, Bank of America decreased their price objective on shares of Patterson Companies from $31.00 to $29.00 and set a "buy" rating for the company in a research report on Thursday, August 29th. Nine investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Patterson Companies presently has a consensus rating of "Hold" and a consensus target price of $28.30.

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.