Patterson Companies, Inc. (NASDAQ:PDCO) Holdings Raised by River Road Asset Management LLC

River Road Asset Management LLC increased its holdings in shares of Patterson Companies, Inc. (NASDAQ:PDCO - Free Report) by 3.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,988,217 shares of the company's stock after purchasing an additional 68,947 shares during the period. River Road Asset Management LLC owned 2.26% of Patterson Companies worth $43,423,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Patterson Companies by 7.9% during the 1st quarter. Vanguard Group Inc. now owns 10,018,184 shares of the company's stock worth $277,003,000 after purchasing an additional 730,819 shares during the period. Dimensional Fund Advisors LP boosted its position in Patterson Companies by 0.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,915,315 shares of the company's stock valued at $94,436,000 after buying an additional 23,344 shares during the last quarter. Westwood Holdings Group Inc. boosted its position in Patterson Companies by 3.6% in the 1st quarter. Westwood Holdings Group Inc. now owns 2,370,075 shares of the company's stock valued at $65,533,000 after buying an additional 82,522 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Patterson Companies by 13.4% in 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 buying an additional 258,042 shares during the last quarter. Finally, Equity Investment Corp purchased a new position in Patterson Companies in the 2nd quarter valued at about $37,935,000. 85.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Robert W. Baird decreased their price objective 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. UBS Group cut their target price 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 cut their target price on shares of Patterson Companies from $23.00 to $22.00 and set an "in-line" rating on the stock in a research note on Tuesday, October 8th. Bank of America cut their target price 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. Finally, JPMorgan Chase & Co. cut their target price 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. Nine investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $28.30.

Patterson Companies Stock Performance

Shares of NASDAQ:PDCO traded up $0.18 during trading hours on Tuesday, hitting $21.22. The stock had a trading volume of 806,278 shares, compared to its average volume of 942,910. The stock's fifty day simple moving average is $21.27 and its 200 day simple moving average is $23.51. 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 firm has a market capitalization of $1.87 billion, a price-to-earnings ratio of 11.60, a PEG ratio of 1.52 and a beta of 1.02. Patterson Companies, Inc. has a 1-year low of $19.89 and a 1-year high of $32.58.

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

Patterson Companies Dividend Announcement

The firm also recently announced 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. This represents a $1.04 dividend on an annualized basis and a yield of 4.90%. The ex-dividend date was Friday, October 18th. Patterson Companies's payout ratio is 56.83%.

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.