Nicola Wealth Management LTD. Has $3.86 Million Position in Patterson Companies, Inc. (NASDAQ:PDCO)

Nicola Wealth Management LTD. raised its stake in shares of Patterson Companies, Inc. (NASDAQ:PDCO - Free Report) by 35.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 176,800 shares of the company's stock after buying an additional 46,000 shares during the period. Nicola Wealth Management LTD. owned 0.20% of Patterson Companies worth $3,861,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in PDCO. Vanguard Group Inc. raised its holdings in Patterson Companies by 7.9% in the 1st quarter. Vanguard Group Inc. now owns 10,018,184 shares of the company's stock worth $277,003,000 after acquiring an additional 730,819 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Patterson Companies by 0.6% in the second quarter. Dimensional Fund Advisors LP now owns 3,915,315 shares of the company's stock valued at $94,436,000 after purchasing an additional 23,344 shares during the last quarter. Westwood Holdings Group Inc. lifted its position in shares of Patterson Companies by 3.6% during the 1st quarter. Westwood Holdings Group Inc. now owns 2,370,075 shares of the company's stock worth $65,533,000 after purchasing an additional 82,522 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Patterson Companies by 13.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,183,940 shares of the company's stock worth $47,697,000 after purchasing an additional 258,042 shares during the last quarter. Finally, River Road Asset Management LLC boosted its stake in Patterson Companies by 3.6% during the 3rd quarter. River Road Asset Management LLC now owns 1,988,217 shares of the company's stock valued at $43,423,000 after purchasing an additional 68,947 shares during the period. Institutional investors and hedge funds own 85.43% of the company's stock.

Patterson Companies Price Performance

NASDAQ PDCO traded down $0.43 on Thursday, hitting $19.57. 892,007 shares of the company were exchanged, compared to its average volume of 944,486. The company has a current ratio of 1.30, a quick ratio of 0.67 and a debt-to-equity ratio of 0.34. The company has a market cap of $1.72 billion, a P/E ratio of 10.69, a P/E/G ratio of 1.51 and a beta of 1.02. Patterson Companies, Inc. has a 1-year low of $19.52 and a 1-year high of $32.58. The firm has a 50 day moving average of $21.10 and a two-hundred day moving average of $23.32.

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

Patterson Companies Announces Dividend

The company also recently disclosed 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 annualized dividend and a yield of 5.31%. Patterson Companies's dividend payout ratio is currently 56.83%.

Analysts Set New Price Targets

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

Patterson Companies Company 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.