Sit Investment Associates Inc. Decreases Stock Holdings in Patterson Companies, Inc. (NASDAQ:PDCO)

Sit Investment Associates Inc. decreased its holdings in Patterson Companies, Inc. (NASDAQ:PDCO - Free Report) by 84.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,000 shares of the company's stock after selling 21,085 shares during the period. Sit Investment Associates Inc.'s holdings in Patterson Companies were worth $123,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Patterson Companies by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 9,409,915 shares of the company's stock valued at $290,390,000 after purchasing an additional 47,897 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Patterson Companies by 24.1% in the fourth quarter. American Century Companies Inc. now owns 2,711,030 shares of the company's stock worth $83,662,000 after buying an additional 527,054 shares in the last quarter. Equity Investment Corp boosted its stake in Patterson Companies by 16.6% during the fourth quarter. Equity Investment Corp now owns 2,028,964 shares of the company's stock valued at $62,614,000 after buying an additional 289,295 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Patterson Companies by 15.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,799,942 shares of the company's stock valued at $55,546,000 after buying an additional 245,376 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Patterson Companies by 18.0% during the 4th quarter. Bank of New York Mellon Corp now owns 1,455,729 shares of the company's stock valued at $44,924,000 after buying an additional 222,005 shares in the last quarter. Hedge funds and other institutional investors own 85.43% of the company's stock.

Patterson Companies Stock Performance

Shares of NASDAQ PDCO traded down $0.03 during midday trading on Friday, reaching $30.91. 3,530,899 shares of the stock were exchanged, compared to its average volume of 1,148,949. The company has a quick ratio of 0.76, a current ratio of 1.37 and a debt-to-equity ratio of 0.34. The firm has a market cap of $2.73 billion, a price-to-earnings ratio of 18.08, a PEG ratio of 2.71 and a beta of 0.73. The firm has a 50-day simple moving average of $31.11 and a two-hundred day simple moving average of $27.35. Patterson Companies, Inc. has a twelve month low of $19.45 and a twelve month high of $31.79.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PDCO. Morgan Stanley increased their target price on Patterson Companies from $27.00 to $31.35 and gave the company an "equal weight" rating in a research report on Tuesday, December 17th. StockNews.com assumed coverage on shares of Patterson Companies in a research report on Saturday. They set a "hold" rating for the company. Eleven research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Patterson Companies currently has an average rating of "Hold" and an average target price of $26.57.

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.