Steel Grove Capital Advisors LLC Lowers Stock Position in Patterson Companies, Inc. (NASDAQ:PDCO)

Steel Grove Capital Advisors LLC lowered its stake in shares of Patterson Companies, Inc. (NASDAQ:PDCO - Free Report) by 75.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,608 shares of the company's stock after selling 51,730 shares during the quarter. Steel Grove Capital Advisors LLC's holdings in Patterson Companies were worth $513,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in Patterson Companies in the fourth quarter valued at about $18,316,000. American Century Companies Inc. boosted its position in shares of Patterson Companies by 24.1% in the 4th 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. Hsbc Holdings PLC grew its stake in Patterson Companies by 2,837.3% in the 4th quarter. Hsbc Holdings PLC now owns 423,977 shares of the company's stock valued at $13,084,000 after acquiring an additional 409,543 shares during the last quarter. Alpine Associates Management Inc. acquired a new stake in Patterson Companies in the 4th quarter valued at about $10,581,000. Finally, Equity Investment Corp raised its position in Patterson Companies by 16.6% during the fourth quarter. Equity Investment Corp now owns 2,028,964 shares of the company's stock worth $62,614,000 after acquiring an additional 289,295 shares during the last quarter. 85.43% of the stock is currently owned by hedge funds and other institutional investors.

Patterson Companies Stock Performance

Shares of NASDAQ:PDCO remained flat at $31.33 during midday trading on Friday. The company has a market capitalization of $2.77 billion, a P/E ratio of 18.32, a PEG ratio of 2.71 and a beta of 0.73. The business has a 50-day moving average price of $31.17 and a two-hundred day moving average price of $28.04. Patterson Companies, Inc. has a fifty-two week low of $19.45 and a fifty-two week high of $31.79. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.37 and a quick ratio of 0.76.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on shares of Patterson Companies in a research note on Sunday, April 20th. They set a "hold" rating for the company. Eleven analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $26.57.

Patterson Companies 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.