LSV Asset Management Raises Stock Position in Patterson Companies, Inc. (NASDAQ:PDCO)

LSV Asset Management increased its stake in Patterson Companies, Inc. (NASDAQ:PDCOFree Report) by 46.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 915,345 shares of the company’s stock after buying an additional 289,100 shares during the period. LSV Asset Management’s holdings in Patterson Companies were worth $27,131,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in shares of Patterson Companies by 3.5% during the 2nd quarter. BlackRock Inc. now owns 10,475,683 shares of the company’s stock valued at $348,421,000 after purchasing an additional 351,746 shares during the period. Vanguard Group Inc. raised its position in shares of Patterson Companies by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 9,099,018 shares of the company’s stock valued at $218,558,000 after purchasing an additional 147,277 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Patterson Companies by 2.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,034,343 shares of the company’s stock valued at $134,182,000 after purchasing an additional 102,014 shares during the period. State Street Corp raised its position in shares of Patterson Companies by 1.9% during the 2nd quarter. State Street Corp now owns 3,074,151 shares of the company’s stock valued at $102,246,000 after purchasing an additional 56,053 shares during the period. Finally, Morgan Stanley raised its position in shares of Patterson Companies by 44.1% during the 4th quarter. Morgan Stanley now owns 1,921,031 shares of the company’s stock valued at $53,847,000 after purchasing an additional 587,570 shares during the period. Hedge funds and other institutional investors own 79.24% of the company’s stock.

Insider Activity

In other news, CEO Donald Zurbay sold 1,868 shares of the company’s stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $26.58, for a total value of $49,651.44. Following the sale, the chief executive officer now directly owns 141,923 shares of the company’s stock, valued at approximately $3,772,313.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Donald Zurbay sold 1,868 shares of the company’s stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $26.58, for a total value of $49,651.44. Following the sale, the chief executive officer now directly owns 141,923 shares of the company’s stock, valued at approximately $3,772,313.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kevin Michael Barry sold 1,627 shares of the company’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $25.36, for a total transaction of $41,260.72. Following the completion of the sale, the chief financial officer now directly owns 23,103 shares in the company, valued at $585,892.08. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on PDCO. Evercore ISI reduced their price target on shares of Patterson Companies from $36.00 to $32.00 in a report on Wednesday, October 11th. StockNews.com cut shares of Patterson Companies from a “buy” rating to a “hold” rating in a research note on Friday, November 17th. Morgan Stanley dropped their price target on shares of Patterson Companies from $38.00 to $35.00 and set an “equal weight” rating for the company in a research note on Thursday, November 30th. The Goldman Sachs Group reduced their price target on shares of Patterson Companies from $35.00 to $30.00 and set a “neutral” rating for the company in a report on Thursday, November 30th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $32.00 price target on shares of Patterson Companies in a report on Tuesday, November 28th. Four research analysts have rated the stock with a hold rating and one has issued 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 $34.00.

Get Our Latest Analysis on PDCO

Patterson Companies Stock Down 1.0 %

Shares of NASDAQ PDCO traded down $0.31 during trading hours on Friday, hitting $30.03. 717,927 shares of the stock were exchanged, compared to its average volume of 1,894,557. The company has a market cap of $2.78 billion, a PE ratio of 14.73, a PEG ratio of 1.50 and a beta of 1.12. Patterson Companies, Inc. has a 12 month low of $25.00 and a 12 month high of $34.53. The company has a quick ratio of 0.81, a current ratio of 1.56 and a debt-to-equity ratio of 0.43. The firm has a fifty day moving average price of $28.88 and a 200-day moving average price of $30.39.

Patterson Companies (NASDAQ:PDCOGet Free Report) last released its earnings results on Wednesday, November 29th. The company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.09). The company had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.70 billion. Patterson Companies had a return on equity of 20.91% and a net margin of 3.05%. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.63 EPS. On average, sell-side analysts expect that Patterson Companies, Inc. will post 2.38 EPS for the current year.

Patterson Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 2nd. Stockholders of record on Friday, January 19th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 3.46%. The ex-dividend date is Thursday, January 18th. Patterson Companies’s dividend payout ratio (DPR) is currently 50.49%.

About Patterson Companies

(Free Report)

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.

See Also

Want to see what other hedge funds are holding PDCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Patterson Companies, Inc. (NASDAQ:PDCOFree Report).

Institutional Ownership by Quarter for Patterson Companies (NASDAQ:PDCO)

Receive News & Ratings for Patterson Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Patterson Companies and related companies with MarketBeat.com's FREE daily email newsletter.