South Dakota Investment Council purchased a new position in Patterson Companies, Inc. (NASDAQ:PDCO) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 38,500 shares of the company’s stock, valued at approximately $1,488,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Patterson Companies by 0.6% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,625,632 shares of the company’s stock valued at $62,831,000 after acquiring an additional 9,343 shares in the last quarter. Shapiro Capital Management LLC grew its stake in shares of Patterson Companies by 7.4% in the second quarter. Shapiro Capital Management LLC now owns 1,539,410 shares of the company’s stock worth $72,275,000 after purchasing an additional 105,950 shares in the last quarter. Gamco Investors INC. ET AL grew its stake in shares of Patterson Companies by 11.4% in the third quarter. Gamco Investors INC. ET AL now owns 1,421,850 shares of the company’s stock worth $54,955,000 after purchasing an additional 145,668 shares in the last quarter. FMR LLC boosted its stake in Patterson Companies by 5.7% during the second quarter. FMR LLC now owns 1,400,718 shares of the company’s stock valued at $65,763,000 after buying an additional 75,354 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Patterson Companies by 6.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,077,397 shares of the company’s stock valued at $50,586,000 after buying an additional 64,073 shares in the last quarter. Hedge funds and other institutional investors own 93.36% of the company’s stock.
Several equities research analysts have recently commented on the company. Zacks Investment Research raised Patterson Companies from a “sell” rating to a “hold” rating in a report on Monday, October 23rd. Piper Jaffray Companies started coverage on Patterson Companies in a research note on Thursday, October 19th. They set a “neutral” rating and a $41.00 price target for the company. Robert W. Baird reissued a “buy” rating and set a $44.00 price objective on shares of Patterson Companies in a report on Tuesday, September 26th. Royal Bank Of Canada started coverage on Patterson Companies in a report on Tuesday, September 19th. They issued a “sector perform” rating and a $42.00 target price on the stock. Finally, Stifel Nicolaus lowered their target price on Patterson Companies from $39.00 to $34.00 and set a “sell” rating on the stock in a report on Tuesday, August 15th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $41.20.
Shares of Patterson Companies, Inc. (NASDAQ:PDCO) opened at $36.32 on Wednesday. The company has a market capitalization of $3,572.44, a price-to-earnings ratio of 16.80, a PEG ratio of 2.13 and a beta of 0.95. Patterson Companies, Inc. has a 52 week low of $32.07 and a 52 week high of $48.29. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.94 and a quick ratio of 1.10.
Patterson Companies (NASDAQ:PDCO) last released its earnings results on Tuesday, November 21st. The company reported $0.51 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.03). Patterson Companies had a net margin of 2.84% and a return on equity of 15.19%. The firm had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same period last year, the business posted $0.56 earnings per share. The firm’s quarterly revenue was down 2.3% on a year-over-year basis. sell-side analysts predict that Patterson Companies, Inc. will post 2.06 earnings per share for the current fiscal year.
About Patterson Companies
Patterson Companies, Inc is a value-added distributor focused on providing a customer experience to professionals in the dental and animal health markets. The Company operates through three segments: dental, animal health and corporate. Dental and Animal health are strategic business units that offer similar products and services to different customer bases.
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