Exchange Traded Concepts LLC Raises Holdings in Patterson Companies, Inc. (NASDAQ:PDCO)

Exchange Traded Concepts LLC lifted its holdings in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 44.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,244 shares of the company’s stock after buying an additional 10,773 shares during the period. Exchange Traded Concepts LLC’s holdings in Patterson Companies were worth $770,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. LRI Investments LLC grew its holdings in shares of Patterson Companies by 201.2% in the 2nd quarter. LRI Investments LLC now owns 1,262 shares of the company’s stock worth $30,000 after acquiring an additional 843 shares during the period. Mather Group LLC. grew its holdings in shares of Patterson Companies by 1,376.1% in the 2nd quarter. Mather Group LLC. now owns 1,609 shares of the company’s stock worth $39,000 after acquiring an additional 1,500 shares during the period. Canada Pension Plan Investment Board acquired a new stake in shares of Patterson Companies in the 2nd quarter worth approximately $41,000. Family Firm Inc. acquired a new stake in shares of Patterson Companies in the 2nd quarter worth approximately $45,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Patterson Companies in the 2nd quarter worth approximately $45,000. Institutional investors and hedge funds own 85.43% of the company’s stock.

Patterson Companies Trading Up 1.1 %

Shares of PDCO opened at $21.34 on Friday. 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 firm has a market capitalization of $1.88 billion, a P/E ratio of 11.66, a price-to-earnings-growth ratio of 1.52 and a beta of 1.02. The stock’s fifty day simple moving average is $22.13 and its 200 day simple moving average is $23.94. Patterson Companies, Inc. has a twelve month low of $19.89 and a twelve month high of $32.58.

Patterson Companies (NASDAQ:PDCO) last released its quarterly earnings data on Wednesday, August 28th. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.08). Patterson Companies had a net margin of 2.58% and a return on equity of 19.87%. The company had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.59 billion. During the same period last year, the business earned $0.40 earnings per share. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year. On average, equities research analysts forecast that Patterson Companies, Inc. will post 2.33 earnings per share for the current year.

Patterson Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Wednesday, October 16th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 4.87%. The ex-dividend date is Friday, October 18th. Patterson Companies’s dividend payout ratio (DPR) is presently 56.83%.

Analysts Set New Price Targets

A number of research firms recently weighed in on PDCO. JPMorgan Chase & Co. lowered their price target on Patterson Companies from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. Robert W. Baird lowered their target price on Patterson Companies from $30.00 to $28.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. UBS Group lowered their target price on Patterson Companies from $27.00 to $24.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. Bank of America lowered their target price on Patterson Companies from $31.00 to $29.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Finally, Evercore ISI lowered their target price on Patterson Companies from $23.00 to $22.00 and set an “in-line” rating on the stock in a report on Tuesday, October 8th. Nine investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Patterson Companies presently has an average rating of “Hold” and a consensus 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.