Atria Investments Inc Raises Stock Position in Patterson Companies, Inc. (NASDAQ:PDCO)

Atria Investments Inc grew its holdings in Patterson Companies, Inc. (NASDAQ:PDCO) by 10.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,115 shares of the company’s stock after acquiring an additional 973 shares during the period. Atria Investments Inc’s holdings in Patterson Companies were worth $221,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. LRI Investments LLC lifted its holdings in 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 purchasing an additional 843 shares in the last quarter. Mather Group LLC. lifted its holdings in shares of Patterson Companies by 1,376.1% in the second quarter. Mather Group LLC. now owns 1,609 shares of the company’s stock worth $39,000 after buying an additional 1,500 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in shares of Patterson Companies during the second quarter worth $41,000. Family Firm Inc. purchased a new position in Patterson Companies during the second quarter valued at $45,000. Finally, Meeder Asset Management Inc. bought a new stake in Patterson Companies in the 2nd quarter valued at $45,000. Institutional investors own 85.43% of the company’s stock.

Analyst Ratings Changes

PDCO has been the subject of a number of research analyst reports. Evercore ISI cut their price objective on Patterson Companies from $23.00 to $22.00 and set an “in-line” rating for the company in a research report on Tuesday, October 8th. Bank of America cut their price target on Patterson Companies from $31.00 to $29.00 and set a “buy” rating for the company in a report on Thursday, August 29th. JPMorgan Chase & Co. decreased their price objective on Patterson Companies from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. UBS Group cut their target price on shares of Patterson Companies from $27.00 to $24.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Finally, Robert W. Baird decreased their price target on shares of Patterson Companies from $30.00 to $28.00 and set a “neutral” rating on the stock in a research note on Thursday, August 29th. Nine equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $28.30.

Patterson Companies Stock Performance

Patterson Companies stock opened at $20.46 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 0.67. The firm has a market capitalization of $1.80 billion, a P/E ratio of 11.18, a price-to-earnings-growth ratio of 1.48 and a beta of 1.02. Patterson Companies, Inc. has a 1-year low of $19.45 and a 1-year high of $32.58. The company’s 50-day moving average is $21.00 and its 200 day moving average is $23.07.

Patterson Companies (NASDAQ:PDCO) last issued its quarterly earnings results on Wednesday, August 28th. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.08). The business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.59 billion. Patterson Companies had a return on equity of 19.87% and a net margin of 2.58%. The company’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 earnings per share. Research analysts forecast that Patterson Companies, Inc. will post 2.32 EPS for the current year.

Patterson Companies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Wednesday, October 16th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 5.08%. The ex-dividend date was Friday, October 18th. Patterson Companies’s payout ratio is presently 56.83%.

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.