Intech Investment Management LLC Makes New Investment in Patterson Companies, Inc. (NASDAQ:PDCO)

Intech Investment Management LLC purchased a new position in shares of Patterson Companies, Inc. (NASDAQ:PDCO) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 24,527 shares of the company’s stock, valued at approximately $536,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PDCO. Miller Howard Investments Inc. NY raised its position in Patterson Companies by 2.3% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 19,545 shares of the company’s stock valued at $471,000 after purchasing an additional 442 shares during the last quarter. KBC Group NV increased its stake in Patterson Companies by 32.7% in the 3rd quarter. KBC Group NV now owns 2,757 shares of the company’s stock valued at $60,000 after purchasing an additional 680 shares in the last quarter. Hsbc Holdings PLC increased its stake in Patterson Companies by 6.2% in the 2nd quarter. Hsbc Holdings PLC now owns 14,184 shares of the company’s stock valued at $341,000 after purchasing an additional 828 shares in the last quarter. LRI Investments LLC raised its holdings in Patterson Companies by 201.2% during the second quarter. LRI Investments LLC now owns 1,262 shares of the company’s stock worth $30,000 after purchasing an additional 843 shares during the last quarter. Finally, Bfsg LLC boosted its position in Patterson Companies by 8.2% during the third quarter. Bfsg LLC now owns 12,250 shares of the company’s stock worth $268,000 after purchasing an additional 925 shares in the last quarter. 85.43% of the stock is currently owned by institutional investors and hedge funds.

Patterson Companies Trading Up 0.1 %

Patterson Companies stock opened at $21.49 on Monday. The company has a quick ratio of 0.67, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $1.89 billion, a price-to-earnings ratio of 11.74, a PEG ratio of 1.56 and a beta of 1.02. The firm has a 50-day moving average price of $20.96 and a two-hundred day moving average price of $22.88. Patterson Companies, Inc. has a 52-week low of $19.45 and a 52-week high of $30.68.

Patterson Companies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Wednesday, October 16th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 4.84%. The ex-dividend date was Friday, October 18th. Patterson Companies’s dividend payout ratio (DPR) is currently 56.83%.

Analysts Set New Price Targets

A number of brokerages have issued reports on PDCO. Robert W. Baird cut their target price on shares of Patterson Companies from $30.00 to $28.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. UBS Group cut their price target on shares of Patterson Companies from $27.00 to $24.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. JPMorgan Chase & Co. lowered their price target on shares of Patterson Companies from $29.00 to $26.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. Bank of America lowered their price objective on Patterson Companies from $31.00 to $29.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Finally, Evercore ISI reduced their price objective on shares of Patterson Companies from $23.00 to $22.00 and set an “in-line” rating on the stock in a research note on Tuesday, October 8th. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $27.63.

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.