Patterson Companies, Inc. (NASDAQ:PDCO) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its holdings in Patterson Companies, Inc. (NASDAQ:PDCO) by 3.9% during the 3rd quarter, Holdings Channel.com reports. The fund owned 383,949 shares of the company’s stock after purchasing an additional 14,356 shares during the quarter. Victory Capital Management Inc.’s holdings in Patterson Companies were worth $8,385,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Chartwell Investment Partners LLC boosted its position in shares of Patterson Companies by 32.9% in the third quarter. Chartwell Investment Partners LLC now owns 359,681 shares of the company’s stock worth $7,856,000 after buying an additional 88,968 shares during the period. Atria Investments Inc increased its stake in shares of Patterson Companies by 10.6% in the third quarter. Atria Investments Inc now owns 10,115 shares of the company’s stock worth $221,000 after purchasing an additional 973 shares during the period. Verity Asset Management Inc. acquired a new position in shares of Patterson Companies during the 3rd quarter worth about $238,000. Keynote Financial Services LLC bought a new stake in shares of Patterson Companies in the third quarter valued at approximately $418,000. Finally, River Road Asset Management LLC increased its position in shares of Patterson Companies by 3.6% during the third quarter. River Road Asset Management LLC now owns 1,988,217 shares of the company’s stock valued at $43,423,000 after purchasing an additional 68,947 shares during the period. 85.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. lowered their target price on Patterson Companies from $29.00 to $26.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th. Bank of America cut their target price on shares of Patterson Companies from $31.00 to $29.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Robert W. Baird reduced their price target on Patterson Companies from $30.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th. UBS Group cut their price objective on shares of Patterson Companies from $27.00 to $24.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. Finally, Evercore ISI decreased their price target on 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. Nine equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $28.30.

Patterson Companies Price Performance

Shares of PDCO opened at $20.28 on Friday. The business has a 50-day simple moving average of $21.04 and a two-hundred day simple moving average of $23.13. Patterson Companies, Inc. has a 12-month low of $19.45 and a 12-month high of $32.58. The stock has a market cap of $1.79 billion, a PE ratio of 11.14, a PEG ratio of 1.49 and a beta of 1.02. The company has a quick ratio of 0.67, a current ratio of 1.30 and a debt-to-equity ratio of 0.34.

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

Patterson Companies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Wednesday, October 16th were issued a dividend of $0.26 per share. The ex-dividend date was Friday, October 18th. This represents a $1.04 annualized dividend and a yield of 5.13%. Patterson Companies’s payout ratio is 56.83%.

Patterson Companies 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.