Atria Investments Inc Purchases 973 Shares of Patterson Companies, Inc. (NASDAQ:PDCO)

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

A number of other hedge funds also recently added to or reduced their stakes in PDCO. LRI Investments LLC boosted its position in Patterson Companies by 201.2% during the second quarter. LRI Investments LLC now owns 1,262 shares of the company’s stock valued at $30,000 after purchasing an additional 843 shares in the last quarter. Mather Group LLC. raised its holdings in 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 purchasing an additional 1,500 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Patterson Companies during the second quarter valued at about $41,000. Family Firm Inc. bought a new stake in shares of Patterson Companies in the 2nd quarter valued at about $45,000. Finally, Meeder Asset Management Inc. purchased a new position in shares of Patterson Companies in the 2nd quarter worth approximately $45,000. 85.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Patterson Companies Trading Up 0.9 %

Shares of NASDAQ:PDCO opened at $20.46 on Friday. 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, Inc. has a 52-week low of $19.45 and a 52-week high of $32.58. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of 11.18, a PEG ratio of 1.48 and a beta of 1.02. The business has a 50-day moving average price of $21.00 and a 200-day moving average price of $23.07.

Patterson Companies (NASDAQ:PDCO) last posted its quarterly earnings results on Wednesday, August 28th. The company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.08). The business had revenue of $1.54 billion for 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 business’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.40 earnings per share. Equities analysts predict that Patterson Companies, Inc. will post 2.32 EPS for the current year.

Patterson Companies Announces Dividend

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

About Patterson Companies

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.