10,891 Shares in Patterson Companies, Inc. (NASDAQ:PDCO) Acquired by Verity Asset Management Inc.

Verity Asset Management Inc. bought a new position in shares of Patterson Companies, Inc. (NASDAQ:PDCO) during the third quarter, Holdings Channel.com reports. The fund bought 10,891 shares of the company’s stock, valued at approximately $238,000.

A number of other large investors have also recently made changes to their positions in the company. Miller Howard Investments Inc. NY increased its stake in shares of Patterson Companies by 2.3% during the second quarter. Miller Howard Investments Inc. NY now owns 19,545 shares of the company’s stock worth $471,000 after buying an additional 442 shares during the period. Ariel Investments LLC increased its stake in Patterson Companies by 7.0% in the first quarter. Ariel Investments LLC now owns 8,976 shares of the company’s stock valued at $248,000 after purchasing an additional 586 shares during the last quarter. Hsbc Holdings PLC increased its stake in Patterson Companies by 6.2% in the second quarter. Hsbc Holdings PLC now owns 14,184 shares of the company’s stock valued at $341,000 after purchasing an additional 828 shares during the last quarter. LRI Investments LLC increased its stake in Patterson Companies by 201.2% in 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 during the last quarter. Finally, Bfsg LLC increased its stake in Patterson Companies by 8.2% in the third quarter. Bfsg LLC now owns 12,250 shares of the company’s stock valued at $268,000 after purchasing an additional 925 shares during the last quarter. 85.43% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on PDCO shares. UBS Group dropped their price target on shares of 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 objective on Patterson Companies from $23.00 to $22.00 and set an “in-line” rating for the company in a report on Tuesday, October 8th. 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. JPMorgan Chase & Co. decreased their price objective on Patterson Companies from $29.00 to $26.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. Finally, Robert W. Baird decreased their price objective 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 research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Patterson Companies has a consensus rating of “Hold” and a consensus price target of $28.30.

Patterson Companies Trading Down 2.6 %

NASDAQ:PDCO opened at $20.80 on Friday. The stock has a fifty day moving average price of $21.20 and a two-hundred day moving average price of $23.45. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of 11.37, a PEG ratio of 1.60 and a beta of 1.02. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.67 and a current ratio of 1.30. Patterson Companies, Inc. has a 1 year low of $19.89 and a 1 year high of $32.58.

Patterson Companies (NASDAQ:PDCO) last released its quarterly earnings data on Wednesday, August 28th. The company reported $0.24 earnings per share (EPS) 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 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 EPS. As a group, sell-side analysts anticipate that Patterson Companies, Inc. will post 2.32 earnings per share for the current fiscal year.

Patterson Companies Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 5.00%. The ex-dividend date was Friday, October 18th. Patterson Companies’s dividend payout ratio is currently 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.