Russell Investments Group Ltd. raised its stake in Patterson Companies, Inc. (NASDAQ:PDCO) by 2.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 277,843 shares of the company’s stock after purchasing an additional 6,078 shares during the quarter. Russell Investments Group Ltd. owned about 0.29% of Patterson Companies worth $6,792,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Cubic Asset Management LLC boosted its stake in Patterson Companies by 70.7% during the 3rd quarter. Cubic Asset Management LLC now owns 44,665 shares of the company’s stock valued at $1,092,000 after purchasing an additional 18,500 shares during the period. Palo Capital Inc. bought a new stake in shares of Patterson Companies in the 3rd quarter worth approximately $377,000. Confluence Investment Management LLC raised its holdings in shares of Patterson Companies by 1.9% during the third quarter. Confluence Investment Management LLC now owns 505,341 shares of the company’s stock valued at $12,355,000 after acquiring an additional 9,324 shares during the period. AMG National Trust Bank raised its holdings in shares of Patterson Companies by 5.1% during the third quarter. AMG National Trust Bank now owns 151,344 shares of the company’s stock valued at $3,700,000 after acquiring an additional 7,302 shares during the period. Finally, Perkins Capital Management Inc. raised its holdings in shares of Patterson Companies by 32.0% during the third quarter. Perkins Capital Management Inc. now owns 15,475 shares of the company’s stock valued at $378,000 after acquiring an additional 3,750 shares during the period.

PDCO stock opened at $24.87 on Wednesday. The stock has a market capitalization of $2.44 billion, a P/E ratio of 17.13, a P/E/G ratio of 3.54 and a beta of 1.01. Patterson Companies, Inc. has a 52 week low of $20.22 and a 52 week high of $38.52. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.79 and a quick ratio of 0.87.

Patterson Companies (NASDAQ:PDCO) last issued its earnings results on Thursday, August 30th. The company reported $0.26 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.08). The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.30 billion. Patterson Companies had a return on equity of 9.71% and a net margin of 3.01%. The firm’s revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.44 EPS. On average, sell-side analysts predict that Patterson Companies, Inc. will post 1.42 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, October 26th. Investors of record on Friday, October 12th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 4.18%. The ex-dividend date was Thursday, October 11th. Patterson Companies’s payout ratio is presently 61.90%.

A number of brokerages recently commented on PDCO. Zacks Investment Research reaffirmed a “hold” rating on shares of Patterson Companies in a research report on Wednesday, November 14th. ValuEngine upgraded shares of Patterson Companies from a “sell” rating to a “hold” rating in a research note on Monday, November 12th. BidaskClub upgraded shares of Patterson Companies from a “hold” rating to a “buy” rating in a research note on Saturday, November 10th. Goldman Sachs Group started coverage on shares of Patterson Companies in a research note on Friday, October 19th. They set a “sell” rating and a $19.00 target price for the company. Finally, Morgan Stanley dropped their price objective on shares of Patterson Companies from $21.00 to $19.00 and set an “underweight” rating for the company in a research note on Friday, August 31st. Six equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $25.68.

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About Patterson Companies

Patterson Companies, Inc distributes and sells dental and animal health products in the United States, the United Kingdom, and Canada. It operates through Dental and Animal Health segments. The company's Dental segment offers consumable products, such as infection control, restorative materials, hand instruments, and sterilization products; basic and advanced technology dental equipment; patient education systems; and office forms and stationery.

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Institutional Ownership by Quarter for Patterson Companies (NASDAQ:PDCO)

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