Kempner Capital Management Inc. Invests $2.51 Million in Patterson Companies, Inc. (NASDAQ:PDCO)

Kempner Capital Management Inc. purchased a new stake in shares of Patterson Companies, Inc. (NASDAQ:PDCO) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 115,125 shares of the company’s stock, valued at approximately $2,514,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. LRI Investments LLC raised its position 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. Mather Group LLC. increased its stake in shares of Patterson Companies by 1,376.1% in the second quarter. Mather Group LLC. now owns 1,609 shares of the company’s stock valued at $39,000 after buying an additional 1,500 shares during the period. Canada Pension Plan Investment Board bought a new position in Patterson Companies in the 2nd quarter valued at approximately $41,000. Family Firm Inc. acquired a new stake in Patterson Companies during the 2nd quarter worth approximately $45,000. Finally, Meeder Asset Management Inc. bought a new stake in Patterson Companies during the 2nd quarter worth approximately $45,000. 85.43% of the stock is currently owned by institutional investors and hedge funds.

Patterson Companies Trading Down 0.8 %

Shares of Patterson Companies stock traded down $0.18 on Tuesday, reaching $21.11. 473,854 shares of the company’s stock were exchanged, compared to its average volume of 954,188. The company has a market capitalization of $1.85 billion, a P/E ratio of 10.65, a price-to-earnings-growth ratio of 1.52 and a beta of 1.02. Patterson Companies, Inc. has a 52 week low of $19.89 and a 52 week high of $32.58. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.67 and a current ratio of 1.30. The firm’s 50-day moving average is $22.07 and its two-hundred day moving average is $23.87.

Patterson Companies (NASDAQ:PDCO) last issued its earnings results 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). Patterson Companies had a return on equity of 19.87% and a net margin of 2.58%. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same period in the prior year, the company earned $0.40 earnings per share. The firm’s revenue was down 2.3% compared to the same quarter last year. Sell-side analysts predict that Patterson Companies, Inc. will post 2.33 EPS for the current fiscal year.

Patterson Companies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Wednesday, October 16th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 4.93%. The ex-dividend date of this dividend is Friday, October 18th. Patterson Companies’s payout ratio is 52.00%.

Wall Street Analyst Weigh In

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

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.