Patterson Companies, Inc. (NASDAQ:PDCO) Shares Acquired by River Road Asset Management LLC

River Road Asset Management LLC boosted its stake in Patterson Companies, Inc. (NASDAQ:PDCO) by 3.6% during the third quarter, Holdings Channel.com reports. The fund owned 1,988,217 shares of the company’s stock after purchasing an additional 68,947 shares during the quarter. River Road Asset Management LLC’s holdings in Patterson Companies were worth $43,423,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. LRI Investments LLC raised its holdings in shares of 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 acquiring an additional 843 shares during the last quarter. Mather Group LLC. raised its stake in Patterson Companies by 1,376.1% in the 2nd quarter. Mather Group LLC. now owns 1,609 shares of the company’s stock valued at $39,000 after purchasing an additional 1,500 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in Patterson Companies in the 2nd quarter valued at $41,000. Family Firm Inc. acquired a new stake in Patterson Companies during the 2nd quarter worth $45,000. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Patterson Companies during the second quarter worth $45,000. Hedge funds and other institutional investors own 85.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on PDCO shares. Bank of America lowered their price target on shares of Patterson Companies from $31.00 to $29.00 and set a “buy” rating on the stock in a research report 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 on the stock in a research note on Tuesday, October 8th. UBS Group decreased their target price on shares of Patterson Companies from $27.00 to $24.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. Robert W. Baird dropped their price target on shares of Patterson Companies from $30.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Patterson Companies from $29.00 to $26.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. Nine equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $28.30.

Patterson Companies Stock Up 0.9 %

Shares of NASDAQ PDCO opened at $21.04 on Tuesday. The company has a quick ratio of 0.67, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The business’s 50 day moving average is $21.36 and its two-hundred day moving average is $23.54. Patterson Companies, Inc. has a 52-week low of $19.89 and a 52-week high of $32.58. The firm has a market cap of $1.85 billion, a price-to-earnings ratio of 11.50, a PEG ratio of 1.52 and a beta of 1.02.

Patterson Companies (NASDAQ:PDCO) last posted 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). Patterson Companies had a net margin of 2.58% and a return on equity of 19.87%. The firm had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.59 billion. During the same quarter in the prior year, the firm posted $0.40 EPS. Patterson Companies’s quarterly revenue was down 2.3% compared to the same quarter last year. Research analysts predict that Patterson Companies, Inc. will post 2.32 EPS for the current year.

Patterson Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Wednesday, October 16th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 4.94%. 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.