Nicholas Hoffman & Company LLC. Boosts Position in Patterson Companies, Inc. (NASDAQ:PDCO)

Nicholas Hoffman & Company LLC. lifted its stake in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 55.3% during the 3rd quarter, Holdings Channel reports. The fund owned 21,593 shares of the company’s stock after buying an additional 7,688 shares during the quarter. Nicholas Hoffman & Company LLC.’s holdings in Patterson Companies were worth $472,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PDCO. LRI Investments LLC raised its holdings in Patterson Companies by 201.2% in the 2nd quarter. LRI Investments LLC now owns 1,262 shares of the company’s stock valued at $30,000 after buying an additional 843 shares during the period. Mather Group LLC. increased its stake in Patterson Companies by 1,376.1% during 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 during the period. Canada Pension Plan Investment Board purchased a new stake in Patterson Companies during the second quarter worth about $41,000. Family Firm Inc. purchased a new stake in Patterson Companies during the second quarter worth about $45,000. Finally, Meeder Asset Management Inc. purchased a new stake in Patterson Companies during the second quarter worth about $45,000. 85.43% of the stock is currently owned by hedge funds and other institutional investors.

Patterson Companies Price Performance

Shares of NASDAQ PDCO opened at $21.26 on Thursday. The company has a current ratio of 1.30, a quick ratio of 0.67 and a debt-to-equity ratio of 0.34. Patterson Companies, Inc. has a twelve month low of $19.89 and a twelve month high of $32.58. The stock has a 50 day moving average of $21.59 and a two-hundred day moving average of $23.65. The stock has a market cap of $1.87 billion, a P/E ratio of 11.62, a P/E/G ratio of 1.53 and a beta of 1.02.

Patterson Companies (NASDAQ:PDCO) last issued its quarterly earnings data on Wednesday, August 28th. The company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates 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. On average, research analysts forecast that Patterson Companies, Inc. will post 2.32 earnings per share for the current year.

Patterson Companies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Wednesday, October 16th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 4.89%. The ex-dividend date of this dividend is Friday, October 18th. Patterson Companies’s dividend payout ratio (DPR) is presently 56.83%.

Analyst Ratings Changes

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

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.