Nicholas Hoffman & Company LLC. Purchases 7,688 Shares of Patterson Companies, Inc. (NASDAQ:PDCO)

Nicholas Hoffman & Company LLC. grew its position in Patterson Companies, Inc. (NASDAQ:PDCO) by 55.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 21,593 shares of the company’s stock after buying an additional 7,688 shares during the period. Nicholas Hoffman & Company LLC.’s holdings in Patterson Companies were worth $472,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of PDCO. Equity Investment Corp bought a new stake in shares of Patterson Companies in the 2nd quarter valued at about $37,935,000. Private Management Group Inc. raised its position in shares of Patterson Companies by 268.5% in the 2nd quarter. Private Management Group Inc. now owns 1,431,666 shares of the company’s stock valued at $34,532,000 after purchasing an additional 1,043,201 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Patterson Companies by 7.9% in the 1st quarter. Vanguard Group Inc. now owns 10,018,184 shares of the company’s stock valued at $277,003,000 after purchasing an additional 730,819 shares during the last quarter. LSV Asset Management raised its position in shares of Patterson Companies by 58.8% in the 2nd quarter. LSV Asset Management now owns 1,391,344 shares of the company’s stock valued at $33,559,000 after purchasing an additional 515,299 shares during the last quarter. Finally, American Century Companies Inc. raised its position in shares of Patterson Companies by 83.6% in the 2nd quarter. American Century Companies Inc. now owns 902,759 shares of the company’s stock valued at $21,775,000 after purchasing an additional 411,012 shares during the last quarter. 85.43% of the stock is currently owned by institutional investors.

Patterson Companies Price Performance

Patterson Companies stock opened at $21.26 on Thursday. The company’s fifty day moving average price is $21.59 and its 200 day moving average price is $23.65. Patterson Companies, Inc. has a 1 year low of $19.89 and a 1 year high of $32.58. The stock has a market capitalization 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. 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 (NASDAQ:PDCO) last released its quarterly earnings results on Wednesday, August 28th. The company reported $0.24 earnings per share (EPS) 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 company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same period in the prior year, the business posted $0.40 EPS. Patterson Companies’s revenue was down 2.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Patterson Companies, Inc. will post 2.32 earnings per share for the current fiscal year.

Patterson Companies Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Bank of America decreased their price objective on shares of Patterson Companies from $31.00 to $29.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Robert W. Baird decreased their price objective on shares of Patterson Companies from $30.00 to $28.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. Evercore ISI reduced their price target on shares of 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. UBS Group reduced 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 report on Thursday, September 5th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Patterson Companies from $29.00 to $26.00 and set a “neutral” 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. According to MarketBeat.com, Patterson Companies currently has a consensus rating of “Hold” and a consensus target price 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.