Hsbc Holdings PLC Raises Stock Holdings in Patterson Companies, Inc. (NASDAQ:PDCO)

Hsbc Holdings PLC raised its position in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 2,837.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 423,977 shares of the company’s stock after purchasing an additional 409,543 shares during the quarter. Hsbc Holdings PLC’s holdings in Patterson Companies were worth $13,084,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of PDCO. Raymond James Financial Inc. purchased a new position in shares of Patterson Companies during the fourth quarter worth $18,316,000. American Century Companies Inc. raised its stake in shares of Patterson Companies by 24.1% during the 4th quarter. American Century Companies Inc. now owns 2,711,030 shares of the company’s stock valued at $83,662,000 after buying an additional 527,054 shares during the last quarter. Alpine Associates Management Inc. acquired a new position in shares of Patterson Companies in the 4th quarter valued at about $10,581,000. Equity Investment Corp boosted its stake in shares of Patterson Companies by 16.6% in the fourth quarter. Equity Investment Corp now owns 2,028,964 shares of the company’s stock worth $62,614,000 after buying an additional 289,295 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Patterson Companies by 65.0% during the fourth quarter. JPMorgan Chase & Co. now owns 713,048 shares of the company’s stock worth $22,005,000 after acquiring an additional 280,893 shares during the period. 85.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on Patterson Companies in a report on Monday. They issued a “hold” rating for the company. Eleven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $26.57.

Patterson Companies Price Performance

Shares of PDCO opened at $31.33 on Monday. The firm has a market cap of $2.77 billion, a P/E ratio of 18.32, a PEG ratio of 2.71 and a beta of 0.73. Patterson Companies, Inc. has a 12 month low of $19.45 and a 12 month high of $31.79. The stock’s 50 day moving average is $31.17 and its two-hundred day moving average is $28.10. The company has a current ratio of 1.37, a quick ratio of 0.76 and a debt-to-equity ratio of 0.34.

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.