Charles Schwab Investment Management Inc. Acquires 81,524 Shares of Patterson Companies, Inc. (NASDAQ:PDCO)

Charles Schwab Investment Management Inc. grew its holdings in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 5.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,554,566 shares of the company’s stock after buying an additional 81,524 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Patterson Companies were worth $33,952,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Equity Investment Corp bought a new stake in Patterson Companies during the 2nd quarter valued at $37,935,000. Private Management Group Inc. lifted its holdings in shares of Patterson Companies by 268.5% during 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. LSV Asset Management lifted its holdings in shares of Patterson Companies by 58.8% during 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. American Century Companies Inc. lifted its holdings in shares of Patterson Companies by 83.6% during 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. Finally, Point72 Asset Management L.P. lifted its holdings in shares of Patterson Companies by 1,574.9% during the 2nd quarter. Point72 Asset Management L.P. now owns 340,000 shares of the company’s stock valued at $8,201,000 after purchasing an additional 319,700 shares during the last quarter. Institutional investors own 85.43% of the company’s stock.

Wall Street Analyst Weigh In

PDCO has been the subject of several analyst reports. UBS Group decreased their price objective on Patterson Companies from $27.00 to $24.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Robert W. Baird reduced their target price 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 reduced their target price on Patterson Companies from $23.00 to $22.00 and set an “in-line” rating for the company in a research note on Tuesday, October 8th. JPMorgan Chase & Co. reduced their target price on Patterson Companies from $29.00 to $26.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th. Finally, Bank of America reduced their target price on Patterson Companies from $31.00 to $29.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $27.63.

Patterson Companies Stock Down 1.3 %

PDCO stock opened at $21.61 on Wednesday. The firm has a market cap of $1.90 billion, a PE ratio of 11.81, a PEG ratio of 1.59 and a beta of 1.00. 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 price is $20.97 and its 200-day moving average price is $22.83. Patterson Companies, Inc. has a one year low of $19.45 and a one year high of $30.68.

Patterson Companies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Wednesday, October 16th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 4.81%. The ex-dividend date was Friday, October 18th. Patterson Companies’s payout ratio is presently 56.83%.

Patterson Companies Company 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.