Gladius Capital Management LP Raises Position in Patterson Companies, Inc. (NASDAQ:PDCO)

Gladius Capital Management LP lifted its stake in Patterson Companies, Inc. (NASDAQ:PDCO) by 277.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,079 shares of the company’s stock after purchasing an additional 8,145 shares during the quarter. Gladius Capital Management LP’s holdings in Patterson Companies were worth $242,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Equity Investment Corp purchased a new position in Patterson Companies during the second quarter worth $37,935,000. Private Management Group Inc. lifted its stake 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 worth $34,532,000 after acquiring an additional 1,043,201 shares during the last quarter. Vanguard Group Inc. grew its position in 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 acquiring an additional 730,819 shares during the last quarter. LSV Asset Management increased its stake in Patterson Companies by 58.8% in the second quarter. LSV Asset Management now owns 1,391,344 shares of the company’s stock worth $33,559,000 after purchasing an additional 515,299 shares during the period. Finally, American Century Companies Inc. increased its stake in Patterson Companies by 83.6% in the second quarter. American Century Companies Inc. now owns 902,759 shares of the company’s stock worth $21,775,000 after purchasing an additional 411,012 shares during the period. Institutional investors own 85.43% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on PDCO shares. UBS Group cut their price target 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 target price on shares of Patterson Companies from $30.00 to $28.00 and set a “neutral” rating on the stock in a research note on Thursday, August 29th. JPMorgan Chase & Co. reduced their price objective on Patterson Companies from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. Bank of America lowered their target price on Patterson Companies from $31.00 to $29.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Finally, Evercore ISI cut their price target 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. Nine equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $28.30.

Patterson Companies Stock Performance

PDCO opened at $19.75 on Friday. The company has a market cap of $1.74 billion, a P/E ratio of 10.79, a price-to-earnings-growth ratio of 1.44 and a beta of 1.02. 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 firm’s 50-day moving average price is $21.05 and its 200-day moving average price is $23.25. Patterson Companies, Inc. has a 52-week low of $19.45 and a 52-week high of $32.58.

Patterson Companies (NASDAQ:PDCO) last issued 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 for the quarter, compared to analyst estimates of $1.59 billion. During the same quarter in the previous year, the company posted $0.40 EPS. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year. As a group, equities analysts anticipate that Patterson Companies, Inc. will post 2.32 EPS for the current fiscal year.

Patterson Companies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Wednesday, October 16th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $1.04 dividend on an annualized basis and a yield of 5.27%. Patterson Companies’s dividend payout ratio is currently 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.