South Dakota Investment Council Reduces Stock Position in Patterson Companies, Inc. (NASDAQ:PDCO)

South Dakota Investment Council lessened its holdings in Patterson Companies, Inc. (NASDAQ:PDCO) by 6.6% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 137,393 shares of the company’s stock after selling 9,707 shares during the quarter. South Dakota Investment Council owned approximately 0.14% of Patterson Companies worth $3,146,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in PDCO. Dimensional Fund Advisors LP grew its stake in Patterson Companies by 36.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,085,525 shares of the company’s stock valued at $60,662,000 after acquiring an additional 822,221 shares during the period. Geode Capital Management LLC increased its position in shares of Patterson Companies by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 1,176,592 shares of the company’s stock valued at $23,130,000 after buying an additional 15,646 shares during the period. Robeco Institutional Asset Management B.V. increased its position in shares of Patterson Companies by 45.7% during the first quarter. Robeco Institutional Asset Management B.V. now owns 333,843 shares of the company’s stock valued at $7,295,000 after buying an additional 104,773 shares during the period. Texas Permanent School Fund raised its stake in Patterson Companies by 3.8% in the first quarter. Texas Permanent School Fund now owns 56,091 shares of the company’s stock worth $1,226,000 after buying an additional 2,032 shares in the last quarter. Finally, Boston Partners grew its holdings in shares of Patterson Companies by 2.1% during the 1st quarter. Boston Partners now owns 716,777 shares of the company’s stock worth $15,661,000 after acquiring an additional 14,417 shares during the period. Institutional investors and hedge funds own 95.50% of the company’s stock.

A number of analysts have recently issued reports on PDCO shares. Zacks Investment Research raised shares of Patterson Companies from a “sell” rating to a “hold” rating and set a $23.00 price target on the stock in a report on Monday, June 10th. Goldman Sachs Group set a $15.00 price objective on Patterson Companies and gave the company a “sell” rating in a research report on Friday, August 30th. UBS Group dropped their target price on shares of Patterson Companies from $23.00 to $16.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. Wolfe Research set a $17.00 price target on shares of Patterson Companies and gave the company a “sell” rating in a report on Friday, August 30th. Finally, ValuEngine downgraded shares of Patterson Companies from a “hold” rating to a “sell” rating in a report on Friday, July 19th. Six investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Patterson Companies currently has a consensus rating of “Sell” and an average target price of $18.63.

PDCO stock traded up $0.22 during midday trading on Wednesday, reaching $18.19. The company’s stock had a trading volume of 393,792 shares, compared to its average volume of 1,176,626. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of 12.99, a PEG ratio of 1.88 and a beta of 1.33. Patterson Companies, Inc. has a 1 year low of $15.73 and a 1 year high of $26.60. The stock has a fifty day simple moving average of $17.76 and a two-hundred day simple moving average of $21.03. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.88 and a current ratio of 1.81.

Patterson Companies (NASDAQ:PDCO) last issued its earnings results on Thursday, August 29th. The company reported $0.27 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.02. The business had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.36 billion. Patterson Companies had a return on equity of 8.95% and a net margin of 2.12%. Patterson Companies’s revenue was down .6% on a year-over-year basis. During the same period in the previous year, the company posted $0.26 EPS. As a group, analysts forecast that Patterson Companies, Inc. will post 1.38 EPS for the current fiscal year.

Patterson Companies Profile

Patterson Companies, Inc distributes and sells dental and animal health products in the United States, the United Kingdom, and Canada. It operates through Dental and Animal Health segments. The company's Dental segment offers consumable products, such as infection control, restorative materials, hand instruments, and sterilization products; basic and advanced technology dental equipment; patient education systems; and office forms and stationery.

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Institutional Ownership by Quarter for Patterson Companies (NASDAQ:PDCO)

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