SummerHaven Investment Management LLC Raises Stock Position in Patterson Companies, Inc. (NASDAQ:PDCO)

SummerHaven Investment Management LLC increased its holdings in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 1.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 33,020 shares of the company’s stock after purchasing an additional 465 shares during the period. Patterson Companies accounts for about 0.7% of SummerHaven Investment Management LLC’s holdings, making the stock its 16th biggest holding. SummerHaven Investment Management LLC’s holdings in Patterson Companies were worth $1,032,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Raymond James Financial Inc. purchased a new stake in shares of Patterson Companies in the fourth quarter worth about $18,316,000. Charles Schwab Investment Management Inc. lifted its position in Patterson Companies by 15.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,799,942 shares of the company’s stock worth $55,546,000 after acquiring an additional 245,376 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in Patterson Companies in the 4th quarter worth approximately $518,000. LMG Wealth Partners LLC purchased a new position in Patterson Companies in the 4th quarter worth approximately $284,000. Finally, Vanguard Group Inc. grew its position in Patterson Companies by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 9,409,915 shares of the company’s stock valued at $290,390,000 after acquiring an additional 47,897 shares in the last quarter. 85.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Wall Street Zen began coverage on shares of Patterson Companies in a research report on Thursday, May 22nd. They set a “hold” rating on the stock. Eleven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $26.57.

Patterson Companies Price Performance

PDCO stock opened at $31.33 on Thursday. The company has a current ratio of 1.37, a quick ratio of 0.76 and a debt-to-equity ratio of 0.34. The firm has a 50 day simple moving average of $31.29 and a 200-day simple moving average of $30.37. The company has a market capitalization 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 twelve month low of $19.45 and a twelve month high of $31.79.

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.