Hotchkis & Wiley Capital Management LLC Takes Position in Patterson Companies, Inc. (NASDAQ:PDCO)

Hotchkis & Wiley Capital Management LLC acquired a new stake in Patterson Companies, Inc. (NASDAQ:PDCO) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 512,040 shares of the company’s stock, valued at approximately $11,183,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Miller Howard Investments Inc. NY lifted its position in shares of Patterson Companies by 2.3% in the second quarter. Miller Howard Investments Inc. NY now owns 19,545 shares of the company’s stock valued at $471,000 after acquiring an additional 442 shares in the last quarter. KBC Group NV lifted its position in shares of Patterson Companies by 32.7% in the third quarter. KBC Group NV now owns 2,757 shares of the company’s stock valued at $60,000 after acquiring an additional 680 shares in the last quarter. Hsbc Holdings PLC lifted its position in shares of Patterson Companies by 6.2% in the second quarter. Hsbc Holdings PLC now owns 14,184 shares of the company’s stock valued at $341,000 after acquiring an additional 828 shares in the last quarter. LRI Investments LLC lifted its position in shares of Patterson Companies by 201.2% in the second quarter. LRI Investments LLC now owns 1,262 shares of the company’s stock valued at $30,000 after acquiring an additional 843 shares in the last quarter. Finally, Bfsg LLC lifted its position in Patterson Companies by 8.2% during the third quarter. Bfsg LLC now owns 12,250 shares of the company’s stock worth $268,000 after buying an additional 925 shares during the period. 85.43% of the stock is currently owned by hedge funds and other institutional investors.

Patterson Companies Stock Performance

Patterson Companies stock opened at $21.61 on Wednesday. The stock’s 50-day moving average is $20.97 and its 200-day moving average is $22.83. The company has a market cap of $1.90 billion, a price-to-earnings ratio of 11.81, a price-to-earnings-growth ratio of 1.59 and a beta of 1.00. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 0.67. Patterson Companies, Inc. has a 12 month low of $19.45 and a 12 month high of $30.68.

Patterson Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Wednesday, October 16th were issued a $0.26 dividend. The ex-dividend date was Friday, October 18th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.81%. Patterson Companies’s dividend payout ratio (DPR) is 56.83%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Robert W. Baird reduced their target price on Patterson Companies from $30.00 to $28.00 and set a “neutral” rating on the stock in a research report 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 on the stock in a research report 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 on the stock in a research report on Thursday, August 29th. Bank of America reduced their target price on Patterson Companies from $31.00 to $29.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Finally, UBS Group reduced their target price on Patterson Companies from $27.00 to $24.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. Seven 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, Patterson Companies currently has an average rating of “Hold” and a consensus price target of $27.63.

Patterson Companies 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.