Rowland & Co. Investment Counsel ADV purchased a new stake in shares of Patterson Companies, Inc. (NASDAQ:PDCO) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 20,640 shares of the company’s stock, valued at approximately $750,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Amica Retiree Medical Trust increased its holdings in shares of Patterson Companies by 433.8% in the third quarter. Amica Retiree Medical Trust now owns 2,989 shares of the company’s stock worth $116,000 after buying an additional 2,429 shares during the period. Advisory Services Network LLC increased its holdings in shares of Patterson Companies by 423.4% in the second quarter. Advisory Services Network LLC now owns 2,523 shares of the company’s stock worth $118,000 after buying an additional 2,041 shares during the period. Commonwealth Bank of Australia increased its holdings in shares of Patterson Companies by 15.9% in the second quarter. Commonwealth Bank of Australia now owns 3,027 shares of the company’s stock worth $140,000 after buying an additional 415 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Patterson Companies by 4.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,576 shares of the company’s stock worth $168,000 after buying an additional 150 shares during the period. Finally, Sciencast Management LP purchased a new position in shares of Patterson Companies in the second quarter worth about $205,000. Institutional investors and hedge funds own 93.99% of the company’s stock.
Patterson Companies, Inc. (PDCO) traded up $0.09 during midday trading on Thursday, hitting $36.67. The company had a trading volume of 1,648,328 shares, compared to its average volume of 1,482,782. The company has a quick ratio of 1.10, a current ratio of 1.94 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $3,500.00, a PE ratio of 21.57, a PEG ratio of 2.13 and a beta of 0.95. Patterson Companies, Inc. has a 12 month low of $32.07 and a 12 month high of $48.29.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 26th. Investors of record on Friday, January 12th will be paid a $0.26 dividend. The ex-dividend date is Thursday, January 11th. This represents a $1.04 annualized dividend and a dividend yield of 2.84%. Patterson Companies’s payout ratio is presently 61.18%.
PDCO has been the topic of several analyst reports. Royal Bank of Canada initiated coverage on Patterson Companies in a report on Tuesday, September 19th. They issued a “sector perform” rating and a $42.00 price objective on the stock. Morgan Stanley initiated coverage on Patterson Companies in a report on Thursday, September 21st. They issued an “equal weight” rating and a $42.00 price objective on the stock. Robert W. Baird reiterated a “buy” rating and issued a $44.00 price objective on shares of Patterson Companies in a report on Tuesday, September 26th. Piper Jaffray Companies initiated coverage on Patterson Companies in a report on Thursday, October 19th. They issued a “neutral” rating and a $41.00 price objective on the stock. Finally, Zacks Investment Research upgraded Patterson Companies from a “sell” rating to a “hold” rating in a report on Monday, October 23rd. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $40.23.
In other Patterson Companies news, Director John D. Buck bought 2,834 shares of the business’s stock in a transaction that occurred on Friday, November 24th. The shares were bought at an average cost of $34.93 per share, with a total value of $98,991.62. Following the completion of the purchase, the director now directly owns 54,627 shares of the company’s stock, valued at $1,908,121.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.46% of the stock is owned by company insiders.
COPYRIGHT VIOLATION WARNING: This report was first reported by Community Financial News and is the sole property of of Community Financial News. If you are reading this report on another publication, it was illegally copied and reposted in violation of United States and international copyright laws. The original version of this report can be viewed at https://www.com-unik.info/2018/01/11/rowland-co-investment-counsel-adv-takes-750000-position-in-patterson-companies-inc-pdco.html.
Patterson Companies Profile
Patterson Companies, Inc is a value-added distributor focused on providing a customer experience to professionals in the dental and animal health markets. The Company operates through three segments: dental, animal health and corporate. Dental and Animal health are strategic business units that offer similar products and services to different customer bases.
Want to see what other hedge funds are holding PDCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Patterson Companies, Inc. (NASDAQ:PDCO).
Receive News & Ratings for Patterson Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Patterson Companies and related companies with MarketBeat.com's FREE daily email newsletter.