Mork Capital Management LLC Boosts Stake in Patterson Companies, Inc. (NASDAQ:PDCO)

Mork Capital Management LLC lifted its holdings in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 142.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 84,980 shares of the company’s stock after acquiring an additional 50,000 shares during the quarter. Patterson Companies accounts for about 1.3% of Mork Capital Management LLC’s holdings, making the stock its 17th largest position. Mork Capital Management LLC owned about 0.10% of Patterson Companies worth $1,856,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. LRI Investments LLC raised 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 purchasing an additional 843 shares during the period. Mather Group LLC. lifted its position in shares of Patterson Companies by 1,376.1% during the second quarter. Mather Group LLC. now owns 1,609 shares of the company’s stock worth $39,000 after acquiring an additional 1,500 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in shares of Patterson Companies in the second quarter worth $41,000. Family Firm Inc. purchased a new stake in Patterson Companies during the 2nd quarter worth about $45,000. Finally, Meeder Asset Management Inc. bought a new position in Patterson Companies in the 2nd quarter worth about $45,000. Hedge funds and other institutional investors own 85.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Patterson Companies from $29.00 to $26.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th. Evercore ISI decreased their price target on shares of Patterson Companies from $23.00 to $22.00 and set an “in-line” rating on the stock in a report on Tuesday, October 8th. Robert W. Baird dropped their price objective on Patterson Companies from $30.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th. UBS Group decreased their target price on Patterson Companies from $27.00 to $24.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. Finally, Bank of America cut their price objective on Patterson Companies from $31.00 to $29.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Patterson Companies has a consensus rating of “Hold” and an average target price of $27.63.

Patterson Companies Trading Down 1.3 %

Shares of PDCO opened at $21.61 on Wednesday. Patterson Companies, Inc. has a fifty-two week low of $19.45 and a fifty-two week high of $30.68. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of 11.81, a PEG ratio of 1.59 and a beta of 1.00. The firm has a 50 day moving average price of $20.97 and a 200-day moving average price of $22.83. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.67 and a current ratio of 1.30.

Patterson Companies Announces Dividend

The firm 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 annualized dividend and a yield of 4.81%. Patterson Companies’s payout ratio is 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.