Hotchkis & Wiley Capital Management LLC Invests $11.18 Million in Patterson Companies, Inc. (NASDAQ:PDCO)

Hotchkis & Wiley Capital Management LLC acquired a new position in shares of Patterson Companies, Inc. (NASDAQ:PDCO) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 512,040 shares of the company’s stock, valued at approximately $11,183,000. Hotchkis & Wiley Capital Management LLC owned approximately 0.58% of Patterson Companies as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Equity Investment Corp lifted its stake in Patterson Companies by 10.6% during the third quarter. Equity Investment Corp now owns 1,739,669 shares of the company’s stock worth $37,994,000 after purchasing an additional 166,899 shares during the last quarter. Seven Eight Capital LP lifted its stake in Patterson Companies by 177.7% during the second quarter. Seven Eight Capital LP now owns 73,504 shares of the company’s stock worth $1,773,000 after purchasing an additional 47,032 shares during the last quarter. Goodman Financial Corp lifted its stake in Patterson Companies by 19.1% during the third quarter. Goodman Financial Corp now owns 543,282 shares of the company’s stock worth $11,865,000 after purchasing an additional 86,972 shares during the last quarter. Squarepoint Ops LLC lifted its stake in Patterson Companies by 191.2% during the second quarter. Squarepoint Ops LLC now owns 186,595 shares of the company’s stock worth $4,501,000 after purchasing an additional 122,511 shares during the last quarter. Finally, Private Management Group Inc. lifted its stake in Patterson Companies by 268.5% during the second quarter. Private Management Group Inc. now owns 1,431,666 shares of the company’s stock worth $34,532,000 after purchasing an additional 1,043,201 shares during the last quarter. 85.43% of the stock is owned by institutional investors and hedge funds.

Patterson Companies Trading Down 1.3 %

Shares of PDCO stock opened at $21.61 on Wednesday. The business’s fifty day moving average price is $20.97 and its 200 day moving average price is $22.83. Patterson Companies, Inc. has a 1-year low of $19.45 and a 1-year high of $30.68. The firm has a market capitalization of $1.90 billion, a PE ratio of 11.81, a P/E/G 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 Dividend Announcement

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

Analyst Upgrades and Downgrades

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