Mork Capital Management LLC Raises Stock Holdings in Patterson Companies, Inc. (NASDAQ:PDCO)

Mork Capital Management LLC raised its position in shares of Patterson Companies, Inc. (NASDAQ:PDCO) by 142.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 84,980 shares of the company’s stock after purchasing 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 biggest holding. Mork Capital Management LLC’s holdings in Patterson Companies were worth $1,856,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its position in Patterson Companies by 5.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 51,136 shares of the company’s stock valued at $1,414,000 after buying an additional 2,630 shares during the period. Mather Group LLC. boosted its position in Patterson Companies by 1,376.1% in the second quarter. Mather Group LLC. now owns 1,609 shares of the company’s stock worth $39,000 after purchasing an additional 1,500 shares during the last quarter. CWM LLC grew its position in Patterson Companies by 655.0% during the second quarter. CWM LLC now owns 4,492 shares of the company’s stock valued at $108,000 after buying an additional 3,897 shares during the period. SG Americas Securities LLC increased its stake in shares of Patterson Companies by 70.4% in the 2nd quarter. SG Americas Securities LLC now owns 15,420 shares of the company’s stock worth $372,000 after purchasing an additional 6,370 shares in the last quarter. Finally, Sound Income Strategies LLC raised its stake in shares of Patterson Companies by 7.8% in the second quarter. Sound Income Strategies LLC now owns 667,873 shares of the company’s stock worth $16,109,000 after buying an additional 48,344 shares during the period. Institutional investors own 85.43% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Patterson Companies Price Performance

NASDAQ:PDCO opened at $21.61 on Wednesday. Patterson Companies, Inc. has a one year low of $19.45 and a one year high of $30.68. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.67 and a current ratio of 1.30. 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’s fifty day moving average is $20.97 and its two-hundred day moving average is $22.83.

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 paid a dividend of $0.26 per share. 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 payout ratio is 56.83%.

About Patterson Companies

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.