River Road Asset Management LLC Cuts Position in Patterson Companies, Inc. (NASDAQ:PDCO)

River Road Asset Management LLC lessened its holdings in Patterson Companies, Inc. (NASDAQ:PDCO) by 34.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,307,207 shares of the company’s stock after selling 681,010 shares during the quarter. River Road Asset Management LLC’s holdings in Patterson Companies were worth $40,340,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Equity Investment Corp grew its holdings in Patterson Companies by 16.6% in the fourth quarter. Equity Investment Corp now owns 2,028,964 shares of the company’s stock worth $62,614,000 after purchasing an additional 289,295 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Patterson Companies by 15.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,799,942 shares of the company’s stock worth $55,546,000 after purchasing an additional 245,376 shares during the period. Bank of New York Mellon Corp grew its holdings in Patterson Companies by 18.0% in the fourth quarter. Bank of New York Mellon Corp now owns 1,455,729 shares of the company’s stock worth $44,924,000 after purchasing an additional 222,005 shares during the period. Allianz Asset Management GmbH grew its holdings in Patterson Companies by 3.7% in the fourth quarter. Allianz Asset Management GmbH now owns 1,186,906 shares of the company’s stock worth $36,628,000 after purchasing an additional 42,689 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of Patterson Companies during the fourth quarter valued at approximately $18,316,000. Hedge funds and other institutional investors own 85.43% of the company’s stock.

Patterson Companies Stock Down 0.0 %

PDCO opened at $31.12 on Tuesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.76 and a current ratio of 1.37. Patterson Companies, Inc. has a fifty-two week low of $19.45 and a fifty-two week high of $31.79. The firm’s fifty day moving average is $30.98 and its 200 day moving average is $25.73. The stock has a market cap of $2.75 billion, a price-to-earnings ratio of 18.20, a price-to-earnings-growth ratio of 2.71 and a beta of 0.99.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Leerink Partnrs cut shares of Patterson Companies from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Mizuho assumed coverage on shares of Patterson Companies in a report on Wednesday, December 4th. They set a “neutral” rating and a $23.00 price target on the stock. Morgan Stanley increased their price target on shares of Patterson Companies from $27.00 to $31.35 and gave the company an “equal weight” rating in a report on Tuesday, December 17th. Stifel Nicolaus dropped their price target on shares of Patterson Companies from $25.00 to $24.00 and set a “hold” rating on the stock in a research note on Thursday, December 5th. Finally, StockNews.com began coverage on shares of Patterson Companies in a research note on Tuesday. They set a “hold” rating on the stock. Eleven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $26.57.

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.