Invesco Ltd. Sells 33,964 Shares of Patterson Companies, Inc. (NASDAQ:PDCO)

Invesco Ltd. reduced its position in Patterson Companies, Inc. (NASDAQ:PDCO - Free Report) by 4.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 697,144 shares of the company's stock after selling 33,964 shares during the period. Invesco Ltd. owned 0.79% of Patterson Companies worth $21,514,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Raymond James Financial Inc. bought a new stake in shares of Patterson Companies during the 4th quarter valued at $18,316,000. American Century Companies Inc. grew its holdings in Patterson Companies by 24.1% during the 4th quarter. American Century Companies Inc. now owns 2,711,030 shares of the company's stock valued at $83,662,000 after buying an additional 527,054 shares in the last quarter. Alpine Associates Management Inc. bought a new stake in shares of Patterson Companies during the fourth quarter valued at about $10,581,000. Equity Investment Corp lifted its holdings in shares of 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 buying an additional 289,295 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Patterson Companies by 65.0% in the fourth quarter. JPMorgan Chase & Co. now owns 713,048 shares of the company's stock valued at $22,005,000 after acquiring an additional 280,893 shares during the period. 85.43% of the stock is owned by hedge funds and other institutional investors.

Patterson Companies Price Performance

PDCO remained flat at $31.33 during trading on Thursday. The business has a 50 day moving average of $31.16 and a 200-day moving average of $27.83. Patterson Companies, Inc. has a fifty-two week low of $19.45 and a fifty-two week high of $31.79. The company has a quick ratio of 0.76, a current ratio of 1.37 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $2.77 billion, a P/E ratio of 18.32, a P/E/G ratio of 2.71 and a beta of 0.73.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on shares of Patterson Companies in a report on Sunday. They set a "hold" rating on the stock. Eleven analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Patterson Companies currently has an average rating of "Hold" and a consensus price target 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.