Yousif Capital Management Increases Stake in Patterson Companies Amidst Institutional Interest
Yousif Capital boosts its stake in Patterson Companies by 7.7% in Q1, with shares valued at $1,018,000, reflecting growing institutional investor interest.
Yousif Capital Management LLC has recently increased its stake in Patterson Companies, Inc. (NASDAQ: PDCO) by 7.7% during the first quarter, as per its latest 13F filing with the Securities & Exchange Commission. This strategic move saw the firm acquiring an additional 2,325 shares, raising its total to 32,598 shares, valued at $1,018,000. This development underscores a broader trend of institutional investors adjusting their stakes in Patterson Companies.
Rhumbline Advisers also demonstrated confidence in Patterson Companies by boosting its holdings by 2.7% in the fourth quarter. Their investment now totals 262,409 shares, valued at $8,098,000, after an acquisition of 6,852 additional shares. Similarly, Principal Financial Group Inc. increased its stake by 2.9% in the same period, now holding 380,958 shares worth $11,756,000, following the purchase of 10,756 more shares.
New investments in Patterson Companies have been observed as well. CIBC Asset Management Inc, Kestra Investment Management LLC, and Ieq Capital LLC each purchased new stakes in the fourth quarter, with investments valued at approximately $256,000, $217,000, and $316,000, respectively. These moves contribute to the substantial ownership of 85.43% of the company’s stock by hedge funds and other institutional investors.
On the stock performance front, shares of Patterson Companies opened at $31.33 on Thursday. The stock's 50-day simple moving average is $31.31, while the 200-day simple moving average is $30.71. With a market capitalization of $2.77 billion, Patterson Companies maintains a price-to-earnings ratio of 18.32 and a price-to-earnings-growth ratio of 2.71. It operates with a debt-to-equity ratio of 0.34, a current ratio of 1.37, and a quick ratio of 0.76. The company's stock has experienced a 12-month low of $19.45 and a high of $31.79.
Wall Street analysts have shown interest in Patterson Companies as well. Wall Street Zen initiated coverage with a "hold" rating. Among eleven equities research analysts, the stock has a consensus "Hold" rating and an average price target of $26.57, according to MarketBeat data.
Patterson Companies, Inc. is a prominent distributor of dental and animal health products in the United States, United Kingdom, and Canada. The company operates through three segments: Dental, Animal Health, and Corporate. The Dental segment offers a range of consumable products, dental equipment, and practice optimization solutions.
For investors interested in exploring more about Patterson Companies and its stakeholders, HoldingsChannel.com provides updated 13F filings and insider trades for the company. As institutional interest continues to grow, Patterson Companies remains a notable player in the dental and animal health product distribution sector.