Kennondale Capital Management LLC Takes Position in Premier, Inc. (NASDAQ:PINC)

Kennondale Capital Management LLC acquired a new stake in Premier, Inc. (NASDAQ:PINC) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 31,822 shares of the company’s stock, valued at approximately $675,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. State Street Corp raised its holdings in shares of Premier by 0.8% in the third quarter. State Street Corp now owns 3,973,582 shares of the company’s stock valued at $79,472,000 after purchasing an additional 32,193 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Premier by 4.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,813,408 shares of the company’s stock valued at $38,444,000 after buying an additional 71,624 shares in the last quarter. Brandes Investment Partners LP grew its stake in shares of Premier by 123.1% in the fourth quarter. Brandes Investment Partners LP now owns 842,326 shares of the company’s stock valued at $17,857,000 after buying an additional 464,710 shares in the last quarter. Empowered Funds LLC grew its stake in shares of Premier by 15.9% in the fourth quarter. Empowered Funds LLC now owns 495,985 shares of the company’s stock valued at $10,515,000 after buying an additional 67,909 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in shares of Premier by 109.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 468,524 shares of the company’s stock valued at $9,933,000 after buying an additional 245,239 shares in the last quarter. 74.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PINC has been the subject of several analyst reports. Piper Sandler decreased their target price on shares of Premier from $21.00 to $19.00 and set a “neutral” rating for the company in a research note on Wednesday, February 5th. Canaccord Genuity Group decreased their target price on shares of Premier from $21.00 to $19.00 and set a “hold” rating for the company in a research note on Wednesday, February 5th. Finally, Robert W. Baird decreased their target price on shares of Premier from $20.00 to $19.00 and set a “neutral” rating for the company in a research note on Wednesday, February 5th. Eight investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $20.17.

Insiders Place Their Bets

In other news, COO Leigh Anderson sold 20,000 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $21.88, for a total value of $437,600.00. Following the completion of the sale, the chief operating officer now owns 111,707 shares of the company’s stock, valued at approximately $2,444,149.16. The trade was a 15.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Helen M. Boudreau sold 2,500 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $21.42, for a total transaction of $53,550.00. Following the completion of the sale, the director now directly owns 20,668 shares of the company’s stock, valued at approximately $442,708.56. The trade was a 10.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,637 shares of company stock valued at $511,093 over the last ninety days. 0.96% of the stock is currently owned by company insiders.

Premier Price Performance

PINC stock opened at $18.31 on Tuesday. The company has a fifty day moving average price of $19.79 and a two-hundred day moving average price of $20.57. Premier, Inc. has a one year low of $17.23 and a one year high of $23.56. The stock has a market cap of $1.67 billion, a price-to-earnings ratio of -183.08 and a beta of 0.39.

Premier Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st were given a dividend of $0.21 per share. The ex-dividend date was Friday, February 28th. This represents a $0.84 dividend on an annualized basis and a yield of 4.59%. Premier’s dividend payout ratio (DPR) is -840.00%.

About Premier

Premier, Inc, together with its subsidiaries, operates as a healthcare improvement company in the United States. It operates in two segments, Supply Chain Services and Performance Services. The Supply Chain Services segment offers its members with an access to a range of products and services, including medical and surgical products, pharmaceuticals, laboratory supplies, capital equipment, information technology, facilities and construction, and food and nutritional products, as well as purchased services, such as clinical engineering and workforce solutions.