WCM Investment Management LLC Raises Stake in Cencora, Inc. (NYSE:COR)

WCM Investment Management LLC increased its stake in shares of Cencora, Inc. (NYSE:COR) by 99.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,116 shares of the company’s stock after acquiring an additional 1,053 shares during the quarter. WCM Investment Management LLC’s holdings in Cencora were worth $476,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Concord Wealth Partners bought a new position in Cencora during the third quarter valued at $30,000. Householder Group Estate & Retirement Specialist LLC boosted its position in Cencora by 85.2% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 150 shares of the company’s stock valued at $33,000 after purchasing an additional 69 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in Cencora in the third quarter worth $41,000. Modus Advisors LLC purchased a new stake in shares of Cencora during the fourth quarter worth about $54,000. Finally, Carolina Wealth Advisors LLC increased its position in shares of Cencora by 366.7% in the 3rd quarter. Carolina Wealth Advisors LLC now owns 266 shares of the company’s stock valued at $60,000 after acquiring an additional 209 shares during the period. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Insider Activity at Cencora

In other Cencora news, EVP Silvana Battaglia sold 1,678 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $228.72, for a total transaction of $383,792.16. Following the transaction, the executive vice president now directly owns 20,329 shares in the company, valued at approximately $4,649,648.88. This represents a 7.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Steven H. Collis sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $243.97, for a total value of $12,198,500.00. Following the completion of the sale, the chairman now owns 326,557 shares in the company, valued at approximately $79,670,111.29. This represents a 13.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 73,187 shares of company stock worth $17,790,912 in the last 90 days. 10.80% of the stock is owned by insiders.

Cencora Stock Down 0.7 %

Shares of Cencora stock opened at $246.25 on Tuesday. Cencora, Inc. has a 52-week low of $214.77 and a 52-week high of $262.26. The company has a 50 day moving average of $238.94 and a 200 day moving average of $236.90. The company has a quick ratio of 0.53, a current ratio of 0.92 and a debt-to-equity ratio of 16.40. The company has a market capitalization of $47.59 billion, a P/E ratio of 35.03, a P/E/G ratio of 1.49 and a beta of 0.49.

Cencora (NYSE:COR) last posted its earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share for the quarter, topping the consensus estimate of $3.50 by $0.23. Cencora had a return on equity of 328.62% and a net margin of 0.46%. As a group, research analysts forecast that Cencora, Inc. will post 15.36 EPS for the current fiscal year.

Cencora Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Friday, February 14th. Cencora’s dividend payout ratio (DPR) is 31.29%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on COR shares. Mizuho started coverage on Cencora in a research report on Wednesday, December 4th. They set an “outperform” rating and a $280.00 price target for the company. Barclays increased their target price on shares of Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. UBS Group upped their target price on Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Evercore ISI upped their price objective on Cencora from $270.00 to $280.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Cencora presently has an average rating of “Moderate Buy” and an average price target of $277.90.

Cencora Profile

Cencora, Inc sources and distributes pharmaceutical products. The company's U.S. Healthcare Solutions segment distributes pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, and related services to acute care hospitals and health systems, independent and chain retail pharmacies, mail order pharmacies, medical clinics, long-term care and alternate site pharmacies, and other customers; provides pharmacy management, staffing, and other consulting services; supply management software to retail and institutional healthcare providers; packaging solutions to various institutional and retail healthcare providers; clinical trial support, product post-approval, and commercialization support services; data analytics, outcomes research, and additional services for biotechnology and pharmaceutical manufacturers; pharmaceuticals, vaccines, parasiticides, diagnostics, micro feed ingredients, and other products to the companion animal and production animal markets; and sales force services to manufacturers.