Assetmark Inc. Increases Stock Position in Cencora, Inc. (NYSE:COR)

Assetmark Inc. lifted its holdings in shares of Cencora, Inc. (NYSE:COR) by 1,165.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,097 shares of the company’s stock after purchasing an additional 29,561 shares during the period. Assetmark Inc.’s holdings in Cencora were worth $7,212,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of COR. Swedbank AB raised its holdings in shares of Cencora by 2.3% in the third quarter. Swedbank AB now owns 1,394,449 shares of the company’s stock worth $313,863,000 after acquiring an additional 31,104 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new stake in Cencora during the 3rd quarter worth about $62,000. Catalina Capital Group LLC acquired a new position in Cencora in the 3rd quarter valued at about $215,000. Concurrent Investment Advisors LLC lifted its holdings in Cencora by 12.1% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 7,697 shares of the company’s stock valued at $1,732,000 after purchasing an additional 832 shares in the last quarter. Finally, Graypoint LLC lifted its holdings in Cencora by 7.8% in the 3rd quarter. Graypoint LLC now owns 1,171 shares of the company’s stock valued at $264,000 after purchasing an additional 85 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Cencora

In other news, EVP Silvana Battaglia sold 5,000 shares of the company’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $242.24, for a total value of $1,211,200.00. Following the completion of the transaction, the executive vice president now directly owns 15,374 shares in the company, valued at approximately $3,724,197.76. This represents a 24.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert P. Mauch sold 4,970 shares of Cencora stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $255.00, for a total transaction of $1,267,350.00. Following the sale, the chief executive officer now directly owns 51,070 shares in the company, valued at $13,022,850. This trade represents a 8.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,648 shares of company stock valued at $2,862,342 over the last three months. 10.80% of the stock is owned by company insiders.

Cencora Price Performance

COR stock opened at $254.54 on Friday. The company has a market cap of $49.36 billion, a PE ratio of 36.21, a price-to-earnings-growth ratio of 1.31 and a beta of 0.51. The company has a current ratio of 0.92, a quick ratio of 0.54 and a debt-to-equity ratio of 16.40. The stock has a 50-day moving average price of $244.34 and a two-hundred day moving average price of $238.40. Cencora, Inc. has a 12-month low of $214.77 and a 12-month high of $262.26.

Cencora (NYSE:COR) last posted its earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.50 by $0.23. Cencora had a net margin of 0.46% and a return on equity of 328.62%. As a group, research analysts predict that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.20 dividend on an annualized basis and a yield of 0.86%. Cencora’s dividend payout ratio (DPR) is 31.29%.

Analyst Ratings Changes

A number of brokerages have recently commented on COR. Wells Fargo & Company lifted their price target on shares of Cencora from $237.00 to $251.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 29th. Evercore ISI boosted their price target on Cencora from $270.00 to $280.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. StockNews.com lowered Cencora from a “buy” rating to a “hold” rating in a research note on Tuesday. Mizuho started coverage on Cencora in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 price objective for the company. Finally, JPMorgan Chase & Co. upped their target price on Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Cencora has a consensus rating of “Moderate Buy” and an average price target of $277.90.

Cencora Company 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.