Cencora, Inc. (NYSE:COR) Shares Acquired by Cornerstone Investment Partners LLC

Cornerstone Investment Partners LLC grew its position in Cencora, Inc. (NYSE:COR) by 9.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 344,011 shares of the company’s stock after acquiring an additional 30,646 shares during the period. Cencora makes up 3.8% of Cornerstone Investment Partners LLC’s portfolio, making the stock its 7th biggest holding. Cornerstone Investment Partners LLC’s holdings in Cencora were worth $77,292,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Pacer Advisors Inc. grew its stake in Cencora by 6,855.3% during the 3rd quarter. Pacer Advisors Inc. now owns 2,065,374 shares of the company’s stock worth $464,874,000 after purchasing an additional 2,035,679 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Cencora by 7.0% during the 3rd quarter. Wellington Management Group LLP now owns 5,193,386 shares of the company’s stock worth $1,168,927,000 after acquiring an additional 338,452 shares in the last quarter. Nordea Investment Management AB boosted its position in shares of Cencora by 40.2% during the 4th quarter. Nordea Investment Management AB now owns 1,077,272 shares of the company’s stock worth $243,173,000 after acquiring an additional 308,773 shares in the last quarter. Two Sigma Advisers LP boosted its position in shares of Cencora by 21.7% during the 3rd quarter. Two Sigma Advisers LP now owns 1,638,400 shares of the company’s stock worth $368,771,000 after acquiring an additional 292,600 shares in the last quarter. Finally, State Street Corp boosted its position in shares of Cencora by 3.8% during the 3rd quarter. State Street Corp now owns 8,045,896 shares of the company’s stock worth $1,810,970,000 after acquiring an additional 291,867 shares in the last quarter. 97.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on COR. JPMorgan Chase & Co. boosted their target price on Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Evercore ISI boosted their target price on Cencora from $270.00 to $280.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Mizuho began coverage on Cencora in a report on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 target price for the company. UBS Group boosted 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. Finally, Barclays boosted their target price on Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $277.90.

Insider Transactions at Cencora

In other news, EVP Silvana Battaglia sold 1,678 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $228.72, for a total transaction of $383,792.16. Following the completion of the transaction, the executive vice president now directly owns 20,329 shares of the company’s stock, valued at approximately $4,649,648.88. This represents a 7.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 10.80% of the company’s stock.

Cencora Stock Up 0.7 %

COR opened at $255.22 on Tuesday. The business has a 50 day moving average price of $242.26 and a two-hundred day moving average price of $237.98. The company has a quick ratio of 0.54, a current ratio of 0.92 and a debt-to-equity ratio of 16.40. The company has a market cap of $49.49 billion, a PE ratio of 36.30, a P/E/G ratio of 1.31 and a beta of 0.49. Cencora, Inc. has a 52 week low of $214.77 and a 52 week high of $262.26.

Cencora (NYSE:COR) last issued 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 return on equity of 328.62% and a net margin of 0.46%. As a group, research analysts anticipate that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Dividend Announcement

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

About Cencora

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.