Cencora, Inc. (NYSE:COR) Holdings Trimmed by Summitry LLC

Summitry LLC lowered its holdings in Cencora, Inc. (NYSE:COR) by 7.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,190 shares of the company’s stock after selling 2,059 shares during the period. Summitry LLC’s holdings in Cencora were worth $5,884,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of COR. Raymond James Financial Inc. acquired a new stake in Cencora during the 4th quarter worth about $322,460,000. Wellington Management Group LLP lifted its position in shares of Cencora by 7.0% in the third quarter. Wellington Management Group LLP now owns 5,193,386 shares of the company’s stock worth $1,168,927,000 after purchasing an additional 338,452 shares in the last quarter. Amundi boosted its holdings in shares of Cencora by 30.8% during the fourth quarter. Amundi now owns 1,338,710 shares of the company’s stock worth $318,385,000 after purchasing an additional 314,846 shares during the period. Nordea Investment Management AB increased its stake in Cencora by 40.2% in the 4th quarter. Nordea Investment Management AB now owns 1,077,272 shares of the company’s stock valued at $243,173,000 after buying an additional 308,773 shares during the period. Finally, Two Sigma Advisers LP lifted its position in Cencora by 21.7% in the 3rd quarter. Two Sigma Advisers LP now owns 1,638,400 shares of the company’s stock worth $368,771,000 after buying an additional 292,600 shares in the last quarter. Institutional investors and hedge funds own 97.52% of the company’s stock.

Insider Transactions at Cencora

In other Cencora news, CEO Robert P. Mauch sold 4,970 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $255.00, for a total value of $1,267,350.00. Following the completion of the transaction, the chief executive officer now owns 51,070 shares of the company’s stock, valued at $13,022,850. This represents a 8.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Lazarus Krikorian sold 2,000 shares of Cencora stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $260.06, for a total value of $520,120.00. Following the sale, the chief accounting officer now directly owns 20,154 shares in the company, valued at $5,241,249.24. The trade was a 9.03 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,970 shares of company stock worth $2,998,670. Insiders own 10.80% of the company’s stock.

Cencora Stock Performance

NYSE:COR opened at $268.31 on Wednesday. The firm has a market capitalization of $52.03 billion, a PE ratio of 38.17, a PEG ratio of 1.31 and a beta of 0.51. Cencora, Inc. has a 1 year low of $214.77 and a 1 year high of $271.08. 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 firm’s fifty day simple moving average is $251.80 and its 200 day simple moving average is $240.46.

Cencora (NYSE:COR) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $3.73 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%. On average, sell-side analysts anticipate that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a $0.55 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.20 annualized dividend and a dividend yield of 0.82%. Cencora’s dividend payout ratio is 31.29%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. StockNews.com raised shares of Cencora from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Evercore ISI upped their target price on Cencora from $270.00 to $280.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Wells Fargo & Company lifted their price target on Cencora from $251.00 to $274.00 and gave the company an “equal weight” rating in a report on Friday, March 14th. JPMorgan Chase & Co. raised their price objective on shares of Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Finally, Mizuho initiated coverage on shares of Cencora in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 target price for the company. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $280.20.

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.