Cerity Partners LLC Grows Holdings in Cencora, Inc. (NYSE:COR)

Cerity Partners LLC lifted its holdings in shares of Cencora, Inc. (NYSE:COR) by 1.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 39,887 shares of the company’s stock after purchasing an additional 430 shares during the quarter. Cerity Partners LLC’s holdings in Cencora were worth $8,965,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Federated Hermes Inc. boosted its position in Cencora by 14.9% during the 4th quarter. Federated Hermes Inc. now owns 476,035 shares of the company’s stock worth $106,956,000 after purchasing an additional 61,819 shares during the period. Waterloo Capital L.P. acquired a new position in Cencora during the 4th quarter worth $641,000. Russell Investments Group Ltd. increased its holdings in Cencora by 22.7% in the fourth quarter. Russell Investments Group Ltd. now owns 220,517 shares of the company’s stock valued at $49,546,000 after buying an additional 40,751 shares during the last quarter. Wedbush Securities Inc. raised its position in shares of Cencora by 5.0% during the 4th quarter. Wedbush Securities Inc. now owns 8,538 shares of the company’s stock valued at $1,918,000 after acquiring an additional 405 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in shares of Cencora by 0.6% during the fourth quarter. Envestnet Asset Management Inc. now owns 589,072 shares of the company’s stock worth $132,353,000 after purchasing an additional 3,546 shares during the period. 97.52% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Cencora news, EVP Silvana Battaglia sold 5,000 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now owns 15,374 shares of the company’s stock, valued at $3,724,197.76. The trade was a 24.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Steven H. Collis sold 14,578 shares of the stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $269.51, for a total transaction of $3,928,916.78. Following the sale, the chairman now owns 317,913 shares in the company, valued at $85,680,732.63. The trade was a 4.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,675 shares of company stock worth $8,034,778 over the last ninety days. Insiders own 10.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on COR. StockNews.com upgraded shares of Cencora from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Wells Fargo & Company boosted their price target on shares of Cencora from $251.00 to $274.00 and gave the stock an “equal weight” rating in a research report on Friday, March 14th. JPMorgan Chase & Co. increased their price objective on Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Finally, Evercore ISI upped their price objective on shares of Cencora from $270.00 to $280.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Cencora currently has an average rating of “Moderate Buy” and an average target price of $280.20.

Cencora Price Performance

COR opened at $279.04 on Friday. The company’s 50 day simple moving average is $259.61 and its 200-day simple moving average is $244.58. The stock has a market capitalization of $54.11 billion, a P/E ratio of 39.69, a price-to-earnings-growth ratio of 1.31 and a beta of 0.55. Cencora, Inc. has a one year low of $214.77 and a one year high of $296.65. The company has a debt-to-equity ratio of 16.40, a current ratio of 0.92 and a quick ratio of 0.54.

Cencora (NYSE:COR) last released its quarterly earnings data on Wednesday, February 5th. The company reported $3.73 EPS for the quarter, beating 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%. Sell-side analysts anticipate that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date was Friday, February 14th. Cencora’s dividend payout ratio is presently 31.29%.

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.