AXQ Capital LP Decreases Holdings in Cencora, Inc. (NYSE:COR)

AXQ Capital LP cut its holdings in shares of Cencora, Inc. (NYSE:COR) by 67.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,332 shares of the company’s stock after selling 8,901 shares during the quarter. AXQ Capital LP’s holdings in Cencora were worth $973,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Hickory Asset Management Inc. bought a new position in shares of Cencora in the fourth quarter worth approximately $572,000. Sylvest Advisors LLC bought a new stake in Cencora in the fourth quarter valued at $1,105,000. Insight Wealth Strategies LLC boosted its holdings in Cencora by 124.6% in the fourth quarter. Insight Wealth Strategies LLC now owns 20,249 shares of the company’s stock valued at $4,549,000 after acquiring an additional 11,232 shares in the last quarter. Cerity Partners LLC boosted its holdings in Cencora by 10.1% in the third quarter. Cerity Partners LLC now owns 39,457 shares of the company’s stock valued at $8,881,000 after acquiring an additional 3,610 shares in the last quarter. Finally, Vontobel Holding Ltd. boosted its holdings in Cencora by 46.9% in the fourth quarter. Vontobel Holding Ltd. now owns 6,245 shares of the company’s stock valued at $1,403,000 after acquiring an additional 1,995 shares in the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Cencora Price Performance

Shares of NYSE:COR opened at $266.91 on Friday. The firm’s 50 day moving average price is $250.62 and its 200-day moving average price is $240.06. Cencora, Inc. has a twelve month low of $214.77 and a twelve month high of $271.08. 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 stock has a market capitalization of $51.76 billion, a PE ratio of 37.97, a price-to-earnings-growth ratio of 1.31 and a beta of 0.51.

Cencora (NYSE:COR) last issued its quarterly earnings data 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 net margin of 0.46% and a return on equity of 328.62%. Equities research analysts expect that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Dividend Announcement

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

Insider Buying and Selling

In related news, CAO Lazarus Krikorian sold 2,000 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $260.06, for a total value of $520,120.00. Following the completion of the sale, the chief accounting officer now directly owns 20,154 shares of the company’s stock, valued at approximately $5,241,249.24. This represents a 9.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Silvana Battaglia sold 5,000 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $242.24, for a total transaction of $1,211,200.00. Following the completion of the sale, the executive vice president now directly owns 15,374 shares of the company’s stock, valued at $3,724,197.76. This represents a 24.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,970 shares of company stock valued at $2,998,670. 10.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Mizuho assumed coverage on shares of Cencora in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 target price on the stock. Evercore ISI upped their target price on shares of 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 upped their target price 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. Finally, StockNews.com raised shares of Cencora from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Cencora has an average rating of “Moderate Buy” and a consensus target price of $280.20.

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.