CenterBook Partners LP Cuts Position in Cencora, Inc. (NYSE:COR)

CenterBook Partners LP decreased its position in Cencora, Inc. (NYSE:COR) by 26.1% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 13,573 shares of the company’s stock after selling 4,791 shares during the period. CenterBook Partners LP’s holdings in Cencora were worth $3,050,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in COR. Arete Wealth Advisors LLC grew its position in shares of Cencora by 4.9% in the third quarter. Arete Wealth Advisors LLC now owns 2,412 shares of the company’s stock valued at $541,000 after purchasing an additional 113 shares during the period. XTX Topco Ltd acquired a new position in Cencora during the 3rd quarter worth approximately $521,000. Orion Portfolio Solutions LLC increased its stake in Cencora by 3.8% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 12,491 shares of the company’s stock worth $2,812,000 after buying an additional 457 shares during the period. Continuum Advisory LLC lifted its stake in shares of Cencora by 8.2% in the third quarter. Continuum Advisory LLC now owns 1,084 shares of the company’s stock worth $264,000 after acquiring an additional 82 shares in the last quarter. Finally, Vestcor Inc grew its position in shares of Cencora by 13.1% during the third quarter. Vestcor Inc now owns 3,438 shares of the company’s stock worth $774,000 after buying an additional 398 shares in the last quarter. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cencora

In other Cencora news, CAO Lazarus Krikorian sold 2,000 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $260.06, for a total value of $520,120.00. Following the completion of the transaction, the chief accounting officer now directly owns 20,154 shares in the company, valued at approximately $5,241,249.24. This trade represents a 9.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Silvana Battaglia sold 5,000 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $242.24, for a total value of $1,211,200.00. Following the transaction, the executive vice president now directly owns 15,374 shares of the company’s stock, valued at approximately $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. Insiders sold a total of 30,675 shares of company stock worth $8,034,778 over the last three months. Corporate insiders own 10.80% of the company’s stock.

Cencora Stock Performance

Shares of COR stock opened at $273.87 on Thursday. The company has a debt-to-equity ratio of 16.40, a quick ratio of 0.54 and a current ratio of 0.92. The company has a market capitalization of $53.11 billion, a P/E ratio of 38.96, a price-to-earnings-growth ratio of 1.31 and a beta of 0.55. Cencora, Inc. has a 52 week low of $214.77 and a 52 week high of $296.65. The company’s 50 day moving average price is $259.12 and its two-hundred day moving average price is $244.21.

Cencora (NYSE:COR) last announced 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 net margin of 0.46% and a return on equity of 328.62%. On average, analysts expect that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 0.80%. The ex-dividend date of this dividend was Friday, February 14th. Cencora’s dividend payout ratio (DPR) is currently 31.29%.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Evercore ISI increased their price objective on shares of Cencora from $270.00 to $280.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. StockNews.com raised shares of Cencora from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Finally, Wells Fargo & Company increased their price target on Cencora from $251.00 to $274.00 and gave the company an “equal weight” rating in a research report on Friday, March 14th. Two equities research 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 currently 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.