Quarry LP Reduces Stock Position in Cencora, Inc. (NYSE:COR)

Quarry LP lowered its holdings in Cencora, Inc. (NYSE:COR) by 16.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 730 shares of the company’s stock after selling 144 shares during the quarter. Quarry LP’s holdings in Cencora were worth $164,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its position in shares of Cencora by 0.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,859,452 shares of the company’s stock worth $1,990,542,000 after acquiring an additional 78,066 shares in the last quarter. Boston Partners increased its holdings in shares of Cencora by 2.6% in the 4th quarter. Boston Partners now owns 5,007,100 shares of the company’s stock worth $1,128,058,000 after purchasing an additional 125,611 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Cencora by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 4,326,064 shares of the company’s stock worth $969,471,000 after purchasing an additional 130,213 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Cencora by 20.4% in the 4th quarter. Invesco Ltd. now owns 3,243,531 shares of the company’s stock worth $728,757,000 after purchasing an additional 550,246 shares in the last quarter. Finally, Pacer Advisors Inc. increased its holdings in shares of Cencora by 6.7% in the 4th quarter. Pacer Advisors Inc. now owns 2,204,242 shares of the company’s stock worth $495,249,000 after purchasing an additional 138,868 shares in the last quarter. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Insider Buying and Selling

In other news, CEO Robert P. Mauch sold 4,970 shares of Cencora stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $255.00, for a total transaction of $1,267,350.00. Following the completion of the sale, the chief executive officer now directly owns 51,070 shares in the company, valued at approximately $13,022,850. The trade was a 8.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Silvana Battaglia sold 5,000 shares of Cencora stock in a transaction 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 50,223 shares of company stock worth $13,580,967 in the last 90 days. 10.80% of the stock is owned by corporate insiders.

Cencora Price Performance

COR stock opened at $287.75 on Tuesday. Cencora, Inc. has a 12 month low of $214.77 and a 12 month high of $296.65. 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 company has a 50-day moving average price of $268.94 and a 200 day moving average price of $250.00. The stock has a market cap of $55.80 billion, a PE ratio of 40.93, a P/E/G ratio of 1.31 and a beta of 0.55.

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

Cencora Announces Dividend

The firm also recently declared 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 0.76%. Cencora’s payout ratio is presently 31.29%.

Analysts Set New Price Targets

A number of analysts have commented on the company. Wells Fargo & Company lifted their target price on Cencora from $251.00 to $274.00 and gave the stock an “equal weight” rating in a report on Friday, March 14th. Morgan Stanley set a $288.00 target price on Cencora in a research report on Tuesday, April 15th. JPMorgan Chase & Co. increased their price objective on shares of Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Bank of America increased their price objective on shares of Cencora from $270.00 to $285.00 and gave the company a “neutral” rating in a report on Friday, April 11th. Finally, Evercore ISI raised their target price on shares of Cencora from $270.00 to $280.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Cencora currently has a consensus rating of “Moderate Buy” and a consensus target price of $284.55.

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.