Portfolio Design Labs LLC Increases Stock Position in Cencora, Inc. (NYSE:COR)

Portfolio Design Labs LLC grew its holdings in Cencora, Inc. (NYSE:COR) by 76.9% during the 4th quarter, Holdings Channel reports. The firm owned 11,032 shares of the company’s stock after buying an additional 4,794 shares during the period. Portfolio Design Labs LLC’s holdings in Cencora were worth $2,479,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of COR. State Street Corp grew its holdings in Cencora by 3.8% during the 3rd quarter. State Street Corp now owns 8,045,896 shares of the company’s stock valued at $1,810,970,000 after buying an additional 291,867 shares during the last quarter. 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 valued at $1,168,927,000 after acquiring an additional 338,452 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Cencora by 4.7% during the third quarter. Geode Capital Management LLC now owns 4,195,851 shares of the company’s stock valued at $941,183,000 after acquiring an additional 189,054 shares during the last quarter. Pacer Advisors Inc. increased its position in Cencora by 6.7% during 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. Finally, Two Sigma Advisers LP raised its stake in Cencora by 21.7% in the 3rd quarter. Two Sigma Advisers LP now owns 1,638,400 shares of the company’s stock valued at $368,771,000 after purchasing an additional 292,600 shares during the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

COR has been the topic of several analyst reports. Evercore ISI raised their price target on shares of Cencora from $270.00 to $280.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Mizuho initiated coverage on shares of Cencora in a research report on Wednesday, December 4th. They set an “outperform” rating and a $280.00 target price on the stock. Wells Fargo & Company boosted their price target on Cencora from $237.00 to $251.00 and gave the company an “equal weight” rating in a report on Wednesday, January 29th. JPMorgan Chase & Co. raised their price objective on Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Finally, UBS Group upped their target price on Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Cencora currently has a consensus rating of “Moderate Buy” and a consensus target price of $277.90.

Cencora Stock Performance

Shares of NYSE:COR opened at $246.86 on Wednesday. The firm has a market capitalization of $47.71 billion, a PE ratio of 35.11, a P/E/G ratio of 1.49 and a beta of 0.49. Cencora, Inc. has a 12 month low of $214.77 and a 12 month high of $262.26. The company has a debt-to-equity ratio of 16.40, a current ratio of 0.92 and a quick ratio of 0.53. The business has a 50-day moving average of $238.86 and a two-hundred day moving average of $237.03.

Cencora (NYSE:COR) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $3.73 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%. As a group, research analysts forecast that Cencora, Inc. will post 15.36 earnings per share for the current year.

Cencora Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.20 dividend on an annualized basis and a yield of 0.89%. Cencora’s dividend payout ratio (DPR) is 31.29%.

Insider Buying and Selling

In other news, Chairman Steven H. Collis sold 50,000 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $243.97, for a total transaction of $12,198,500.00. Following the transaction, the chairman now directly owns 326,557 shares of the company’s stock, valued at approximately $79,670,111.29. The trade was a 13.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Silvana Battaglia sold 1,678 shares of the company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $228.72, for a total transaction of $383,792.16. Following the completion of the transaction, the executive vice president now owns 20,329 shares of the company’s stock, valued at $4,649,648.88. This trade represents a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 73,187 shares of company stock valued at $17,790,912. Company insiders own 10.80% of the company’s stock.

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.