FourThought Financial Partners LLC Acquires New Position in Cencora, Inc. (NYSE:COR)

FourThought Financial Partners LLC bought a new position in Cencora, Inc. (NYSE:COR) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 959 shares of the company’s stock, valued at approximately $215,000.

A number of other institutional investors have also modified their holdings of COR. State Street Corp boosted its holdings in shares of Cencora by 3.8% in the third quarter. State Street Corp now owns 8,045,896 shares of the company’s stock valued at $1,810,970,000 after purchasing an additional 291,867 shares during the period. Wellington Management Group LLP raised its position in Cencora by 7.0% during the 3rd quarter. Wellington Management Group LLP now owns 5,193,386 shares of the company’s stock valued at $1,168,927,000 after purchasing an additional 338,452 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Cencora by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 4,195,851 shares of the company’s stock worth $941,183,000 after buying an additional 189,054 shares during the period. Pacer Advisors Inc. lifted 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 buying an additional 138,868 shares during the period. Finally, Two Sigma Advisers LP grew its position in shares of Cencora by 21.7% during the 3rd quarter. Two Sigma Advisers LP now owns 1,638,400 shares of the company’s stock worth $368,771,000 after buying an additional 292,600 shares in the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Cencora Stock Performance

Shares of COR opened at $250.78 on Thursday. 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 firm has a market cap of $48.63 billion, a PE ratio of 35.67, a P/E/G ratio of 1.31 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 stock has a fifty day moving average price of $240.27 and a 200-day moving average price of $237.56.

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

Cencora Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be paid a dividend of $0.55 per share. The ex-dividend date is Friday, February 14th. This represents a $2.20 dividend on an annualized basis and a yield of 0.88%. Cencora’s payout ratio is 31.29%.

Insiders Place Their Bets

In related news, 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 completion of the transaction, the executive vice president now owns 15,374 shares in the company, valued at $3,724,197.76. This trade represents a 24.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 10.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on COR. Barclays lifted their price objective on Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Mizuho assumed coverage on shares of Cencora in a report on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 price target for the company. 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 research note on Friday, January 24th. Evercore ISI lifted 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. Finally, Robert W. Baird upped their target price on Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $277.90.

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.