Pzena Investment Management LLC Acquires New Holdings in Cencora, Inc. (NYSE:COR)

Pzena Investment Management LLC bought a new position in shares of Cencora, Inc. (NYSE:COR) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,204 shares of the company’s stock, valued at approximately $271,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hickory Asset Management Inc. bought a new stake in shares of Cencora during the 4th quarter worth $572,000. Sylvest Advisors LLC acquired a new position in Cencora during the 4th quarter worth $1,105,000. Insight Wealth Strategies LLC boosted its holdings in Cencora by 124.6% during 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 during the period. Cerity Partners LLC grew its position in shares of 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 purchasing an additional 3,610 shares during the last quarter. Finally, Vontobel Holding Ltd. increased its stake in shares of Cencora by 46.9% in the fourth quarter. Vontobel Holding Ltd. now owns 6,245 shares of the company’s stock worth $1,403,000 after purchasing an additional 1,995 shares during the period. Institutional investors and hedge funds own 97.52% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Silvana Battaglia sold 5,000 shares of the stock in a transaction dated Friday, February 21st. The shares were 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 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 document filed with the SEC, which is available through the SEC website. Also, CEO Robert P. Mauch sold 4,970 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 51,070 shares in the company, valued at approximately $13,022,850. This trade represents a 8.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,648 shares of company stock worth $3,382,462 over the last three months. 10.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently weighed in on COR shares. Wells Fargo & Company increased their target price on Cencora from $237.00 to $251.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 29th. Mizuho began coverage on Cencora in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 price objective for the company. JPMorgan Chase & Co. raised their price objective on shares of Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. StockNews.com upgraded shares of Cencora from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, 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 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. Based on data from MarketBeat, Cencora has an average rating of “Moderate Buy” and a consensus price target of $277.90.

Cencora Stock Performance

NYSE COR opened at $260.87 on Wednesday. Cencora, Inc. has a twelve month low of $214.77 and a twelve month high of $263.70. 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 cap of $50.59 billion, a P/E ratio of 37.11, a PEG ratio of 1.31 and a beta of 0.51. The company’s 50-day simple moving average is $245.81 and its 200 day simple moving average is $238.70.

Cencora (NYSE:COR) last released its quarterly earnings data on Wednesday, February 5th. The company reported $3.73 earnings per share 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%. As a group, research analysts forecast 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 was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date of this dividend was Friday, February 14th. Cencora’s dividend payout ratio (DPR) is 31.29%.

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.