HBK Sorce Advisory LLC Sells 1,231 Shares of Cencora, Inc. (NYSE:COR)

HBK Sorce Advisory LLC decreased its stake in shares of Cencora, Inc. (NYSE:COR) by 7.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 16,084 shares of the company’s stock after selling 1,231 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Cencora were worth $3,614,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of COR. Swedbank AB boosted its position in shares of Cencora by 2.3% during the third quarter. Swedbank AB now owns 1,394,449 shares of the company’s stock worth $313,863,000 after acquiring an additional 31,104 shares during the last quarter. CWA Asset Management Group LLC bought a new position in shares of Cencora during the third quarter worth $285,000. United Bank lifted its position in Cencora by 4.2% during the third quarter. United Bank now owns 5,601 shares of the company’s stock valued at $1,261,000 after purchasing an additional 225 shares during the last quarter. Assetmark Inc. grew its stake in shares of Cencora by 33.8% in the 3rd quarter. Assetmark Inc. now owns 2,536 shares of the company’s stock worth $571,000 after buying an additional 641 shares in the last quarter. Finally, Ashton Thomas Securities LLC purchased a new position in shares of Cencora in the 3rd quarter worth $41,000. Institutional investors own 97.52% of the company’s stock.

Insider Activity at Cencora

In related news, EVP Silvana Battaglia sold 1,678 shares of Cencora stock in a transaction dated 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 sale, the executive vice president now owns 20,329 shares in the company, valued at $4,649,648.88. This trade represents a 7.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Robert P. Mauch sold 4,970 shares of Cencora 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 sale, the chief executive officer now owns 51,070 shares of the company’s stock, valued at $13,022,850. The trade was a 8.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,648 shares of company stock worth $3,382,462 in the last 90 days. 10.80% of the stock is owned by corporate insiders.

Cencora Price Performance

Cencora stock opened at $253.88 on Thursday. The firm has a 50-day moving average price of $246.39 and a 200-day moving average price of $238.81. The firm has a market capitalization of $49.23 billion, a PE ratio of 36.11, a price-to-earnings-growth ratio of 1.31 and a beta of 0.51. The company has a current ratio of 0.92, a quick ratio of 0.54 and a debt-to-equity ratio of 16.40. Cencora, Inc. has a 12-month low of $214.77 and a 12-month high of $263.70.

Cencora (NYSE:COR) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $3.73 earnings per share 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%. As a group, equities research analysts forecast that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.20 dividend on an annualized basis and a yield of 0.87%. Cencora’s payout ratio is 31.29%.

Analyst Upgrades and Downgrades

COR has been the subject of a number of recent research reports. Evercore ISI lifted their price objective 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. Wells Fargo & Company lifted their price objective on shares of Cencora from $237.00 to $251.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 29th. Mizuho initiated coverage on shares of Cencora in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 price objective for the company. StockNews.com raised shares of Cencora from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. lifted 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. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.