Rhumbline Advisers Decreases Position in Cencora, Inc. (NYSE:COR)

Rhumbline Advisers cut its stake in shares of Cencora, Inc. (NYSE:COR) by 4.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 401,068 shares of the company’s stock after selling 17,757 shares during the period. Rhumbline Advisers owned 0.21% of Cencora worth $90,112,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in COR. Pacer Advisors Inc. raised its position in Cencora by 6,855.3% during the third quarter. Pacer Advisors Inc. now owns 2,065,374 shares of the company’s stock valued at $464,874,000 after purchasing an additional 2,035,679 shares during the period. Wellington Management Group LLP raised its position in Cencora by 7.0% during 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 purchasing an additional 338,452 shares during the period. Nordea Investment Management AB grew its stake in shares of Cencora by 40.2% during the fourth quarter. Nordea Investment Management AB now owns 1,077,272 shares of the company’s stock valued at $243,173,000 after buying an additional 308,773 shares during the last quarter. Two Sigma Advisers LP grew its stake in shares of Cencora by 21.7% during the third quarter. Two Sigma Advisers LP now owns 1,638,400 shares of the company’s stock valued at $368,771,000 after buying an additional 292,600 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Cencora by 3.8% during the third 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. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Silvana Battaglia sold 1,678 shares of the stock in a transaction on Friday, December 20th. The stock was 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 approximately $4,649,648.88. This represents a 7.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Steven H. Collis sold 50,000 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $243.97, for a total value of $12,198,500.00. Following the sale, the chairman now owns 326,557 shares of the company’s stock, valued at approximately $79,670,111.29. This represents a 13.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 73,187 shares of company stock worth $17,790,912 over the last 90 days. Company insiders own 10.80% of the company’s stock.

Cencora Stock Down 0.6 %

Cencora stock opened at $243.03 on Friday. The business has a fifty day moving average of $238.70 and a two-hundred day moving average of $237.42. The company has a quick ratio of 0.53, a current ratio of 0.92 and a debt-to-equity ratio of 16.40. The firm has a market cap of $46.97 billion, a P/E ratio of 34.57, a P/E/G ratio of 1.49 and a beta of 0.49. Cencora, Inc. has a twelve month low of $214.77 and a twelve month high of $262.26.

Cencora (NYSE:COR) last posted its earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share for the quarter, topping analysts’ consensus estimates of $3.50 by $0.23. Cencora had a return on equity of 328.62% and a net margin of 0.46%. On average, analysts forecast that Cencora, Inc. will post 15.36 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be issued 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 0.91%. Cencora’s dividend payout ratio is currently 31.29%.

Analyst Upgrades and Downgrades

COR has been the topic of a number of analyst reports. JPMorgan Chase & Co. upped their target price on Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Robert W. Baird upped their target price on Cencora from $287.00 to $292.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. 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. Mizuho began coverage on Cencora in a research note on Wednesday, December 4th. They set an “outperform” rating and a $280.00 target price on the stock. Finally, Barclays increased their price objective on Cencora from $263.00 to $290.00 and gave the stock an “overweight” 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. According to MarketBeat, Cencora has an average rating of “Moderate Buy” and an average price target of $277.90.

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.