Arrowstreet Capital Limited Partnership Acquires 48,199 Shares of Cencora, Inc. (NYSE:COR)

Arrowstreet Capital Limited Partnership raised its holdings in shares of Cencora, Inc. (NYSE:COR) by 5.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,018,385 shares of the company’s stock after purchasing an additional 48,199 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Cencora were worth $228,811,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Hickory Asset Management Inc. bought a new position in Cencora during the 4th quarter valued at approximately $572,000. Sylvest Advisors LLC bought a new position in shares of Cencora during the fourth quarter valued at $1,105,000. Insight Wealth Strategies LLC raised its position in shares of Cencora by 124.6% in the 4th quarter. Insight Wealth Strategies LLC now owns 20,249 shares of the company’s stock worth $4,549,000 after purchasing an additional 11,232 shares during the last quarter. Vontobel Holding Ltd. boosted its stake in Cencora by 46.9% in the 4th 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 in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. grew its position in Cencora by 71.1% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 7,048 shares of the company’s stock valued at $1,583,000 after purchasing an additional 2,928 shares during the last quarter. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on COR shares. Wells Fargo & Company upped their target price on shares of Cencora from $251.00 to $274.00 and gave the stock an “equal weight” rating in a research note on Friday, March 14th. Mizuho initiated coverage on Cencora in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 price objective on the stock. Evercore ISI lifted their target price on Cencora from $270.00 to $280.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. JPMorgan Chase & Co. upped their price target on Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Finally, StockNews.com upgraded Cencora from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $280.20.

Insider Buying and Selling at Cencora

In related news, Chairman Steven H. Collis sold 14,578 shares of the stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $269.51, for a total transaction of $3,928,916.78. Following the completion of the transaction, the chairman now directly owns 317,913 shares of the company’s stock, valued at approximately $85,680,732.63. This represents a 4.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Lazarus Krikorian sold 2,000 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $260.06, for a total transaction of $520,120.00. Following the completion of the sale, the chief accounting officer now owns 20,154 shares in the company, valued at $5,241,249.24. This represents a 9.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,675 shares of company stock valued at $8,034,778 in the last three months. 10.80% of the stock is currently owned by corporate insiders.

Cencora Stock Performance

Shares of NYSE COR opened at $275.16 on Monday. The firm has a market capitalization of $53.36 billion, a price-to-earnings ratio of 39.14, a price-to-earnings-growth ratio of 1.31 and a beta of 0.51. Cencora, Inc. has a 12-month low of $214.77 and a 12-month high of $275.57. The firm has a 50 day moving average of $253.81 and a 200 day moving average of $241.24. 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 (NYSE:COR) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share (EPS) 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, research analysts anticipate that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a $0.55 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.20 annualized dividend and a yield of 0.80%. Cencora’s payout ratio is 31.29%.

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.