Tower Research Capital LLC TRC Acquires 5,047 Shares of Cencora, Inc. (NYSE:COR)

Tower Research Capital LLC TRC raised its holdings in shares of Cencora, Inc. (NYSE:COR) by 124.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 9,115 shares of the company’s stock after acquiring an additional 5,047 shares during the period. Tower Research Capital LLC TRC’s holdings in Cencora were worth $2,048,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Boston Partners increased its holdings in Cencora by 2.6% in the fourth quarter. Boston Partners now owns 5,007,100 shares of the company’s stock valued at $1,128,058,000 after purchasing an additional 125,611 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Cencora by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 4,326,064 shares of the company’s stock valued at $969,471,000 after acquiring an additional 130,213 shares during the last quarter. Invesco Ltd. raised its position in shares of Cencora by 20.4% in the 4th quarter. Invesco Ltd. now owns 3,243,531 shares of the company’s stock valued at $728,757,000 after acquiring an additional 550,246 shares during the period. Pacer Advisors Inc. boosted its stake in Cencora by 6.7% during the 4th quarter. Pacer Advisors Inc. now owns 2,204,242 shares of the company’s stock worth $495,249,000 after acquiring an additional 138,868 shares during the last quarter. Finally, Norges Bank acquired a new position in Cencora during the fourth quarter valued at approximately $478,309,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

Insiders Place Their Bets

In related news, Chairman Steven H. Collis sold 14,578 shares of Cencora stock in a transaction dated 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 owns 317,913 shares in the company, valued at approximately $85,680,732.63. This trade represents a 4.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Silvana Battaglia sold 5,000 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 15,374 shares in the company, valued at approximately $3,724,197.76. This trade represents a 24.54 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,644 shares of company stock valued at $9,472,459. 10.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

COR has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Morgan Stanley set a $288.00 target price on Cencora in a report on Tuesday, April 15th. StockNews.com upgraded Cencora from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Bank of America lifted their price objective on Cencora from $270.00 to $285.00 and gave the company a “neutral” rating in a report on Friday, April 11th. Finally, Evercore ISI boosted their price objective on Cencora from $270.00 to $280.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Cencora presently has a consensus rating of “Moderate Buy” and a consensus target price of $284.55.

Cencora Price Performance

NYSE COR opened at $286.08 on Wednesday. Cencora, Inc. has a 12-month low of $214.77 and a 12-month high of $296.65. The firm’s 50 day moving average is $265.58 and its 200-day moving average is $248.02. The company has a market capitalization of $55.48 billion, a PE ratio of 40.69, a price-to-earnings-growth ratio of 1.31 and a beta of 0.55. The company has a quick ratio of 0.54, a current ratio of 0.92 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 EPS for the quarter, topping the consensus estimate of $3.50 by $0.23. Cencora had a net margin of 0.46% and a return on equity of 328.62%. Equities research analysts anticipate that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The company also recently announced 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 0.77%. 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.