Alpine Global Management LLC Takes $254,000 Position in Cencora, Inc. (NYSE:COR)

Alpine Global Management LLC purchased a new position in shares of Cencora, Inc. (NYSE:COR - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 1,129 shares of the company's stock, valued at approximately $254,000.

A number of other large investors also recently modified their holdings of COR. Passumpsic Savings Bank raised its stake in Cencora by 4.9% in the third quarter. Passumpsic Savings Bank now owns 6,464 shares of the company's stock valued at $1,455,000 after purchasing an additional 304 shares in the last quarter. Virtu Financial LLC boosted its position in shares of Cencora by 112.2% in the 3rd quarter. Virtu Financial LLC now owns 10,227 shares of the company's stock worth $2,302,000 after purchasing an additional 5,407 shares in the last quarter. World Investment Advisors LLC bought a new position in Cencora in the 3rd quarter valued at approximately $4,072,000. Arvest Bank Trust Division purchased a new stake in Cencora in the third quarter worth approximately $218,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Cencora during the third quarter valued at approximately $566,000. 97.52% of the stock is currently owned by institutional investors.

Cencora Trading Up 1.3 %

Cencora stock traded up $3.66 during mid-day trading on Friday, hitting $286.05. The stock had a trading volume of 1,815,757 shares, compared to its average volume of 1,520,659. The stock has a 50-day simple moving average of $268.09 and a two-hundred day simple moving average of $249.16. The stock has a market capitalization of $55.47 billion, a PE ratio of 40.69, a P/E/G ratio of 1.31 and a beta of 0.55. Cencora, Inc. has a 12 month low of $214.77 and a 12 month high of $296.65. 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 - Get Free Report) last announced 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, sell-side analysts forecast that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a dividend of $0.55 per share. The ex-dividend date was Friday, February 14th. This represents a $2.20 annualized dividend and a yield of 0.77%. Cencora's payout ratio is 31.29%.

Insider Transactions at Cencora

In other news, CAO Lazarus Krikorian sold 2,000 shares of the 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 transaction, the chief accounting officer now owns 20,154 shares in the company, valued at approximately $5,241,249.24. This represents a 9.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Silvana Battaglia sold 5,000 shares of the firm's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $242.24, for a total value of $1,211,200.00. Following the completion of the sale, the executive vice president now directly owns 15,374 shares in the company, valued at approximately $3,724,197.76. The trade was a 24.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 50,223 shares of company stock valued at $13,580,967 in the last quarter. 10.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

COR has been the subject of a number of research reports. Bank of America upped their target price on shares of Cencora from $270.00 to $285.00 and gave the stock a "neutral" rating in a research report on Friday, April 11th. StockNews.com upgraded Cencora from a "hold" rating to a "buy" rating in a research note on Wednesday, March 12th. Evercore ISI upped their target price on Cencora from $270.00 to $280.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. raised their price target on shares of Cencora from $289.00 to $301.00 and gave the company an "overweight" rating in a research note on Friday, January 24th. Finally, Morgan Stanley set a $288.00 price objective on Cencora in a report on Tuesday, April 15th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $284.55.

Cencora Company 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.