Arrowstreet Capital Limited Partnership Increases Stock Position in Cencora, Inc. (NYSE:COR)

Arrowstreet Capital Limited Partnership increased its position in shares of Cencora, Inc. (NYSE:COR - Free Report) by 5.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,018,385 shares of the company's stock after acquiring an additional 48,199 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.53% of Cencora worth $228,811,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in shares of Cencora during the 4th quarter worth $478,309,000. Raymond James Financial Inc. acquired a new position in Cencora in the fourth quarter valued at about $322,460,000. Wellington Management Group LLP boosted its stake in Cencora by 7.0% during the third quarter. Wellington Management Group LLP now owns 5,193,386 shares of the company's stock worth $1,168,927,000 after buying an additional 338,452 shares during the period. Amundi increased its position in shares of Cencora by 30.8% during the fourth quarter. Amundi now owns 1,338,710 shares of the company's stock valued at $318,385,000 after acquiring an additional 314,846 shares during the last quarter. Finally, Nordea Investment Management AB raised its stake in shares of Cencora by 40.2% in the 4th quarter. Nordea Investment Management AB now owns 1,077,272 shares of the company's stock valued at $243,173,000 after acquiring an additional 308,773 shares during the period. Hedge funds and other institutional investors own 97.52% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on COR. Evercore ISI lifted their target price on shares of Cencora from $270.00 to $280.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Wells Fargo & Company lifted their price objective on Cencora from $251.00 to $274.00 and gave the company an "equal weight" rating in a research note on Friday, March 14th. StockNews.com upgraded Cencora from a "hold" rating to a "buy" rating in a report on Wednesday, March 12th. Finally, JPMorgan Chase & Co. boosted their price target 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 analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Cencora presently has a consensus rating of "Moderate Buy" and an average target price of $280.20.

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Cencora Stock Performance

Shares of COR stock traded down $10.07 during mid-day trading on Friday, hitting $279.29. The stock had a trading volume of 4,404,535 shares, compared to its average volume of 1,469,415. The firm has a market cap of $54.16 billion, a PE ratio of 39.73, a PEG ratio of 1.31 and a beta of 0.51. The company's 50-day simple moving average is $257.28 and its 200-day simple moving average is $242.65. The company has a debt-to-equity ratio of 16.40, a current ratio of 0.92 and a quick ratio of 0.54. Cencora, Inc. has a fifty-two week low of $214.77 and a fifty-two week high of $297.46.

Cencora (NYSE:COR - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $3.73 EPS 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%. Sell-side analysts anticipate that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date of this dividend was Friday, February 14th. Cencora's dividend payout ratio (DPR) is currently 31.29%.

Insiders Place Their Bets

In related news, CEO Robert P. Mauch sold 4,970 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $255.00, for a total value of $1,267,350.00. Following the sale, the chief executive officer now owns 51,070 shares in the company, valued at $13,022,850. This represents a 8.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Silvana Battaglia sold 5,000 shares of Cencora stock in a transaction 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 of the company's stock, valued at approximately $3,724,197.76. This represents a 24.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,675 shares of company stock worth $8,034,778. Corporate insiders own 10.80% of the company's stock.

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.