Assetmark Inc. Grows Stock Holdings in Cencora, Inc. (NYSE:COR)

Assetmark Inc. grew its position in Cencora, Inc. (NYSE:COR - Free Report) by 1,165.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,097 shares of the company's stock after purchasing an additional 29,561 shares during the period. Assetmark Inc.'s holdings in Cencora were worth $7,212,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Hickory Asset Management Inc. bought a new stake in Cencora during the fourth quarter worth about $572,000. Sylvest Advisors LLC bought a new stake in Cencora during the fourth quarter worth about $1,105,000. Insight Wealth Strategies LLC raised its holdings in Cencora by 124.6% during the fourth quarter. Insight Wealth Strategies LLC now owns 20,249 shares of the company's stock worth $4,549,000 after acquiring an additional 11,232 shares in the last quarter. Cerity Partners LLC raised its holdings in Cencora by 10.1% during the third quarter. Cerity Partners LLC now owns 39,457 shares of the company's stock worth $8,881,000 after acquiring an additional 3,610 shares in the last quarter. Finally, Vontobel Holding Ltd. raised its holdings in Cencora by 46.9% during the fourth quarter. Vontobel Holding Ltd. now owns 6,245 shares of the company's stock worth $1,403,000 after acquiring an additional 1,995 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors.

Insider Activity at Cencora

In other Cencora news, CEO Robert P. Mauch sold 4,970 shares of Cencora stock in a transaction on Monday, March 3rd. The shares were 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 directly owns 51,070 shares in the company, valued at approximately $13,022,850. The trade was a 8.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Silvana Battaglia sold 5,000 shares of the business's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $242.24, for a total transaction of $1,211,200.00. Following the completion of the sale, the executive vice president now owns 15,374 shares in the company, valued at approximately $3,724,197.76. This trade represents a 24.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,648 shares of company stock worth $2,862,342. 10.80% of the stock is owned by corporate insiders.

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Cencora Stock Performance

Shares of Cencora stock traded up $0.77 on Friday, hitting $254.54. 2,250,571 shares of the company's stock were exchanged, compared to its average volume of 1,521,899. The company has a 50-day simple moving average of $244.34 and a 200-day simple moving average of $238.40. The stock has a market capitalization of $49.36 billion, a PE ratio of 36.21, a PEG ratio of 1.31 and a beta of 0.51. Cencora, Inc. has a 1 year low of $214.77 and a 1 year high of $262.26. The company has a debt-to-equity ratio of 16.40, a quick ratio of 0.54 and a current ratio of 0.92.

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

Cencora Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend was Friday, February 14th. Cencora's dividend payout ratio (DPR) is 31.29%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on COR shares. Evercore ISI boosted their price target on Cencora from $270.00 to $280.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. StockNews.com downgraded Cencora from a "buy" rating to a "hold" rating in a research report on Tuesday, March 4th. Mizuho started coverage on Cencora in a research report on Wednesday, December 4th. They set an "outperform" rating and a $280.00 price target on the stock. Wells Fargo & Company boosted their price target on Cencora from $237.00 to $251.00 and gave the stock an "equal weight" rating in a research report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. boosted their price target on Cencora from $289.00 to $301.00 and gave the stock an "overweight" rating in a research report on Friday, January 24th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Cencora has an average rating of "Moderate Buy" and a consensus 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.