Pinebridge Investments L.P. Has $37.32 Million Stake in Cencora, Inc. (NYSE:COR)

Pinebridge Investments L.P. increased its holdings in shares of Cencora, Inc. (NYSE:COR - Free Report) by 11.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 166,107 shares of the company's stock after purchasing an additional 17,041 shares during the quarter. Pinebridge Investments L.P. owned approximately 0.09% of Cencora worth $37,321,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. JFS Wealth Advisors LLC raised its holdings in Cencora by 63.0% during the fourth quarter. JFS Wealth Advisors LLC now owns 119 shares of the company's stock worth $27,000 after acquiring an additional 46 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in Cencora during the fourth quarter worth $30,000. Kentucky Trust Co acquired a new stake in Cencora in the fourth quarter valued at $33,000. Householder Group Estate & Retirement Specialist LLC increased its stake in shares of Cencora by 85.2% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 150 shares of the company's stock worth $33,000 after purchasing an additional 69 shares during the last quarter. Finally, WASHINGTON TRUST Co lifted its stake in Cencora by 37.7% in the 4th quarter. WASHINGTON TRUST Co now owns 168 shares of the company's stock valued at $38,000 after purchasing an additional 46 shares during the last quarter. Institutional investors own 97.52% of the company's stock.

Insider Activity at Cencora

In other Cencora news, Chairman Steven H. Collis sold 14,579 shares of the business's stock in a transaction on Tuesday, April 22nd. The shares were sold at an average price of $281.81, for a total transaction of $4,108,507.99. Following the sale, the chairman now owns 315,913 shares of the company's stock, valued at approximately $89,027,442.53. The trade was a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Lazarus Krikorian sold 2,000 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $260.06, for a total value of $520,120.00. Following the completion of the transaction, the chief accounting officer now owns 20,154 shares of the company's stock, valued at $5,241,249.24. The trade was a 9.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 50,223 shares of company stock valued at $13,580,967 over the last ninety days. 10.80% of the stock is owned by corporate insiders.

Cencora Price Performance

Shares of NYSE COR traded up $3.66 during mid-day trading on Friday, reaching $286.05. The company had a trading volume of 1,815,757 shares, compared to its average volume of 1,520,659. Cencora, Inc. has a one year low of $214.77 and a one year high of $296.65. The business's 50-day simple moving average is $268.09 and its 200 day simple moving average is $249.16. The company has a debt-to-equity ratio of 16.40, a quick ratio of 0.54 and a current ratio of 0.92. The firm has a market cap of $55.47 billion, a price-to-earnings ratio of 40.69, a PEG ratio of 1.31 and a beta of 0.55.

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 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%. On average, research analysts predict that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on COR shares. Evercore ISI upped their price objective on Cencora from $270.00 to $280.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Bank of America lifted their price objective 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. Morgan Stanley set a $288.00 target price on shares of Cencora in a research note on Tuesday, April 15th. JPMorgan Chase & Co. boosted their price objective on Cencora from $289.00 to $301.00 and gave the stock an "overweight" rating in a report on Friday, January 24th. Finally, Wells Fargo & Company boosted their price target on Cencora from $251.00 to $274.00 and gave the company an "equal weight" rating in a research note on Friday, March 14th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price 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.