Convergence Investment Partners LLC Grows Stock Position in Cencora, Inc. (NYSE:COR)

Convergence Investment Partners LLC raised its position in Cencora, Inc. (NYSE:COR - Free Report) by 27.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,935 shares of the company's stock after acquiring an additional 1,733 shares during the quarter. Convergence Investment Partners LLC's holdings in Cencora were worth $1,783,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in COR. Hickory Asset Management Inc. bought a new position in Cencora in the 4th quarter worth approximately $572,000. Sylvest Advisors LLC bought a new position in shares of Cencora during the 4th quarter valued at approximately $1,105,000. Insight Wealth Strategies LLC raised its stake in shares of Cencora by 124.6% in the fourth quarter. Insight Wealth Strategies LLC now owns 20,249 shares of the company's stock valued at $4,549,000 after acquiring an additional 11,232 shares during the period. Cerity Partners LLC raised its position in Cencora by 10.1% in the 3rd quarter. Cerity Partners LLC now owns 39,457 shares of the company's stock worth $8,881,000 after purchasing an additional 3,610 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of Cencora by 71.1% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 7,048 shares of the company's stock worth $1,583,000 after acquiring an additional 2,928 shares during the last quarter. Hedge funds and other institutional investors own 97.52% of the company's stock.

Insider Activity

In other Cencora news, Chairman Steven H. Collis sold 50,000 shares of the company's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $243.97, for a total value of $12,198,500.00. Following the transaction, the chairman now owns 326,557 shares of the company's stock, valued at $79,670,111.29. This represents a 13.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Silvana Battaglia sold 1,678 shares of Cencora stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $228.72, for a total transaction of $383,792.16. Following the sale, the executive vice president now owns 20,329 shares of the company's stock, valued at approximately $4,649,648.88. This represents a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 10.80% of the company's stock.

Cencora Trading Down 0.8 %

Shares of COR stock traded down $1.99 on Friday, hitting $241.47. 1,060,827 shares of the stock traded hands, compared to its average volume of 1,488,495. Cencora, Inc. has a twelve month low of $214.77 and a twelve month high of $262.26. The stock has a market capitalization of $46.83 billion, a PE ratio of 34.35, a PEG ratio of 1.32 and a beta of 0.49. The firm's 50-day moving average price is $239.52 and its two-hundred day moving average price is $237.46. 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 posted its quarterly earnings results 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 net margin of 0.46% and a return on equity of 328.62%. As a group, analysts anticipate that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be given a $0.55 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.20 dividend on an annualized basis and a yield of 0.91%. Cencora's dividend payout ratio is currently 31.29%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on COR shares. Mizuho assumed coverage on shares of Cencora in a research report on Wednesday, December 4th. They issued an "outperform" rating and a $280.00 price objective for the company. Robert W. Baird boosted their target price on shares of Cencora from $287.00 to $292.00 and gave the stock an "outperform" rating in a report on Thursday, November 7th. Wells Fargo & Company raised their price objective on Cencora from $237.00 to $251.00 and gave the stock an "equal weight" rating in a research report on Wednesday, January 29th. JPMorgan Chase & Co. upped 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, Evercore ISI raised their price target on shares of Cencora from $270.00 to $280.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Cencora presently has an average rating of "Moderate Buy" and a consensus price target of $277.90.

Cencora 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.