Cornerstone Investment Partners LLC Grows Stock Holdings in Cencora, Inc. (NYSE:COR)

Cornerstone Investment Partners LLC raised its holdings in shares of Cencora, Inc. (NYSE:COR - Free Report) by 9.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 344,011 shares of the company's stock after buying an additional 30,646 shares during the period. Cencora comprises approximately 3.8% of Cornerstone Investment Partners LLC's portfolio, making the stock its 7th largest position. Cornerstone Investment Partners LLC owned about 0.18% of Cencora worth $77,292,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hickory Asset Management Inc. bought a new stake in Cencora during the 4th quarter valued at $572,000. Sylvest Advisors LLC purchased a new position in shares of Cencora in the fourth quarter valued at about $1,105,000. Insight Wealth Strategies LLC raised its stake in shares of Cencora by 124.6% during 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 last quarter. Cerity Partners LLC boosted its holdings in shares of 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 purchasing an additional 3,610 shares during the period. Finally, Vontobel Holding Ltd. grew its stake in shares of Cencora by 46.9% in the fourth quarter. Vontobel Holding Ltd. now owns 6,245 shares of the company's stock worth $1,403,000 after purchasing an additional 1,995 shares during the last quarter. 97.52% of the stock is owned by institutional investors.

Cencora Stock Down 0.7 %

NYSE:COR traded down $1.88 during mid-day trading on Wednesday, hitting $251.40. 1,501,539 shares of the company's stock were exchanged, compared to its average volume of 1,484,406. The company has a market cap of $48.75 billion, a PE ratio of 35.76, a P/E/G ratio of 1.31 and a beta of 0.49. 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 one year low of $214.77 and a one year high of $262.26. The business has a fifty day moving average price of $242.78 and a 200 day moving average price of $238.09.

Cencora (NYSE:COR - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share (EPS) for the quarter, topping 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%. Equities analysts predict that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a $0.55 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.20 dividend on an annualized basis and a yield of 0.88%. Cencora's payout ratio is currently 31.29%.

Insider Activity at Cencora

In other news, CEO Robert P. Mauch sold 4,970 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $255.00, for a total transaction of $1,267,350.00. Following the sale, the chief executive officer now owns 51,070 shares of the company's stock, valued at $13,022,850. This trade represents a 8.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Silvana Battaglia sold 5,000 shares of Cencora stock in a transaction that occurred on 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 of the company's stock, valued at $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 three months, insiders have sold 11,648 shares of company stock valued at $2,862,342. 10.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have commented on COR. Wells Fargo & Company upped their price target on Cencora from $237.00 to $251.00 and gave the company an "equal weight" rating in a research report on Wednesday, January 29th. Barclays upped their target price on Cencora from $263.00 to $290.00 and gave the company an "overweight" rating in a report on Thursday, November 7th. Robert W. Baird lifted their price target on shares of Cencora from $287.00 to $292.00 and gave the company an "outperform" rating in a report on Thursday, November 7th. JPMorgan Chase & Co. upped their price objective on shares of Cencora from $289.00 to $301.00 and gave the stock an "overweight" rating in a report on Friday, January 24th. Finally, Evercore ISI raised their target price 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. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $277.90.

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.