Cencora, Inc. (NYSE:COR) Stock Holdings Lowered by HBK Sorce Advisory LLC

HBK Sorce Advisory LLC decreased its holdings in Cencora, Inc. (NYSE:COR - Free Report) by 7.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,084 shares of the company's stock after selling 1,231 shares during the quarter. HBK Sorce Advisory LLC's holdings in Cencora were worth $3,614,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of Cencora by 122.6% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 342,582 shares of the company's stock valued at $76,982,000 after purchasing an additional 188,660 shares in the last quarter. Achmea Investment Management B.V. boosted its position in shares of Cencora by 8.5% in the fourth quarter. Achmea Investment Management B.V. now owns 125,870 shares of the company's stock worth $28,281,000 after acquiring an additional 9,857 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Cencora by 236.6% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,043 shares of the company's stock valued at $2,256,000 after buying an additional 7,059 shares during the period. Avantax Advisory Services Inc. increased its stake in Cencora by 2.1% during the fourth quarter. Avantax Advisory Services Inc. now owns 17,182 shares of the company's stock worth $3,860,000 after acquiring an additional 351 shares during the last quarter. Finally, Great Lakes Advisors LLC increased its position in Cencora by 1.5% during the 4th quarter. Great Lakes Advisors LLC now owns 384,688 shares of the company's stock worth $86,432,000 after purchasing an additional 5,529 shares in the last quarter. Institutional investors and hedge funds own 97.52% of the company's stock.

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Insider Activity

In other Cencora news, 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 value of $1,211,200.00. Following the completion of the transaction, the executive vice president now directly owns 15,374 shares in the company, valued at $3,724,197.76. The trade was a 24.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Lazarus Krikorian sold 2,000 shares of the company's stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 20,154 shares of the company's stock, valued at $5,241,249.24. This trade represents a 9.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,648 shares of company stock worth $3,382,462. 10.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

COR has been the subject of a number of research reports. Evercore ISI upped 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. Mizuho started coverage on Cencora in a research report on Wednesday, December 4th. They issued an "outperform" rating and a $280.00 target price for the company. JPMorgan Chase & Co. increased their target price on Cencora from $289.00 to $301.00 and gave the company an "overweight" rating in a research note on Friday, January 24th. StockNews.com raised Cencora from a "hold" rating to a "buy" rating in a research report on Wednesday, March 12th. Finally, Wells Fargo & Company increased their price objective on shares of Cencora from $251.00 to $274.00 and gave the company an "equal weight" rating in a research report on Friday. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, Cencora presently has a consensus rating of "Moderate Buy" and a consensus price target of $280.20.

Cencora Stock Up 1.1 %

COR traded up $2.91 during trading on Monday, hitting $260.98. The company had a trading volume of 1,238,931 shares, compared to its average volume of 1,347,283. Cencora, Inc. has a 1-year low of $214.77 and a 1-year high of $263.70. The company has a debt-to-equity ratio of 16.40, a current ratio of 0.92 and a quick ratio of 0.54. The company has a market cap of $50.61 billion, a PE ratio of 37.12, a P/E/G ratio of 1.31 and a beta of 0.51. The business has a 50-day moving average of $247.59 and a 200-day moving average of $239.15.

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

Cencora Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a $0.55 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.84%. Cencora's dividend payout ratio (DPR) is 31.29%.

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.