Mariner LLC Purchases 1,969 Shares of Cencora, Inc. (NYSE:COR)

Mariner LLC raised its holdings in shares of Cencora, Inc. (NYSE:COR - Free Report) by 3.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 56,412 shares of the company's stock after buying an additional 1,969 shares during the period. Mariner LLC's holdings in Cencora were worth $12,675,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new position in shares of Cencora in the fourth quarter worth approximately $478,309,000. Raymond James Financial Inc. purchased a new stake in Cencora during the 4th quarter valued at $322,460,000. Invesco Ltd. grew its holdings in Cencora by 20.4% in the 4th quarter. Invesco Ltd. now owns 3,243,531 shares of the company's stock worth $728,757,000 after acquiring an additional 550,246 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Cencora by 140.6% in the fourth quarter. Renaissance Technologies LLC now owns 550,700 shares of the company's stock valued at $123,731,000 after acquiring an additional 321,800 shares during the period. Finally, Amundi raised its stake in shares of Cencora by 30.8% during the fourth quarter. Amundi now owns 1,338,710 shares of the company's stock valued at $318,385,000 after acquiring an additional 314,846 shares during the last quarter. 97.52% of the stock is owned by institutional investors.

Cencora Stock Down 1.3 %

NYSE:COR traded down $3.61 during trading hours on Wednesday, reaching $282.66. 687,077 shares of the company traded hands, compared to its average volume of 1,507,415. The company has a current ratio of 0.92, a quick ratio of 0.54 and a debt-to-equity ratio of 16.40. The business's 50-day moving average price is $265.58 and its two-hundred day moving average price is $248.02. Cencora, Inc. has a 1 year low of $214.77 and a 1 year high of $296.65. The stock has a market capitalization of $54.81 billion, a P/E ratio of 40.21, a P/E/G ratio of 1.31 and a beta of 0.55.

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%. Analysts predict 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 dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date was Friday, February 14th. Cencora's payout ratio is 31.29%.

Insider Activity at Cencora

In related news, EVP Elizabeth S. Campbell sold 4,127 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $268.28, for a total transaction of $1,107,191.56. Following the sale, the executive vice president now directly owns 14,665 shares of the company's stock, valued at $3,934,326.20. This trade represents a 21.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Lazarus Krikorian sold 2,000 shares of the business's stock in a transaction dated Monday, March 10th. The stock was 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 directly owns 20,154 shares of the company's stock, valued at approximately $5,241,249.24. This trade represents a 9.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,644 shares of company stock valued at $9,472,459 over the last 90 days. Corporate insiders own 10.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on COR. Morgan Stanley set a $288.00 price target on shares of Cencora in a report on Tuesday, April 15th. JPMorgan Chase & Co. boosted their price target on shares of Cencora from $289.00 to $301.00 and gave the company an "overweight" rating in a research report on Friday, January 24th. Bank of America raised their price objective on shares of Cencora from $270.00 to $285.00 and gave the stock a "neutral" rating in a report on Friday, April 11th. Evercore ISI upped their target price on Cencora from $270.00 to $280.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. Finally, Wells Fargo & Company raised their target price 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 research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Cencora currently has an average rating of "Moderate Buy" and a consensus price target of $284.55.

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.