Pzena Investment Management LLC Acquires New Holdings in Cencora, Inc. (NYSE:COR)

Pzena Investment Management LLC bought a new position in shares of Cencora, Inc. (NYSE:COR - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,204 shares of the company's stock, valued at approximately $271,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hickory Asset Management Inc. bought a new stake in shares of Cencora during the 4th quarter worth $572,000. Sylvest Advisors LLC acquired a new position in Cencora during the 4th quarter worth $1,105,000. Insight Wealth Strategies LLC boosted its holdings in 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 period. Cerity Partners LLC grew its position in shares of Cencora by 10.1% in the third quarter. Cerity Partners LLC now owns 39,457 shares of the company's stock valued at $8,881,000 after purchasing an additional 3,610 shares during the last quarter. Finally, Vontobel Holding Ltd. increased 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 period. Institutional investors and hedge funds own 97.52% of the company's stock.

Insiders Place Their Bets

In related news, EVP Silvana Battaglia sold 5,000 shares of the stock in a transaction dated Friday, February 21st. The shares were 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 in the company, valued at $3,724,197.76. This trade represents a 24.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Robert P. Mauch sold 4,970 shares of the business'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 completion of the transaction, the chief executive officer now owns 51,070 shares in the company, valued at approximately $13,022,850. This trade represents a 8.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,648 shares of company stock worth $3,382,462 over the last three months. 10.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently weighed in on COR shares. Wells Fargo & Company increased their target price on Cencora from $237.00 to $251.00 and gave the company an "equal weight" rating in a research note on Wednesday, January 29th. Mizuho began coverage on Cencora in a research report on Wednesday, December 4th. They issued an "outperform" rating and a $280.00 price objective for the company. JPMorgan Chase & Co. raised their price objective on shares of Cencora from $289.00 to $301.00 and gave the stock an "overweight" rating in a research note on Friday, January 24th. StockNews.com upgraded shares of Cencora from a "hold" rating to a "buy" rating in a research note on Wednesday. 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 nine have assigned a buy rating to the stock. Based on data from MarketBeat, Cencora has an average rating of "Moderate Buy" and a consensus price target of $277.90.

Remove Ads

Cencora Stock Performance

NYSE COR opened at $260.87 on Wednesday. Cencora, Inc. has a twelve month low of $214.77 and a twelve month high of $263.70. The company has a quick ratio of 0.54, a current ratio of 0.92 and a debt-to-equity ratio of 16.40. The stock has a market cap of $50.59 billion, a P/E ratio of 37.11, a PEG ratio of 1.31 and a beta of 0.51. The company's 50-day simple moving average is $245.81 and its 200 day simple moving average is $238.70.

Cencora (NYSE:COR - Get Free Report) last released its quarterly earnings data 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 return on equity of 328.62% and a net margin of 0.46%. As a group, research analysts forecast that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Announces Dividend

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.