Advisory Services Network LLC Decreases Holdings in Cencora, Inc. (NYSE:COR)

Advisory Services Network LLC lowered its position in Cencora, Inc. (NYSE:COR) by 60.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 2,650 shares of the company’s stock after selling 4,080 shares during the quarter. Advisory Services Network LLC’s holdings in Cencora were worth $595,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of COR. Norges Bank acquired a new stake in Cencora in the fourth quarter valued at $478,309,000. Raymond James Financial Inc. purchased a new stake in shares of Cencora in the 4th quarter worth about $322,460,000. Invesco Ltd. grew its stake in Cencora by 20.4% in the 4th quarter. Invesco Ltd. now owns 3,243,531 shares of the company’s stock valued at $728,757,000 after acquiring an additional 550,246 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Cencora by 140.6% during the 4th 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 in the last quarter. Finally, Amundi increased its holdings in Cencora by 30.8% during the 4th 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 in the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Cencora Stock Up 0.0 %

Shares of NYSE:COR opened at $284.40 on Wednesday. Cencora, Inc. has a 12-month low of $214.77 and a 12-month high of $296.65. The stock’s 50-day moving average price is $261.65 and its two-hundred day moving average price is $245.84. 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 firm has a market cap of $55.15 billion, a price-to-earnings ratio of 40.46, a PEG ratio of 1.31 and a beta of 0.55.

Cencora (NYSE:COR) last released its 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 net margin of 0.46% and a return on equity of 328.62%. On average, research analysts forecast that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were paid a dividend of $0.55 per share. The ex-dividend date was Friday, February 14th. This represents a $2.20 annualized dividend and a dividend yield of 0.77%. Cencora’s dividend payout ratio is presently 31.29%.

Insider Transactions at Cencora

In other news, EVP Elizabeth S. Campbell sold 4,127 shares of the business’s stock in a transaction dated 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 completion of the sale, the executive vice president now owns 14,665 shares in the company, valued at approximately $3,934,326.20. The trade was a 21.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Steven H. Collis sold 14,578 shares of the stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $269.51, for a total transaction of $3,928,916.78. Following the completion of the sale, the chairman now directly owns 317,913 shares of the company’s stock, valued at $85,680,732.63. The trade was a 4.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,675 shares of company stock worth $8,034,778 in the last ninety days. Insiders own 10.80% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on COR shares. JPMorgan Chase & Co. increased 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 increased their target price on Cencora from $270.00 to $285.00 and gave the company a “neutral” rating in a report on Friday, April 11th. Evercore ISI raised their price target on Cencora from $270.00 to $280.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. StockNews.com upgraded Cencora from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Finally, Wells Fargo & Company lifted their price objective on Cencora from $251.00 to $274.00 and gave the stock an “equal weight” rating in a research report 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. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $284.20.

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.