Black Creek Investment Management Inc. Acquires 6,440 Shares of Cencora, Inc. (NYSE:COR)

Black Creek Investment Management Inc. boosted its holdings in Cencora, Inc. (NYSE:COR) by 22.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 35,225 shares of the company’s stock after purchasing an additional 6,440 shares during the period. Cencora accounts for 0.4% of Black Creek Investment Management Inc.’s portfolio, making the stock its 20th largest holding. Black Creek Investment Management Inc.’s holdings in Cencora were worth $7,914,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Hickory Asset Management Inc. bought a new stake in shares of Cencora in the 4th quarter valued at approximately $572,000. Sylvest Advisors LLC bought a new stake in Cencora in the fourth quarter valued at $1,105,000. Insight Wealth Strategies LLC raised its stake in Cencora by 124.6% during the fourth quarter. Insight Wealth Strategies LLC now owns 20,249 shares of the company’s stock worth $4,549,000 after acquiring an additional 11,232 shares in the last quarter. Vontobel Holding Ltd. raised its stake in Cencora by 46.9% during the fourth quarter. Vontobel Holding Ltd. now owns 6,245 shares of the company’s stock worth $1,403,000 after acquiring an additional 1,995 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Cencora by 71.1% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 7,048 shares of the company’s stock valued at $1,583,000 after acquiring an additional 2,928 shares during the period. Institutional investors and hedge funds own 97.52% of the company’s stock.

Cencora Trading Up 1.9 %

Shares of COR opened at $284.46 on Friday. The stock’s fifty day simple moving average is $260.27 and its 200-day simple moving average is $245.01. The firm has a market capitalization of $55.16 billion, a PE ratio of 40.46, a price-to-earnings-growth ratio of 1.31 and a beta of 0.55. Cencora, Inc. has a 12-month low of $214.77 and a 12-month high of $296.65. The company has a quick ratio of 0.54, a current ratio of 0.92 and a debt-to-equity ratio of 16.40.

Cencora (NYSE:COR) last issued its earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share (EPS) for the quarter, beating 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, research analysts predict that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Bank of America increased their target price on shares of Cencora from $270.00 to $285.00 and gave the stock a “neutral” rating in a research report on Friday. Wells Fargo & Company raised their price objective on shares of Cencora from $251.00 to $274.00 and gave the stock an “equal weight” rating in a report on Friday, March 14th. JPMorgan Chase & Co. boosted their target price on Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. StockNews.com raised Cencora from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Finally, Evercore ISI boosted their price objective on Cencora from $270.00 to $280.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $284.20.

Insider Activity

In other news, EVP Silvana Battaglia sold 5,000 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now directly owns 15,374 shares of the company’s stock, valued at $3,724,197.76. This represents a 24.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Steven H. Collis sold 14,578 shares of Cencora stock in a transaction that occurred 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 transaction, the chairman now directly owns 317,913 shares in the company, 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 have sold a total of 30,675 shares of company stock valued at $8,034,778 in the last 90 days. 10.80% of the stock is owned by company insiders.

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.