Sterling Capital Management LLC Reduces Stock Position in Cencora, Inc. (NYSE:COR)

Sterling Capital Management LLC lessened its holdings in shares of Cencora, Inc. (NYSE:COR) by 2.1% during the fourth quarter, Holdings Channel reports. The firm owned 15,155 shares of the company’s stock after selling 330 shares during the quarter. Sterling Capital Management LLC’s holdings in Cencora were worth $3,405,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Norges Bank purchased a new stake in shares of Cencora in the 4th quarter worth about $478,309,000. Raymond James Financial Inc. bought a new position in Cencora in the fourth quarter worth about $322,460,000. Invesco Ltd. raised its stake in Cencora by 20.4% in the fourth quarter. Invesco Ltd. now owns 3,243,531 shares of the company’s stock worth $728,757,000 after buying an additional 550,246 shares in the last quarter. Renaissance Technologies LLC boosted its position 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 grew its holdings in shares of Cencora by 30.8% during the 4th quarter. Amundi now owns 1,338,710 shares of the company’s stock worth $318,385,000 after acquiring an additional 314,846 shares during the period. Institutional investors own 97.52% of the company’s stock.

Insider Buying and Selling at Cencora

In related news, Chairman Steven H. Collis sold 14,578 shares of the stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $269.51, for a total transaction of $3,928,916.78. Following the transaction, the chairman now owns 317,913 shares in the company, valued at $85,680,732.63. This represents a 4.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Silvana Battaglia sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was 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 represents a 24.54 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,675 shares of company stock worth $8,034,778. Company insiders own 10.80% of the company’s stock.

Cencora Trading Up 1.9 %

NYSE:COR opened at $284.46 on Friday. The stock has a market cap of $55.16 billion, a price-to-earnings ratio of 40.46, a PEG ratio of 1.31 and a beta of 0.55. 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 company’s 50 day moving average price is $260.27 and its 200-day moving average price is $245.01. Cencora, Inc. has a 52 week low of $214.77 and a 52 week high of $296.65.

Cencora (NYSE:COR) last issued its earnings results on Wednesday, February 5th. The company reported $3.73 EPS 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%. On average, equities research analysts forecast that Cencora, Inc. will post 15.37 earnings per share for the current fiscal 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 $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend was Friday, February 14th. Cencora’s dividend payout ratio (DPR) is 31.29%.

Wall Street Analyst Weigh In

COR has been the subject of a number of research analyst reports. Bank of America raised their target price on Cencora from $270.00 to $285.00 and gave the company a “neutral” rating in a research note on Friday. JPMorgan Chase & Co. upped their target price on shares of Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Evercore ISI increased their price target on shares of Cencora from $270.00 to $280.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. StockNews.com upgraded shares of Cencora from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Finally, Wells Fargo & Company raised their target price on shares of 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 company’s stock. Based on data from MarketBeat, Cencora currently has a consensus rating of “Moderate Buy” and an average price target of $284.20.

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.