Convergence Investment Partners LLC Boosts Stock Holdings in Cencora, Inc. (NYSE:COR)

Convergence Investment Partners LLC grew its position in shares of Cencora, Inc. (NYSE:COR) by 27.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 7,935 shares of the company’s stock after buying an additional 1,733 shares during the period. Convergence Investment Partners LLC’s holdings in Cencora were worth $1,783,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. JFS Wealth Advisors LLC increased its holdings in Cencora by 63.0% in the 4th quarter. JFS Wealth Advisors LLC now owns 119 shares of the company’s stock worth $27,000 after acquiring an additional 46 shares in the last quarter. Concord Wealth Partners purchased a new stake in Cencora in the 3rd quarter worth $30,000. Kentucky Trust Co purchased a new stake in Cencora in the 4th quarter worth $33,000. Householder Group Estate & Retirement Specialist LLC increased its holdings in Cencora by 85.2% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 150 shares of the company’s stock worth $33,000 after acquiring an additional 69 shares in the last quarter. Finally, WASHINGTON TRUST Co increased its holdings in Cencora by 37.7% in the 4th quarter. WASHINGTON TRUST Co now owns 168 shares of the company’s stock worth $38,000 after acquiring an additional 46 shares in the last quarter. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Evercore ISI lifted their target price 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. Mizuho assumed coverage on shares of Cencora in a research note on Wednesday, December 4th. They set an “outperform” rating and a $280.00 target price on the stock. JPMorgan Chase & Co. lifted their target price 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. UBS Group lifted their target price on shares of Cencora from $275.00 to $285.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, Robert W. Baird lifted their target price on shares of Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Cencora currently has an average rating of “Moderate Buy” and an average target price of $277.90.

Cencora Stock Down 0.5 %

Shares of NYSE:COR opened at $241.37 on Wednesday. The stock’s 50-day moving average price is $238.75 and its two-hundred day moving average price is $237.41. The company has a current ratio of 0.92, a quick ratio of 0.53 and a debt-to-equity ratio of 16.40. Cencora, Inc. has a 12-month low of $214.77 and a 12-month high of $262.26. The firm has a market cap of $46.65 billion, a price-to-earnings ratio of 34.33, a PEG ratio of 1.49 and a beta of 0.49.

Cencora (NYSE:COR) last released its quarterly earnings results on Wednesday, February 5th. The company reported $3.73 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%. On average, research analysts forecast that Cencora, Inc. will post 15.36 EPS for the current year.

Cencora Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be issued a $0.55 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.91%. Cencora’s dividend payout ratio (DPR) is 31.29%.

Insider Activity

In related news, EVP Silvana Battaglia sold 1,678 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $228.72, for a total transaction of $383,792.16. Following the completion of the transaction, the executive vice president now owns 20,329 shares in the company, valued at $4,649,648.88. The trade was a 7.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Steven H. Collis sold 50,000 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $243.97, for a total value of $12,198,500.00. Following the transaction, the chairman now owns 326,557 shares of the company’s stock, valued at $79,670,111.29. This trade represents a 13.28 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 10.80% of the company’s stock.

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.