Cushing Capital Partners LLC Purchases Shares of 5,144 Cencora, Inc. (NYSE:COR)

Cushing Capital Partners LLC purchased a new stake in Cencora, Inc. (NYSE:COR) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 5,144 shares of the company’s stock, valued at approximately $1,156,000. Cencora comprises 1.1% of Cushing Capital Partners LLC’s holdings, making the stock its 28th largest holding.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in COR. State Street Corp grew its position in shares of Cencora by 3.8% in the 3rd quarter. State Street Corp now owns 8,045,896 shares of the company’s stock valued at $1,810,970,000 after acquiring an additional 291,867 shares during the period. Wellington Management Group LLP grew its position in shares of Cencora by 7.0% in the 3rd quarter. Wellington Management Group LLP now owns 5,193,386 shares of the company’s stock valued at $1,168,927,000 after acquiring an additional 338,452 shares during the period. Geode Capital Management LLC grew its position in shares of Cencora by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 4,195,851 shares of the company’s stock valued at $941,183,000 after acquiring an additional 189,054 shares during the period. Pacer Advisors Inc. grew its position in shares of Cencora by 6.7% in the 4th quarter. Pacer Advisors Inc. now owns 2,204,242 shares of the company’s stock valued at $495,249,000 after acquiring an additional 138,868 shares during the period. Finally, Two Sigma Advisers LP grew its position in shares of Cencora by 21.7% in the 3rd quarter. Two Sigma Advisers LP now owns 1,638,400 shares of the company’s stock valued at $368,771,000 after acquiring an additional 292,600 shares during the period. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on COR. StockNews.com downgraded shares of Cencora from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. Wells Fargo & Company lifted their price objective on shares of Cencora from $237.00 to $251.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 29th. Evercore ISI lifted their price objective on shares of Cencora from $270.00 to $280.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. 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 report on Friday, January 24th. Finally, Mizuho started coverage on shares of Cencora in a report on Wednesday, December 4th. They set an “outperform” rating and a $280.00 target price for the company. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $277.90.

Cencora Price Performance

Shares of Cencora stock opened at $261.65 on Tuesday. Cencora, Inc. has a twelve month low of $214.77 and a twelve month high of $262.56. 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 has a 50-day simple moving average of $245.08 and a two-hundred day simple moving average of $238.54. The stock has a market capitalization of $50.74 billion, a price-to-earnings ratio of 37.22, a price-to-earnings-growth ratio of 1.31 and a beta of 0.51.

Cencora (NYSE:COR) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $3.73 earnings per share 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%. Analysts forecast that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 0.84%. The ex-dividend date was Friday, February 14th. Cencora’s payout ratio is presently 31.29%.

Insider Activity

In other news, EVP Silvana Battaglia sold 1,678 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $228.72, for a total value of $383,792.16. Following the completion of the transaction, the executive vice president now directly owns 20,329 shares in the company, valued at approximately $4,649,648.88. The trade was a 7.62 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Robert P. Mauch sold 4,970 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at $13,022,850. The trade was a 8.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,648 shares of company stock worth $2,862,342. 10.80% of the stock is currently owned by corporate 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.