1,204 Shares in Cencora, Inc. (NYSE:COR) Purchased by Pzena Investment Management LLC

Pzena Investment Management LLC acquired a new stake in Cencora, Inc. (NYSE:COR) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 1,204 shares of the company’s stock, valued at approximately $271,000.

A number of other institutional investors also recently modified their holdings of COR. Pacer Advisors Inc. increased its holdings in shares of Cencora by 6,855.3% in the third quarter. Pacer Advisors Inc. now owns 2,065,374 shares of the company’s stock valued at $464,874,000 after purchasing an additional 2,035,679 shares in the last quarter. Raymond James Financial Inc. bought a new position in Cencora in the 4th quarter valued at $322,460,000. Wellington Management Group LLP increased its stake 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 buying an additional 338,452 shares during the period. Amundi raised its position in shares of Cencora by 30.8% during the fourth 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 last quarter. Finally, Nordea Investment Management AB lifted its stake in shares of Cencora by 40.2% during the fourth quarter. Nordea Investment Management AB now owns 1,077,272 shares of the company’s stock valued at $243,173,000 after acquiring an additional 308,773 shares during the period. 97.52% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Silvana Battaglia sold 1,678 shares of Cencora stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $228.72, for a total value of $383,792.16. Following the sale, the executive vice president now owns 20,329 shares of the company’s stock, valued at approximately $4,649,648.88. This trade represents 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, CAO Lazarus Krikorian sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $260.06, for a total value of $520,120.00. Following the transaction, the chief accounting officer now directly owns 20,154 shares of the company’s stock, valued at approximately $5,241,249.24. This trade represents a 9.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,648 shares of company stock worth $3,382,462 over the last quarter. 10.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have weighed in on the company. StockNews.com raised Cencora from a “hold” rating to a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. boosted their price target 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. Mizuho initiated coverage on shares of Cencora in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 price objective on the stock. Evercore ISI upped their target price 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. Finally, Wells Fargo & Company increased their price target on Cencora from $237.00 to $251.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 29th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Cencora currently has a consensus rating of “Moderate Buy” and an average target price of $277.90.

Cencora Stock Performance

Shares of Cencora stock opened at $260.87 on Wednesday. The stock’s fifty day simple moving average is $245.81 and its 200 day simple moving average is $238.70. 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 company has a market capitalization of $50.59 billion, a PE ratio of 37.11, a PEG ratio of 1.31 and a beta of 0.51. Cencora, Inc. has a 12 month low of $214.77 and a 12 month high of $263.70.

Cencora (NYSE:COR) last released its quarterly earnings results on Wednesday, February 5th. The company reported $3.73 EPS for the quarter, topping analysts’ consensus estimates 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 predict that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date of this dividend was Friday, February 14th. Cencora’s payout ratio is currently 31.29%.

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.