Suncoast Equity Management Boosts Holdings in Cencora, Inc. (NYSE:COR)

Suncoast Equity Management increased its holdings in shares of Cencora, Inc. (NYSE:COR) by 2.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,407 shares of the company’s stock after buying an additional 591 shares during the period. Cencora comprises 0.7% of Suncoast Equity Management’s investment portfolio, making the stock its 21st largest holding. Suncoast Equity Management’s holdings in Cencora were worth $6,158,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Lake Street Advisors Group LLC increased its position in shares of Cencora by 1.3% during the third quarter. Lake Street Advisors Group LLC now owns 3,415 shares of the company’s stock worth $769,000 after acquiring an additional 43 shares during the period. Venturi Wealth Management LLC grew its stake in Cencora by 1.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 4,447 shares of the company’s stock worth $1,001,000 after purchasing an additional 46 shares in the last quarter. Prime Capital Investment Advisors LLC increased its holdings in Cencora by 1.2% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 3,768 shares of the company’s stock worth $848,000 after purchasing an additional 46 shares during the period. Shepherd Financial Partners LLC raised its position in Cencora by 0.9% in the 4th quarter. Shepherd Financial Partners LLC now owns 5,441 shares of the company’s stock valued at $1,223,000 after purchasing an additional 46 shares in the last quarter. Finally, WASHINGTON TRUST Co boosted its stake in shares of Cencora by 37.7% in the 4th quarter. WASHINGTON TRUST Co now owns 168 shares of the company’s stock valued at $38,000 after buying an additional 46 shares during the period. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

COR has been the topic of a number of recent research reports. Robert W. Baird upped 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. Mizuho assumed coverage on shares of Cencora in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 price objective on the stock. Wells Fargo & Company lifted their price objective on shares of Cencora from $237.00 to $251.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 29th. Evercore ISI boosted 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. Finally, UBS Group raised their price target on Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $277.90.

Cencora Stock Performance

Shares of COR stock opened at $243.42 on Friday. The stock’s 50-day moving average is $239.34 and its two-hundred day moving average is $237.46. The company has a debt-to-equity ratio of 16.40, a quick ratio of 0.54 and a current ratio of 0.92. Cencora, Inc. has a 1 year low of $214.77 and a 1 year high of $262.26. The firm has a market cap of $47.20 billion, a price-to-earnings ratio of 34.63, a PEG ratio of 1.29 and a beta of 0.49.

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

Cencora Announces Dividend

The firm also recently announced 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 0.90%. Cencora’s payout ratio is 31.29%.

Insider Activity at Cencora

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 stock was sold at an average price of $228.72, for a total value of $383,792.16. Following the transaction, the executive vice president now owns 20,329 shares of the company’s stock, valued at approximately $4,649,648.88. The trade was a 7.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Steven H. Collis sold 50,000 shares of the company’s stock in a transaction that occurred 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 sale, 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. 10.80% of the stock is owned by 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.