Stevens Capital Management LP Boosts Stock Position in Cencora, Inc. (NYSE:COR)

Stevens Capital Management LP grew its stake in shares of Cencora, Inc. (NYSE:COR) by 30.1% during the 4th quarter, HoldingsChannel reports. The fund owned 4,186 shares of the company’s stock after buying an additional 968 shares during the period. Stevens Capital Management LP’s holdings in Cencora were worth $941,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. JFS Wealth Advisors LLC raised its position in shares of Cencora by 63.0% in the fourth quarter. JFS Wealth Advisors LLC now owns 119 shares of the company’s stock worth $27,000 after buying an additional 46 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Cencora in the fourth quarter worth $30,000. Householder Group Estate & Retirement Specialist LLC raised its position in shares of Cencora by 85.2% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 150 shares of the company’s stock worth $33,000 after buying an additional 69 shares in the last quarter. Kentucky Trust Co purchased a new stake in shares of Cencora in the fourth quarter worth $33,000. Finally, WASHINGTON TRUST Co raised its position in shares of Cencora by 37.7% in the fourth quarter. WASHINGTON TRUST Co now owns 168 shares of the company’s stock worth $38,000 after buying an additional 46 shares in the last quarter. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Cencora Stock Performance

Cencora stock opened at $266.91 on Friday. 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 firm has a 50-day moving average of $250.62 and a 200-day moving average of $240.03. The firm has a market cap of $51.76 billion, a P/E ratio of 37.97, a P/E/G ratio of 1.31 and a beta of 0.51. Cencora, Inc. has a 1-year low of $214.77 and a 1-year high of $271.08.

Cencora (NYSE:COR) last posted its earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share for the quarter, topping analysts’ consensus estimates of $3.50 by $0.23. Cencora had a net margin of 0.46% and a return on equity of 328.62%. Sell-side analysts expect 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 issued a dividend of $0.55 per share. The ex-dividend date was Friday, February 14th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.82%. Cencora’s dividend payout ratio is currently 31.29%.

Insider Transactions at Cencora

In other Cencora news, CAO Lazarus Krikorian sold 2,000 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $260.06, for a total value of $520,120.00. Following the completion of the sale, the chief accounting officer now directly owns 20,154 shares in the company, valued at $5,241,249.24. This trade represents a 9.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Silvana Battaglia sold 5,000 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $3,724,197.76. This trade represents a 24.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,970 shares of company stock worth $2,998,670. Company insiders own 10.80% of the company’s stock.

Wall Street Analysts Forecast Growth

COR has been the topic of a number of recent analyst reports. Wells Fargo & Company increased their price objective on Cencora from $251.00 to $274.00 and gave the stock an “equal weight” rating in a research report on Friday, March 14th. StockNews.com raised Cencora from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Mizuho assumed coverage on Cencora in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 target price on the stock. JPMorgan Chase & Co. increased their target price on Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Finally, Evercore ISI increased their target price on Cencora from $270.00 to $280.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $280.20.

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.