AdvisorShares Investments LLC Has $7.04 Million Position in Cencora, Inc. (NYSE:COR)

AdvisorShares Investments LLC increased its position in shares of Cencora, Inc. (NYSE:COR - Free Report) by 7.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,311 shares of the company's stock after purchasing an additional 2,174 shares during the period. Cencora makes up approximately 1.4% of AdvisorShares Investments LLC's portfolio, making the stock its 17th largest position. AdvisorShares Investments LLC's holdings in Cencora were worth $7,035,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Norges Bank acquired a new position in Cencora during the fourth quarter worth about $478,309,000. Raymond James Financial Inc. acquired a new stake in shares of Cencora in the 4th quarter worth approximately $322,460,000. Invesco Ltd. increased its stake in Cencora by 20.4% in the 4th quarter. Invesco Ltd. now owns 3,243,531 shares of the company's stock valued at $728,757,000 after purchasing an additional 550,246 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Cencora by 67.7% in the fourth quarter. The Manufacturers Life Insurance Company now owns 844,179 shares of the company's stock valued at $189,670,000 after purchasing an additional 340,862 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Cencora by 140.6% in the fourth quarter. Renaissance Technologies LLC now owns 550,700 shares of the company's stock valued at $123,731,000 after buying an additional 321,800 shares in the last quarter. 97.52% of the stock is owned by institutional investors and hedge funds.

Cencora Stock Performance

COR traded up $1.74 on Friday, hitting $292.17. 1,046,574 shares of the company's stock were exchanged, compared to its average volume of 1,508,616. 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 stock has a fifty day moving average of $272.65 and a two-hundred day moving average of $251.53. Cencora, Inc. has a twelve month low of $214.77 and a twelve month high of $296.65. The firm has a market cap of $56.66 billion, a PE ratio of 41.56, a P/E/G ratio of 1.31 and a beta of 0.55.

Cencora (NYSE:COR - Get Free Report) last released its quarterly earnings data 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%. On average, research analysts anticipate that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a $0.55 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.20 dividend on an annualized basis and a yield of 0.75%. Cencora's dividend payout ratio is presently 31.29%.

Insiders Place Their Bets

In related news, Chairman Steven H. Collis sold 14,578 shares of Cencora stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $269.51, for a total transaction of $3,928,916.78. Following the transaction, the chairman now directly owns 317,913 shares of the company's stock, valued at $85,680,732.63. The trade was a 4.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert P. Mauch sold 4,969 shares of the company's stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $289.33, for a total transaction of $1,437,680.77. Following the completion of the sale, the chief executive officer now directly owns 47,582 shares of the company's stock, valued at $13,766,900.06. The trade was a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,223 shares of company stock worth $13,580,967. 10.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports 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 report on Friday, January 24th. Bank of America upped their price objective on Cencora from $270.00 to $285.00 and gave the company a "neutral" rating in a research report on Friday, April 11th. UBS Group lifted their price objective on Cencora from $298.00 to $335.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Wells Fargo & Company lifted their price target on shares of Cencora from $251.00 to $274.00 and gave the company an "equal weight" rating in a report on Friday, March 14th. Finally, StockNews.com upgraded Cencora from a "hold" rating to a "buy" rating in a report on Wednesday, March 12th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Cencora presently has an average rating of "Moderate Buy" and an average target price of $290.00.

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.