Pinebridge Investments L.P. Acquires 17,041 Shares of Cencora, Inc. (NYSE:COR)

Pinebridge Investments L.P. grew its holdings in shares of Cencora, Inc. (NYSE:COR - Free Report) by 11.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 166,107 shares of the company's stock after acquiring an additional 17,041 shares during the period. Pinebridge Investments L.P. owned about 0.09% of Cencora worth $37,321,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Whittier Trust Co. boosted its position in shares of Cencora by 0.6% during the 4th quarter. Whittier Trust Co. now owns 7,856 shares of the company's stock valued at $1,765,000 after purchasing an additional 44 shares in the last quarter. Shepherd Financial Partners LLC lifted its stake in Cencora by 0.9% during the fourth 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 during the last quarter. WASHINGTON TRUST Co grew its position in 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 during the last quarter. JFS Wealth Advisors LLC increased its holdings in shares of Cencora by 63.0% in the fourth quarter. JFS Wealth Advisors LLC now owns 119 shares of the company's stock valued at $27,000 after buying an additional 46 shares in the last quarter. Finally, Cullen Frost Bankers Inc. lifted its position in shares of Cencora by 1.1% during the 4th quarter. Cullen Frost Bankers Inc. now owns 4,463 shares of the company's stock valued at $1,003,000 after acquiring an additional 47 shares during the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Cencora Stock Up 0.2 %

Shares of NYSE:COR traded up $0.55 during midday trading on Monday, hitting $286.45. 311,730 shares of the stock were exchanged, compared to its average volume of 1,518,127. The business's fifty day simple moving average is $268.09 and its two-hundred day simple moving average is $249.54. 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 52-week low of $214.77 and a 52-week high of $296.65. The company has a market capitalization of $55.55 billion, a PE ratio of 40.79, a P/E/G ratio of 1.31 and a beta of 0.55.

Cencora (NYSE:COR - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $3.73 EPS for the quarter, beating the consensus estimate of $3.50 by $0.23. Cencora had a return on equity of 328.62% and a net margin of 0.46%. As a group, research analysts predict that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders 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 annualized dividend and a yield of 0.77%. Cencora's dividend payout ratio (DPR) is currently 31.29%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their target price on Cencora from $289.00 to $301.00 and gave the stock an "overweight" rating in a report on Friday, January 24th. StockNews.com raised Cencora from a "hold" rating to a "buy" rating in a research note on Wednesday, March 12th. Bank of America upped their price objective on shares of Cencora from $270.00 to $285.00 and gave the company a "neutral" rating in a research note on Friday, April 11th. Morgan Stanley set a $288.00 target price on shares of Cencora in a research report on Tuesday, April 15th. Finally, Evercore ISI upped their price target 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. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $284.55.

Insider Buying and Selling at Cencora

In related news, CAO Lazarus Krikorian sold 2,000 shares of the company's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $260.06, for a total transaction of $520,120.00. Following the completion of the sale, the chief accounting officer now directly owns 20,154 shares of the company's stock, valued at approximately $5,241,249.24. This represents a 9.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert P. Mauch sold 4,969 shares of Cencora stock in a transaction on Monday, April 21st. The stock was sold at an average price of $289.33, for a total transaction of $1,437,680.77. Following the completion of the transaction, the chief executive officer now owns 47,582 shares in the company, valued at $13,766,900.06. This trade represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 50,223 shares of company stock worth $13,580,967 over the last three months. Corporate insiders own 10.80% of the company's stock.

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.