Farallon Capital Management LLC Trims Stake in Cencora, Inc. (NYSE:COR)

Farallon Capital Management LLC decreased its position in Cencora, Inc. (NYSE:COR - Free Report) by 99.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,000 shares of the company's stock after selling 234,200 shares during the period. Farallon Capital Management LLC's holdings in Cencora were worth $225,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in COR. Whittier Trust Co. lifted its stake in shares of Cencora by 0.6% in the 4th quarter. Whittier Trust Co. now owns 7,856 shares of the company's stock valued at $1,765,000 after acquiring an additional 44 shares during the last quarter. Shepherd Financial Partners LLC increased its holdings in Cencora by 0.9% in 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 period. WASHINGTON TRUST Co increased its holdings in Cencora by 37.7% in the fourth quarter. WASHINGTON TRUST Co now owns 168 shares of the company's stock valued at $38,000 after purchasing an additional 46 shares during the period. JFS Wealth Advisors LLC increased its holdings in 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 purchasing an additional 46 shares during the period. Finally, Cullen Frost Bankers Inc. increased its holdings in Cencora by 1.1% in the fourth quarter. Cullen Frost Bankers Inc. now owns 4,463 shares of the company's stock valued at $1,003,000 after purchasing an additional 47 shares during the period. Hedge funds and other institutional investors own 97.52% of the company's stock.

Insiders Place Their Bets

In other Cencora news, EVP Silvana Battaglia sold 5,000 shares of Cencora stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $242.24, for a total transaction of $1,211,200.00. Following the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert P. Mauch sold 4,969 shares of the firm's stock in a transaction that occurred 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 sale, the chief executive officer now owns 47,582 shares of the company's stock, valued at approximately $13,766,900.06. The trade was 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 valued at $13,580,967 in the last 90 days. 10.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on COR shares. Morgan Stanley set a $288.00 price objective on Cencora in a report on Tuesday, April 15th. UBS Group increased their price objective on Cencora from $298.00 to $335.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Robert W. Baird increased their price objective on Cencora from $314.00 to $350.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Citigroup increased their price objective on Cencora from $330.00 to $355.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Finally, JPMorgan Chase & Co. increased their price objective on Cencora from $289.00 to $301.00 and gave the company an "overweight" rating in a report on Friday, January 24th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $301.18.

Cencora Stock Up 0.3%

Shares of COR traded up $0.88 during trading hours on Wednesday, hitting $279.88. The stock had a trading volume of 714,928 shares, compared to its average volume of 1,535,881. The company has a debt-to-equity ratio of 16.40, a current ratio of 0.92 and a quick ratio of 0.54. The firm has a 50 day simple moving average of $277.02 and a 200-day simple moving average of $253.87. The firm has a market capitalization of $54.27 billion, a P/E ratio of 39.81, a price-to-earnings-growth ratio of 1.31 and a beta of 0.60. Cencora, Inc. has a 1-year low of $214.77 and a 1-year high of $309.35.

Cencora (NYSE:COR - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $4.42 earnings per share for the quarter, beating the consensus estimate of $4.07 by $0.35. Cencora had a net margin of 0.46% and a return on equity of 328.62%. The business had revenue of $75.50 billion for the quarter, compared to analysts' expectations of $75.41 billion. During the same quarter last year, the firm earned $3.80 EPS. The firm's revenue for the quarter was up 10.3% compared to the same quarter last year. Sell-side analysts predict that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Friday, May 16th will be given a $0.55 dividend. The ex-dividend date is Friday, May 16th. This represents a $2.20 annualized dividend and a yield of 0.79%. Cencora's payout ratio is 25.52%.

Cencora 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.