Alpine Global Management LLC Acquires New Shares in Cencora, Inc. (NYSE:COR)

Alpine Global Management LLC purchased a new position in shares of Cencora, Inc. (NYSE:COR - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,129 shares of the company's stock, valued at approximately $254,000.

Other hedge funds have also recently bought and sold shares of the company. Hickory Asset Management Inc. purchased a new position in Cencora in the 4th quarter valued at about $572,000. Sylvest Advisors LLC purchased a new position in Cencora in the 4th quarter valued at about $1,105,000. Vontobel Holding Ltd. lifted its holdings in shares of Cencora by 46.9% during the 4th quarter. Vontobel Holding Ltd. now owns 6,245 shares of the company's stock worth $1,403,000 after acquiring an additional 1,995 shares during the period. Milestone Asset Management LLC lifted its holdings in shares of Cencora by 430.2% during the 4th quarter. Milestone Asset Management LLC now owns 5,461 shares of the company's stock worth $1,227,000 after acquiring an additional 4,431 shares during the period. Finally, Portfolio Design Labs LLC lifted its holdings in shares of Cencora by 76.9% during the 4th quarter. Portfolio Design Labs LLC now owns 11,032 shares of the company's stock worth $2,479,000 after acquiring an additional 4,794 shares during the period. 97.52% of the stock is owned by hedge funds and other institutional investors.

Cencora Stock Performance

COR stock traded up $0.87 during mid-day trading on Tuesday, reaching $293.22. The company had a trading volume of 1,241,409 shares, compared to its average volume of 1,545,066. The company has a quick ratio of 0.54, a current ratio of 0.92 and a debt-to-equity ratio of 16.40. The stock has a market capitalization of $56.83 billion, a P/E ratio of 41.71, a P/E/G ratio of 1.31 and a beta of 0.60. Cencora, Inc. has a one year low of $214.77 and a one year high of $309.35. The stock's 50-day simple moving average is $282.95 and its two-hundred day simple moving average is $257.50.

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

Cencora Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Friday, May 16th will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend is Friday, May 16th. Cencora's payout ratio is currently 25.52%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on COR. Morgan Stanley set a $288.00 price objective on shares of Cencora in a report on Tuesday, April 15th. Citigroup increased their target price on shares of Cencora from $330.00 to $355.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. UBS Group increased their price objective on shares of Cencora from $298.00 to $335.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Wall Street Zen raised shares of Cencora from a "hold" rating to a "buy" rating in a research report on Wednesday, March 12th. Finally, Robert W. Baird increased their price objective on shares of Cencora from $314.00 to $350.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $301.18.

Insider Buying and Selling

In other news, Chairman Steven H. Collis sold 14,579 shares of Cencora stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $281.81, for a total transaction of $4,108,507.99. Following the completion of the sale, the chairman now directly owns 315,913 shares in the company, valued at $89,027,442.53. The trade was a 4.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert P. Mauch sold 4,969 shares of Cencora stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $289.33, for a total value 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. This represents a 9.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 45,223 shares of company stock valued at $12,369,767 over the last three months. Company 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.