Alpine Global Management LLC Buys Shares of 1,129 Cencora, Inc. (NYSE:COR)

Alpine Global Management LLC acquired a new stake in shares of Cencora, Inc. (NYSE:COR - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 1,129 shares of the company's stock, valued at approximately $254,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Whittier Trust Co. raised its holdings in shares of Cencora by 0.6% in the fourth quarter. Whittier Trust Co. now owns 7,856 shares of the company's stock worth $1,765,000 after buying an additional 44 shares during the last quarter. Shepherd Financial Partners LLC raised its stake in Cencora by 0.9% in the 4th quarter. Shepherd Financial Partners LLC now owns 5,441 shares of the company's stock worth $1,223,000 after acquiring an additional 46 shares during the last quarter. WASHINGTON TRUST Co lifted its position in Cencora by 37.7% during the 4th quarter. WASHINGTON TRUST Co now owns 168 shares of the company's stock worth $38,000 after acquiring an additional 46 shares during the period. JFS Wealth Advisors LLC grew its stake in Cencora by 63.0% during the 4th 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 last quarter. Finally, Cullen Frost Bankers Inc. grew its stake in 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 purchasing an additional 47 shares during the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Elizabeth S. Campbell sold 4,127 shares of the company's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $268.28, for a total value of $1,107,191.56. Following the completion of the transaction, the executive vice president now directly owns 14,665 shares of the company's stock, valued at $3,934,326.20. This represents a 21.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Steven H. Collis sold 14,579 shares of the firm's stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $281.81, for a total value of $4,108,507.99. Following the transaction, the chairman now directly owns 315,913 shares in the company, valued at approximately $89,027,442.53. The trade was a 4.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 45,223 shares of company stock worth $12,369,767 over the last three months. Company insiders own 10.80% of the company's stock.

Cencora Price Performance

COR traded down $1.94 during trading on Wednesday, reaching $291.46. The company's stock had a trading volume of 269,898 shares, compared to its average volume of 1,540,025. The company has a market cap of $56.49 billion, a price-to-earnings ratio of 41.45, a PEG ratio of 1.31 and a beta of 0.60. The firm has a fifty day simple moving average of $283.45 and a two-hundred day simple moving average of $257.75. Cencora, Inc. has a 1 year low of $214.77 and a 1 year high of $309.35. The company has a quick ratio of 0.54, a current ratio of 0.92 and a debt-to-equity ratio of 16.40.

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

Cencora Dividend Announcement

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

Analyst Upgrades and Downgrades

COR has been the subject of a number of research reports. Morgan Stanley set a $288.00 target price on Cencora in a report on Tuesday, April 15th. Bank of America raised their price target on shares of Cencora from $270.00 to $285.00 and gave the stock a "neutral" rating in a research report on Friday, April 11th. Citigroup lifted their price objective on shares of Cencora from $330.00 to $355.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Wall Street Zen upgraded shares of Cencora from a "hold" rating to a "buy" rating in a research note on Wednesday, March 12th. Finally, Robert W. Baird raised their target price on shares of Cencora from $314.00 to $350.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $301.18.

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.