Aurdan Capital Management LLC Decreases Stock Position in Cencora, Inc. (NYSE:COR)

Aurdan Capital Management LLC trimmed its stake in shares of Cencora, Inc. (NYSE:COR - Free Report) by 15.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,712 shares of the company's stock after selling 5,806 shares during the quarter. Cencora makes up 3.3% of Aurdan Capital Management LLC's holdings, making the stock its 9th biggest holding. Aurdan Capital Management LLC's holdings in Cencora were worth $8,819,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in COR. Cornerstone Planning Group LLC grew its stake in Cencora by 106.7% during the first quarter. Cornerstone Planning Group LLC now owns 93 shares of the company's stock worth $26,000 after purchasing an additional 48 shares during the period. Hoey Investments Inc. acquired a new stake in Cencora during the first quarter worth approximately $28,000. Banque Transatlantique SA acquired a new stake in Cencora during the fourth quarter worth approximately $29,000. SBI Securities Co. Ltd. acquired a new stake in Cencora during the fourth quarter worth approximately $30,000. Finally, Vermillion Wealth Management Inc. acquired a new stake in Cencora in the fourth quarter valued at approximately $38,000. 97.52% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

COR has been the subject of several recent research reports. Jefferies Financial Group boosted their price objective on Cencora from $275.00 to $300.00 and gave the company a "hold" rating in a report on Monday, June 30th. Wells Fargo & Company upgraded Cencora from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $274.00 to $337.00 in a report on Tuesday, June 3rd. Morgan Stanley set a $288.00 price objective on Cencora in a report on Tuesday, April 15th. Robert W. Baird boosted 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. Finally, Bank of America boosted their price objective on Cencora from $270.00 to $285.00 and gave the company a "neutral" rating in a report on Friday, April 11th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $306.33.

Cencora Stock Down 0.8%

Shares of NYSE:COR traded down $2.25 during mid-day trading on Friday, hitting $295.07. 970,795 shares of the company traded hands, compared to its average volume of 1,512,862. The stock has a market cap of $57.19 billion, a P/E ratio of 34.23, a P/E/G ratio of 1.46 and a beta of 0.57. The company has a current ratio of 0.87, a quick ratio of 0.52 and a debt-to-equity ratio of 6.01. Cencora, Inc. has a 12-month low of $218.65 and a 12-month high of $309.35. The stock has a 50-day moving average price of $291.91 and a two-hundred day moving average price of $270.29.

Cencora (NYSE:COR - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $4.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.07 by $0.35. The company had revenue of $75.50 billion for the quarter, compared to analysts' expectations of $75.41 billion. Cencora had a return on equity of 344.71% and a net margin of 0.55%. Cencora's quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.80 earnings per share. On average, equities research analysts forecast that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Dividend Announcement

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

Insiders Place Their Bets

In related news, Chairman Steven H. Collis sold 14,579 shares of Cencora stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $292.62, for a total transaction of $4,266,106.98. Following the sale, the chairman directly owned 311,913 shares in the company, valued at approximately $91,271,982.06. This trade represents a 4.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 value of $1,437,680.77. Following the sale, the chief executive officer owned 47,582 shares in the company, valued at $13,766,900.06. This trade represents a 9.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,127 shares of company stock worth $9,812,296 over the last quarter. 10.80% of the stock is currently owned by corporate insiders.

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.