Burgundy Asset Management Ltd. Has $179.13 Million Stock Position in Cencora, Inc. (NYSE:COR)

Burgundy Asset Management Ltd. reduced its stake in Cencora, Inc. (NYSE:COR - Free Report) by 9.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 797,281 shares of the company's stock after selling 78,507 shares during the period. Cencora makes up 1.8% of Burgundy Asset Management Ltd.'s portfolio, making the stock its 16th largest holding. Burgundy Asset Management Ltd. owned approximately 0.41% of Cencora worth $179,133,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its holdings in Cencora by 0.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,859,452 shares of the company's stock valued at $1,990,542,000 after buying an additional 78,066 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Cencora by 62.3% in the 4th quarter. Bank of America Corp DE now owns 5,193,807 shares of the company's stock valued at $1,166,944,000 after acquiring an additional 1,994,256 shares during the period. Boston Partners increased its stake in Cencora by 2.6% during the 4th quarter. Boston Partners now owns 5,007,100 shares of the company's stock worth $1,128,058,000 after buying an additional 125,611 shares during the period. Geode Capital Management LLC increased its stake in Cencora by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 4,326,064 shares of the company's stock worth $969,471,000 after buying an additional 130,213 shares during the period. Finally, Invesco Ltd. increased its position in shares of Cencora by 20.4% in the 4th quarter. Invesco Ltd. now owns 3,243,531 shares of the company's stock valued at $728,757,000 after purchasing an additional 550,246 shares during the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Cencora Price Performance

Shares of COR traded up $0.87 during mid-day trading on Tuesday, hitting $293.22. The company's stock had a trading volume of 1,241,409 shares, compared to its average volume of 1,545,066. The firm has a 50-day moving average price of $282.95 and a 200 day moving average price of $257.50. The stock has a market capitalization of $56.83 billion, a price-to-earnings ratio of 41.71, a PEG ratio of 1.31 and a beta of 0.60. The company has a debt-to-equity ratio of 16.40, a current ratio of 0.92 and a quick ratio of 0.54. Cencora, Inc. has a fifty-two week low of $214.77 and a fifty-two week high of $309.35.

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

Cencora Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Friday, May 16th will be given 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 presently 25.52%.

Analysts Set New Price Targets

A number of research analysts have commented on COR shares. UBS Group lifted their price objective on shares of Cencora from $298.00 to $335.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Morgan Stanley set a $288.00 target price on shares of Cencora in a research report on Tuesday, April 15th. Wall Street Zen raised shares of Cencora from a "hold" rating to a "buy" rating in a report on Wednesday, March 12th. Bank of America increased their price target on shares of Cencora from $270.00 to $285.00 and gave the company a "neutral" rating in a research report on Friday, April 11th. Finally, Evercore ISI increased 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 equities research 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 stock currently has an average rating of "Moderate Buy" and a consensus target price of $301.18.

Insider Activity at Cencora

In other Cencora news, CEO Robert P. Mauch sold 4,969 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 47,582 shares of the company's stock, valued at $13,766,900.06. The trade was a 9.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Lazarus Krikorian sold 2,000 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was 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 $5,241,249.24. This represents a 9.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 45,223 shares of company stock valued at $12,369,767. Corporate insiders own 10.80% of the company's stock.

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.