Capital Insight Partners LLC Acquires New Shares in Cencora, Inc. (NYSE:COR)

Capital Insight Partners LLC purchased a new stake in shares of Cencora, Inc. (NYSE:COR - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 3,460 shares of the company's stock, valued at approximately $918,000.

A number of other hedge funds also recently made changes to their positions in the business. Cornerstone Planning Group LLC raised its holdings 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 in the last quarter. Hoey Investments Inc. bought a new stake in Cencora during the first quarter worth approximately $28,000. Banque Transatlantique SA bought a new stake in Cencora during the fourth quarter worth approximately $29,000. SBI Securities Co. Ltd. bought a new stake in Cencora during the fourth quarter worth approximately $30,000. Finally, Vermillion Wealth Management Inc. bought a new stake in Cencora during the fourth quarter worth approximately $38,000. Institutional investors own 97.52% of the company's stock.

Cencora Trading Down 0.8%

NYSE COR traded down $2.25 on Friday, hitting $295.07. 970,795 shares of the stock were exchanged, compared to its average volume of 1,512,862. Cencora, Inc. has a 52-week low of $218.65 and a 52-week high of $309.35. The company has a debt-to-equity ratio of 6.01, a current ratio of 0.87 and a quick ratio of 0.52. The company has a market capitalization of $57.19 billion, a price-to-earnings ratio of 34.23, a P/E/G ratio of 1.46 and a beta of 0.57. The company's 50-day moving average price is $291.91 and its two-hundred day moving average price is $270.29.

Cencora (NYSE:COR - Get Free Report) last posted its quarterly earnings data 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. Cencora had a net margin of 0.55% and a return on equity of 344.71%. The firm had revenue of $75.50 billion for the quarter, compared to analysts' expectations of $75.41 billion. During the same period in the previous year, the company posted $3.80 EPS. The company's quarterly revenue was up 10.3% compared to the same quarter last year. Research analysts predict that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Announces Dividend

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

Insider Buying and Selling at Cencora

In related news, Chairman Steven H. Collis sold 14,579 shares of Cencora stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $292.62, for a total value of $4,266,106.98. Following the completion of the sale, the chairman owned 311,913 shares of the company's stock, valued at approximately $91,271,982.06. The trade was a 4.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert P. Mauch sold 4,969 shares of Cencora stock in a transaction on Monday, April 21st. The shares were sold at an average price of $289.33, for a total transaction of $1,437,680.77. Following the completion of the sale, the chief executive officer directly owned 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. Over the last 90 days, insiders have sold 34,127 shares of company stock worth $9,812,296. 10.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on COR. Robert W. Baird lifted their price target on shares of Cencora from $314.00 to $350.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Citigroup lifted their price target 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. Bank of America lifted 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. Morgan Stanley set a $288.00 price target on shares of Cencora in a research report on Tuesday, April 15th. Finally, Jefferies Financial Group lifted their price target on shares of Cencora from $275.00 to $300.00 and gave the stock a "hold" rating in a research report on Monday, June 30th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $306.33.

About Cencora

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.