PDT Partners LLC Has $6.71 Million Position in Cencora, Inc. $COR

Key Points

• PDT Partners LLC increased its holdings in Cencora, Inc. by 131.3% in the first quarter, owning 24,132 shares now valued at $6.71 million as of its latest SEC filing.
• Cencora reported a quarterly earnings per share of $4.00, surpassing analyst expectations by $0.21, with revenue of $80.66 billion, up 8.7% year-over-year.
• The company announced a quarterly dividend of $0.55 per share, which will be paid to stockholders of record on August 15, indicating a dividend yield of 0.8%.

PDT Partners LLC raised its stake in shares of Cencora, Inc. (NYSE:COR - Free Report) by 131.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,132 shares of the company's stock after buying an additional 13,698 shares during the period. Cencora comprises about 0.5% of PDT Partners LLC's investment portfolio, making the stock its 26th biggest holding. PDT Partners LLC's holdings in Cencora were worth $6,711,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of COR. Cornerstone Planning Group LLC increased its position in Cencora by 106.7% in the 1st 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 last quarter. Hoey Investments Inc. acquired a new position in Cencora in the 1st quarter valued at $28,000. Costello Asset Management INC bought a new position in shares of Cencora in the first quarter worth about $28,000. Banque Transatlantique SA bought a new stake in Cencora during the 4th quarter valued at approximately $29,000. Finally, University of Texas Texas AM Investment Management Co. bought a new stake in shares of Cencora in the first quarter valued at approximately $39,000. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Robert P. Mauch sold 4,968 shares of Cencora stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $294.11, for a total transaction of $1,461,138.48. Following the sale, the chief executive officer directly owned 42,351 shares of the company's stock, valued at approximately $12,455,852.61. The trade was a 10.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Steven H. Collis sold 14,578 shares of the company's stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $292.67, for a total transaction of $4,266,543.26. Following the transaction, the chairman owned 309,913 shares of the company's stock, valued at $90,702,237.71. This trade represents a 4.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 34,125 shares of company stock valued at $9,993,789. 10.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on COR. Morgan Stanley set a $330.00 price objective on Cencora and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. Citigroup lifted their target price 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. Wells Fargo & Company upped their price target on shares of Cencora from $337.00 to $354.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 13th. Robert W. Baird lifted their target price on Cencora from $314.00 to $350.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Finally, Jefferies Financial Group boosted their price target on shares of Cencora from $275.00 to $300.00 and gave the stock a "hold" rating in a research note on Monday, June 30th. Nine research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Cencora presently has an average rating of "Moderate Buy" and a consensus target price of $311.25.

Cencora Stock Performance

Shares of NYSE:COR traded down $2.37 on Thursday, hitting $292.77. The company had a trading volume of 1,184,250 shares, compared to its average volume of 1,547,578. The stock has a 50 day moving average price of $292.99 and a 200 day moving average price of $283.26. The company has a current ratio of 0.90, a quick ratio of 0.53 and a debt-to-equity ratio of 3.64. The stock has a market cap of $56.76 billion, a price-to-earnings ratio of 30.12, a P/E/G ratio of 1.38 and a beta of 0.62. Cencora, Inc. has a 1-year low of $218.65 and a 1-year high of $309.35.

Cencora (NYSE:COR - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $4.00 earnings per share for the quarter, topping analysts' consensus estimates of $3.79 by $0.21. Cencora had a return on equity of 267.36% and a net margin of 0.60%.The company had revenue of $80.66 billion for the quarter, compared to analyst estimates of $80.34 billion. During the same quarter last year, the company earned $3.34 earnings per share. The firm's quarterly revenue was up 8.7% compared to the same quarter last year. Analysts expect that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Friday, August 15th. Cencora's dividend payout ratio is 22.63%.

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.