Cencora, Inc. $COR Shares Sold by Kornitzer Capital Management Inc. KS

Key Points

• Kornitzer Capital Management cut its stake in Cencora by 31.2% in Q4, selling 13,935 shares and retaining 30,660 shares valued at $10,355,000.
• Wall Street consensus is a Moderate Buy with an average price target of $398.17 (12 Buys, 3 Holds), implying considerable upside from the recent ~$304 share price.
• Cencora beat EPS estimates (reported $4.08 vs. $4.04 expected) while revenue was slightly below consensus, and it pays a quarterly dividend of $0.60 (annualized $2.40, yield ~0.8%).

Kornitzer Capital Management Inc. KS decreased its holdings in Cencora, Inc. (NYSE:COR - Free Report) by 31.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,660 shares of the company's stock after selling 13,935 shares during the period. Kornitzer Capital Management Inc. KS's holdings in Cencora were worth $10,355,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in Cencora by 13.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 48,270 shares of the company's stock worth $15,086,000 after purchasing an additional 5,543 shares during the last quarter. AustralianSuper Pty Ltd acquired a new position in Cencora during the third quarter worth $26,191,000. Mediolanum International Funds Ltd raised its holdings in Cencora by 133.0% during the third quarter. Mediolanum International Funds Ltd now owns 56,293 shares of the company's stock worth $17,342,000 after purchasing an additional 32,138 shares during the last quarter. Chilton Investment Co. Inc. acquired a new position in Cencora during the third quarter worth $459,000. Finally, Advisors Asset Management Inc. raised its holdings in Cencora by 40.3% during the third quarter. Advisors Asset Management Inc. now owns 17,302 shares of the company's stock worth $5,407,000 after purchasing an additional 4,973 shares during the last quarter. Institutional investors and hedge funds own 97.52% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on COR shares. Morgan Stanley set a $380.00 price objective on Cencora in a report on Tuesday, March 17th. Barclays lifted their price objective on Cencora from $400.00 to $425.00 and gave the stock an "overweight" rating in a report on Friday, February 13th. Bank of America dropped their price target on Cencora from $380.00 to $360.00 and set a "neutral" rating for the company in a research report on Monday, January 5th. Robert W. Baird set a $415.00 price target on Cencora in a research report on Tuesday, January 13th. Finally, Evercore set a $360.00 price target on Cencora in a research report on Wednesday, April 8th. Twelve equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Cencora currently has an average rating of "Moderate Buy" and an average price target of $398.17.

Cencora Stock Performance

Cencora stock opened at $304.18 on Friday. The company has a debt-to-equity ratio of 3.62, a quick ratio of 0.51 and a current ratio of 0.92. The stock has a fifty day moving average of $333.36 and a two-hundred day moving average of $342.95. The company has a market capitalization of $59.17 billion, a price-to-earnings ratio of 36.56, a PEG ratio of 1.44 and a beta of 0.65. Cencora, Inc. has a fifty-two week low of $271.00 and a fifty-two week high of $377.54.

Cencora (NYSE:COR - Get Free Report) last released its quarterly earnings results on Wednesday, February 4th. The company reported $4.08 earnings per share for the quarter, topping the consensus estimate of $4.04 by $0.04. The company had revenue of $85.93 billion during the quarter, compared to the consensus estimate of $86.12 billion. Cencora had a return on equity of 176.54% and a net margin of 0.50%.Cencora's revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the business posted $3.73 earnings per share. On average, analysts anticipate that Cencora, Inc. will post 17.56 EPS for the current fiscal year.

Cencora Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Friday, February 13th were given a $0.60 dividend. The ex-dividend date of this dividend was Friday, February 13th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.8%. Cencora's payout ratio is currently 28.85%.

Cencora Company Profile

Cencora NYSE: COR is a global healthcare services and pharmaceutical distribution company that provides end-to-end solutions across the pharmaceutical supply chain. The company's core activities include wholesale drug distribution, specialty drug distribution, and the operation of specialty pharmacies, complemented by logistics, cold-chain management and other fulfillment services designed to support complex and temperature-sensitive therapies.

Beyond physical distribution, Cencora offers a range of commercial and patient-focused services for pharmaceutical manufacturers and healthcare providers.

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