Connor Clark & Lunn Investment Management Ltd. Has $6.02 Million Stock Position in Cencora, Inc. (NYSE:COR)

Key Points

• Connor Clark & Lunn Investment Management Ltd. significantly increased its stake in Cencora, Inc. by 115.4%, now holding 21,631 shares valued at approximately $6.02 million.
• Insider trading activity includes Cencora's Chairman selling 14,579 shares and CEO selling 4,968 shares, resulting in decreases of 4.47% and 10.50% in their respective positions.
• A number of analysts have revised their target prices for Cencora, with UBS Group raising its target from $298.00 to $335.00, indicating a generally positive outlook among equity research reports.

Connor Clark & Lunn Investment Management Ltd. raised its stake in Cencora, Inc. (NYSE:COR - Free Report) by 115.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,631 shares of the company's stock after buying an additional 11,588 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in Cencora were worth $6,015,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC boosted its position in Cencora by 4.5% in the first quarter. Exchange Traded Concepts LLC now owns 1,104 shares of the company's stock valued at $307,000 after buying an additional 48 shares in the last quarter. Dynamic Advisor Solutions LLC boosted its position in Cencora by 6.4% in the first quarter. Dynamic Advisor Solutions LLC now owns 1,535 shares of the company's stock valued at $427,000 after buying an additional 93 shares in the last quarter. GAMMA Investing LLC boosted its position in Cencora by 57.0% in the first quarter. GAMMA Investing LLC now owns 5,748 shares of the company's stock valued at $1,598,000 after buying an additional 2,087 shares in the last quarter. Golden State Wealth Management LLC boosted its position in Cencora by 157.6% in the first quarter. Golden State Wealth Management LLC now owns 170 shares of the company's stock valued at $47,000 after buying an additional 104 shares in the last quarter. Finally, Leith Wheeler Investment Counsel Ltd. lifted its holdings in shares of Cencora by 5.2% during the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 82,952 shares of the company's stock worth $18,638,000 after purchasing an additional 4,126 shares during the period. Institutional investors and hedge funds own 97.52% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. 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 report on Monday, June 30th. Morgan Stanley set a $330.00 price target on shares of Cencora and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. Citigroup lifted their price target on shares of Cencora from $330.00 to $355.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Wells Fargo & Company set a $354.00 price target on shares of Cencora and gave the stock an "overweight" rating in a report on Wednesday. Finally, UBS Group lifted their price target on shares of Cencora from $298.00 to $335.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $311.25.

Insider Buying and Selling at Cencora

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

Cencora Trading Down 0.5%

NYSE COR traded down $1.59 during mid-day trading on Friday, reaching $293.28. 1,109,030 shares of the stock were exchanged, compared to its average volume of 1,230,909. Cencora, Inc. has a one year low of $218.65 and a one year high of $309.35. The company has a debt-to-equity ratio of 3.64, a current ratio of 0.90 and a quick ratio of 0.53. The stock has a market cap of $56.86 billion, a P/E ratio of 30.17, a P/E/G ratio of 1.39 and a beta of 0.58. The stock has a 50 day simple moving average of $292.70 and a 200-day simple moving average of $279.16.

Cencora (NYSE:COR - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $4.00 earnings per share for the quarter, beating the consensus estimate of $3.79 by $0.21. Cencora had a net margin of 0.60% and a return on equity of 267.36%. The firm had revenue of $80.66 billion during the quarter, compared to the consensus estimate of $80.34 billion. During the same period in the previous year, the firm posted $3.34 earnings per share. The business's revenue was up 8.7% compared to the same quarter last year. On average, analysts anticipate that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Friday, August 15th. Cencora's payout ratio is 22.63%.

Cencora Company 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.