CTC Alternative Strategies Ltd. Makes New Investment in Cencora, Inc. (NYSE:COR)

CTC Alternative Strategies Ltd. purchased a new stake in Cencora, Inc. (NYSE:COR - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 914 shares of the company's stock, valued at approximately $205,000.

A number of other hedge funds have also modified their holdings of the company. JFS Wealth Advisors LLC raised its holdings in Cencora by 63.0% during the 4th quarter. JFS Wealth Advisors LLC now owns 119 shares of the company's stock worth $27,000 after buying an additional 46 shares during the period. Banque Transatlantique SA acquired a new stake in Cencora during the 4th quarter worth approximately $29,000. SBI Securities Co. Ltd. acquired a new stake in Cencora during the 4th quarter worth approximately $30,000. Kentucky Trust Co acquired a new stake in Cencora during the 4th quarter worth approximately $33,000. Finally, WASHINGTON TRUST Co raised its holdings in Cencora by 37.7% during the 4th quarter. WASHINGTON TRUST Co now owns 168 shares of the company's stock worth $38,000 after buying an additional 46 shares during the period. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Cencora Stock Up 0.3%

Shares of NYSE:COR traded up $0.87 during midday trading on Tuesday, hitting $293.22. The stock had a trading volume of 1,241,488 shares, compared to its average volume of 1,545,066. Cencora, Inc. has a 12 month low of $214.77 and a 12 month high of $309.35. The company has a quick ratio of 0.54, a current ratio of 0.92 and a debt-to-equity ratio of 16.40. The business's 50-day simple moving average is $283.45 and its 200-day simple moving average is $257.75. The company has a market cap of $56.83 billion, a P/E ratio of 41.71, a PEG ratio of 1.31 and a beta of 0.60.

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, beating the consensus estimate of $4.07 by $0.35. Cencora had a net margin of 0.46% and a return on equity of 328.62%. The business had revenue of $75.50 billion during the quarter, compared to analysts' expectations of $75.41 billion. During the same period last year, the business earned $3.80 earnings per share. The firm's revenue was up 10.3% on a year-over-year basis. On average, sell-side analysts forecast that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Friday, May 16th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.20 annualized dividend and a dividend yield of 0.75%. Cencora's dividend payout ratio is presently 25.52%.

Analysts Set New Price Targets

Several analysts have commented on COR shares. Robert W. Baird raised their target price on shares of Cencora from $314.00 to $350.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Bank of America raised their target price on shares of Cencora from $270.00 to $285.00 and gave the stock a "neutral" rating in a report on Friday, April 11th. Citigroup raised their price target on shares of Cencora from $330.00 to $355.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Morgan Stanley set a $288.00 price target on shares of Cencora in a research note on Tuesday, April 15th. Finally, UBS Group raised their price target on shares of Cencora from $298.00 to $335.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $301.18.

Insider Activity

In other news, CEO Robert P. Mauch sold 4,970 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $255.00, for a total transaction of $1,267,350.00. Following the completion of the sale, the chief executive officer now owns 51,070 shares in the company, valued at approximately $13,022,850. This trade represents a 8.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Steven H. Collis sold 14,579 shares of Cencora stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $281.81, for a total transaction of $4,108,507.99. Following the sale, the chairman now directly owns 315,913 shares of the company's stock, valued at $89,027,442.53. The trade was a 4.41% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 45,223 shares of company stock valued at $12,369,767 over the last three months. Insiders own 10.80% of the company's stock.

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.