CTC Alternative Strategies Ltd. Invests $205,000 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 Form 13F filing with the SEC. The fund purchased 914 shares of the company's stock, valued at approximately $205,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Price T Rowe Associates Inc. MD grew its holdings in shares of Cencora by 0.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,859,452 shares of the company's stock valued at $1,990,542,000 after purchasing an additional 78,066 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Cencora by 62.3% in the fourth quarter. Bank of America Corp DE now owns 5,193,807 shares of the company's stock valued at $1,166,944,000 after purchasing an additional 1,994,256 shares in the last quarter. Boston Partners grew its holdings in shares of Cencora by 2.6% in the fourth quarter. Boston Partners now owns 5,007,100 shares of the company's stock valued at $1,128,058,000 after purchasing an additional 125,611 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Cencora by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 4,326,064 shares of the company's stock valued at $969,471,000 after purchasing an additional 130,213 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Cencora by 20.4% in the fourth quarter. Invesco Ltd. now owns 3,243,531 shares of the company's stock valued at $728,757,000 after purchasing an additional 550,246 shares in the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Wall Street Zen upgraded shares of Cencora from a "hold" rating to a "buy" rating in a report on Wednesday, March 12th. Wells Fargo & Company boosted their price target on shares of Cencora from $251.00 to $274.00 and gave the stock an "equal weight" rating in a report on Friday, March 14th. Evercore ISI boosted their price target on shares of Cencora from $270.00 to $280.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. Robert W. Baird boosted their price target on shares of Cencora from $314.00 to $350.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Finally, Morgan Stanley set a $288.00 price target on shares of Cencora in a report on Tuesday, April 15th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $301.18.

Cencora Stock Down 1.4%

Shares of Cencora stock traded down $4.06 during trading hours on Wednesday, hitting $289.33. The company had a trading volume of 983,285 shares, compared to its average volume of 1,542,828. The company's 50-day moving average is $283.45 and its two-hundred day moving average is $257.75. Cencora, Inc. has a twelve month low of $214.77 and a twelve month high of $309.35. The company has a debt-to-equity ratio of 16.40, a current ratio of 0.92 and a quick ratio of 0.54. The company has a market cap of $56.08 billion, a P/E ratio of 41.16, a price-to-earnings-growth ratio of 1.31 and a beta of 0.60.

Cencora (NYSE:COR - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $4.42 EPS 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 firm had revenue of $75.50 billion during the quarter, compared to the consensus estimate of $75.41 billion. During the same quarter in the prior year, the firm earned $3.80 EPS. Cencora's revenue for the quarter was up 10.3% on a year-over-year basis. Analysts anticipate that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Friday, May 16th will be given a $0.55 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.20 annualized dividend and a yield of 0.76%. Cencora's dividend payout ratio (DPR) is 25.52%.

Insider Activity at Cencora

In other Cencora news, CEO Robert P. Mauch sold 4,970 shares of the company's stock in a transaction on 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 transaction, the chief executive officer now owns 51,070 shares in the company, valued at approximately $13,022,850. This represents a 8.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Steven H. Collis sold 14,578 shares of the company's stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $269.51, for a total transaction of $3,928,916.78. Following the transaction, the chairman now owns 317,913 shares of the company's stock, valued at approximately $85,680,732.63. The trade was a 4.38% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 45,223 shares of company stock worth $12,369,767 in the last 90 days. 10.80% of the stock is owned by insiders.

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.