Cencora, Inc. $COR Shares Bought by Dark Forest Capital Management LP

Key Points

• Dark Forest Capital Management LP significantly increased its stake in Cencora, Inc. by 870.7% in Q1, acquiring a total of 20,220 shares valued at approximately $5.6 million.
• Insider transactions revealed that CEO Robert P. Mauch and Chairman Steven H. Collis sold significant amounts of stock, decreasing their positions by 10.5% and 4.47%, respectively.
• Analysts remain optimistic about Cencora, raising price targets with an average consensus target of $311.25, reflecting a strong "Moderate Buy" sentiment.

Dark Forest Capital Management LP lifted its position in Cencora, Inc. (NYSE:COR - Free Report) by 870.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,220 shares of the company's stock after acquiring an additional 18,137 shares during the quarter. Dark Forest Capital Management LP's holdings in Cencora were worth $5,623,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in COR. Cornerstone Planning Group LLC raised its holdings in shares of Cencora by 106.7% in the 1st quarter. Cornerstone Planning Group LLC now owns 93 shares of the company's stock valued at $26,000 after purchasing an additional 48 shares in the last quarter. Hoey Investments Inc. purchased a new stake in Cencora during the 1st quarter worth approximately $28,000. Costello Asset Management INC acquired a new stake in Cencora during the 1st quarter worth about $28,000. Banque Transatlantique SA acquired a new stake in Cencora during the 4th quarter worth about $29,000. Finally, Vermillion Wealth Management Inc. acquired a new stake in Cencora during the 4th quarter valued at approximately $38,000. Hedge funds and other institutional investors own 97.52% of the company's stock.

Cencora Stock Down 0.1%

Shares of COR traded down $0.18 during mid-day trading on Friday, hitting $292.52. 1,012,863 shares of the company's stock were exchanged, compared to its average volume of 1,275,659. The stock's 50-day moving average is $292.84 and its 200-day moving average is $283.61. The company has a market cap of $56.71 billion, a price-to-earnings ratio of 30.09, a P/E/G ratio of 1.39 and a beta of 0.62. Cencora, Inc. has a fifty-two week low of $218.65 and a fifty-two week high of $309.35. The company has a debt-to-equity ratio of 3.64, a quick ratio of 0.53 and a current ratio of 0.90.

Cencora (NYSE:COR - Get Free Report) last issued its 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. The firm had revenue of $80.66 billion for the quarter, compared to analysts' expectations of $80.34 billion. Cencora had a net margin of 0.60% and a return on equity of 267.36%. The firm's revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the company earned $3.34 earnings per share. On average, sell-side analysts anticipate that Cencora, Inc. will post 15.37 earnings per share for the current fiscal 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 paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Friday, August 15th. Cencora's payout ratio is 22.63%.

Insider Buying and Selling at Cencora

In other news, CEO Robert P. Mauch sold 4,968 shares of Cencora stock in a transaction on Friday, July 18th. The stock was sold at an average price of $294.11, for a total transaction of $1,461,138.48. Following the completion of the transaction, the chief executive officer owned 42,351 shares of the company's stock, valued at $12,455,852.61. The trade was a 10.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Steven H. Collis sold 14,579 shares of the business's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $292.62, for a total transaction of $4,266,106.98. Following the completion of the transaction, the chairman directly owned 311,913 shares of the company's stock, valued at $91,271,982.06. The trade was a 4.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,125 shares of company stock valued at $9,993,789 in the last ninety days. Corporate insiders own 10.80% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on COR shares. Jefferies Financial Group boosted their target price on shares of Cencora from $275.00 to $300.00 and gave the company a "hold" rating in a research note on Monday, June 30th. Wells Fargo & Company upped their price objective 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. Finally, Morgan Stanley set a $330.00 target price on shares of Cencora and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. Nine equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $311.25.

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.