GAMMA Investing LLC Raises Position in Cencora, Inc. (NYSE:COR)

GAMMA Investing LLC raised its holdings in shares of Cencora, Inc. (NYSE:COR - Free Report) by 57.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,748 shares of the company's stock after purchasing an additional 2,087 shares during the quarter. GAMMA Investing LLC's holdings in Cencora were worth $1,598,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Westpac Banking Corp increased its holdings in Cencora by 13.5% during the 4th quarter. Westpac Banking Corp now owns 21,895 shares of the company's stock worth $4,919,000 after purchasing an additional 2,596 shares in the last quarter. Leith Wheeler Investment Counsel Ltd. lifted its holdings in shares of Cencora by 5.2% in the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 82,952 shares of the company's stock valued at $18,638,000 after purchasing an additional 4,126 shares in the last quarter. Sei Investments Co. boosted its position in shares of Cencora by 5.2% during the fourth quarter. Sei Investments Co. now owns 321,877 shares of the company's stock valued at $72,319,000 after buying an additional 16,039 shares during the last quarter. Permanent Capital Management LP bought a new stake in Cencora during the fourth quarter worth $267,000. Finally, SBI Securities Co. Ltd. purchased a new stake in Cencora in the 4th quarter valued at $30,000. Institutional investors and hedge funds own 97.52% of the company's stock.

Cencora Stock Performance

Cencora stock traded up $0.06 during midday trading on Monday, reaching $299.48. The stock had a trading volume of 1,284,615 shares, compared to its average volume of 1,503,791. The firm has a market capitalization of $58.05 billion, a PE ratio of 34.74, a P/E/G ratio of 1.48 and a beta of 0.58. Cencora, Inc. has a 12 month low of $218.65 and a 12 month high of $309.35. The company has a quick ratio of 0.52, a current ratio of 0.87 and a debt-to-equity ratio of 6.01. The firm's 50-day moving average price is $289.95 and its 200 day moving average price is $265.45.

Cencora (NYSE:COR - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $4.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.07 by $0.35. The company had revenue of $75.50 billion for the quarter, compared to analyst estimates of $75.41 billion. Cencora had a net margin of 0.55% and a return on equity of 344.71%. The company's quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.80 earnings per share. As a group, research analysts predict that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 16th were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date was Friday, May 16th. Cencora's payout ratio is currently 25.52%.

Analyst Ratings Changes

A number of analysts recently commented on COR shares. Jefferies Financial Group lifted their price target on Cencora from $275.00 to $300.00 and gave the stock a "hold" rating in a report on Monday. UBS Group lifted their target price on Cencora from $298.00 to $335.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Wall Street Zen raised shares of Cencora from a "hold" rating to a "buy" rating in a report on Wednesday, March 12th. Citigroup raised their price objective on shares of Cencora from $330.00 to $355.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Finally, Robert W. Baird lifted their price objective on shares of Cencora from $314.00 to $350.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $306.33.

Insiders Place Their Bets

In related news, Chairman Steven H. Collis sold 14,579 shares of the business's stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $292.62, for a total transaction of $4,266,106.98. Following the sale, the chairman directly owned 311,913 shares in the company, valued at approximately $91,271,982.06. The trade was a 4.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Robert P. Mauch sold 4,969 shares of Cencora stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $289.33, for a total value of $1,437,680.77. Following the transaction, the chief executive officer directly owned 47,582 shares of the company's stock, valued at $13,766,900.06. The trade was a 9.46% decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,127 shares of company stock valued at $9,812,296 over the last ninety days. Corporate 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.