Hudson Edge Investment Partners Inc. Boosts Position in Cencora, Inc. (NYSE:COR)

Hudson Edge Investment Partners Inc. lifted its stake in shares of Cencora, Inc. (NYSE:COR - Free Report) by 11.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,810 shares of the company's stock after acquiring an additional 2,475 shares during the quarter. Cencora accounts for about 1.4% of Hudson Edge Investment Partners Inc.'s portfolio, making the stock its 12th largest position. Hudson Edge Investment Partners Inc.'s holdings in Cencora were worth $6,899,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of COR. Oppenheimer & Co. Inc. increased its position in shares of Cencora by 1.7% during the fourth quarter. Oppenheimer & Co. Inc. now owns 5,949 shares of the company's stock worth $1,337,000 after acquiring an additional 99 shares during the period. SVB Wealth LLC purchased a new stake in shares of Cencora during the fourth quarter worth $431,000. Fisher Asset Management LLC increased its position in shares of Cencora by 17.7% during the fourth quarter. Fisher Asset Management LLC now owns 1,091 shares of the company's stock worth $245,000 after acquiring an additional 164 shares during the period. Smartleaf Asset Management LLC increased its position in shares of Cencora by 39.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,108 shares of the company's stock worth $249,000 after acquiring an additional 314 shares during the period. Finally, Modera Wealth Management LLC increased its holdings in Cencora by 16.1% in the fourth quarter. Modera Wealth Management LLC now owns 1,167 shares of the company's stock valued at $262,000 after buying an additional 162 shares during the last quarter. Hedge funds and other institutional investors own 97.52% of the company's stock.

Cencora Stock Performance

Shares of COR traded up $5.06 during mid-day trading on Friday, hitting $296.23. 614,990 shares of the company's stock were exchanged, compared to its average volume of 1,506,788. Cencora, Inc. has a fifty-two week low of $218.65 and a fifty-two week high of $309.35. The firm has a market capitalization of $57.42 billion, a P/E ratio of 34.37, a P/E/G ratio of 1.47 and a beta of 0.57. The business's 50 day moving average is $291.12 and its two-hundred day moving average is $267.51. The company has a current ratio of 0.87, a quick ratio of 0.52 and a debt-to-equity ratio of 6.01.

Cencora (NYSE:COR - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $4.42 earnings per share for the quarter, topping the consensus estimate of $4.07 by $0.35. Cencora had a net margin of 0.55% and a return on equity of 344.71%. The business 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 earnings per share. The business's quarterly revenue was up 10.3% compared to the same quarter last year. On average, equities analysts expect that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 16th were paid a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.20 annualized dividend and a dividend yield of 0.74%. Cencora's dividend payout ratio (DPR) is 25.52%.

Insider Activity

In related news, CEO Robert P. Mauch sold 4,969 shares of the firm's 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 completion of the sale, the chief executive officer owned 47,582 shares in the company, valued at $13,766,900.06. This trade represents a 9.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Steven H. Collis sold 14,579 shares of the firm'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 sale, the chairman owned 311,913 shares of the company's stock, valued at approximately $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 34,127 shares of company stock valued at $9,812,296 in the last quarter. Insiders own 10.80% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on COR. Wall Street Zen raised Cencora from a "hold" rating to a "buy" rating in a report on Wednesday, March 12th. UBS Group increased their target price on Cencora from $298.00 to $335.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Jefferies Financial Group increased their target price on Cencora from $275.00 to $300.00 and gave the company a "hold" rating in a report on Monday, June 30th. Wells Fargo & Company raised Cencora from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $274.00 to $337.00 in a report on Tuesday, June 3rd. Finally, Citigroup increased their target price on Cencora from $330.00 to $355.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $306.33.

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.