Pacer Advisors Inc. Has $3.91 Million Stock Position in Cencora, Inc. (NYSE:COR)

Key Points

• Pacer Advisors Inc. significantly reduced its stake in Cencora, Inc. by 99.4%, selling 2,190,191 shares and leaving it with only 14,051 shares worth approximately $3.9 million.
• Cencora, Inc. has seen substantial interest from other institutional investors, with New Age Alpha Advisors LLC increasing its holdings by 2,538.1% in the last quarter.
• The company recently reported earnings of $4.42 per share, surpassing analysts' estimates, and announced a quarterly dividend of $0.55, resulting in an annualized yield of 0.76%.

Pacer Advisors Inc. reduced its holdings in Cencora, Inc. (NYSE:COR - Free Report) by 99.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,051 shares of the company's stock after selling 2,190,191 shares during the quarter. Pacer Advisors Inc.'s holdings in Cencora were worth $3,907,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in COR. Price T Rowe Associates Inc. MD increased its stake in shares of Cencora by 0.9% during 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 acquiring an additional 78,066 shares during the period. Bank of America Corp DE boosted its stake in Cencora by 62.3% during the 4th 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. Geode Capital Management LLC increased its position in shares of Cencora by 3.1% during the 4th 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 during the period. Invesco Ltd. raised its stake in shares of Cencora by 20.4% in the 4th quarter. Invesco Ltd. now owns 3,243,531 shares of the company's stock worth $728,757,000 after buying an additional 550,246 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Cencora by 11.6% in the fourth quarter. Northern Trust Corp now owns 2,421,237 shares of the company's stock valued at $544,004,000 after buying an additional 252,028 shares during the period. 97.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on COR. Citigroup lifted their target price on Cencora from $330.00 to $355.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. 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 note on Thursday, May 8th. Wells Fargo & Company raised shares of 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 research note on Tuesday, June 3rd. 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. Finally, UBS Group upped their price target on Cencora from $298.00 to $335.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Cencora presently has an average rating of "Moderate Buy" and an average price target of $309.83.

Insider Activity

In other news, Chairman Steven H. Collis sold 14,579 shares of the company's stock in a transaction dated 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 completion of the sale, the chairman owned 311,913 shares in the company, valued at approximately $91,271,982.06. This represents a 4.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Robert P. Mauch sold 4,968 shares of the stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $294.11, for a total value of $1,461,138.48. Following the transaction, the chief executive officer directly owned 42,351 shares in the company, valued at approximately $12,455,852.61. This represents a 10.50% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,125 shares of company stock worth $9,993,789. Corporate insiders own 10.80% of the company's stock.

Cencora Stock Up 0.9%

Shares of Cencora stock traded up $2.44 on Friday, hitting $288.52. 482,433 shares of the company traded hands, compared to its average volume of 1,567,191. 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 company has a market cap of $55.92 billion, a PE ratio of 33.47, a PEG ratio of 1.45 and a beta of 0.57. The company has a 50-day moving average price of $293.13 and a 200 day moving average price of $275.35.

Cencora (NYSE:COR - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $4.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.07 by $0.35. Cencora had a return on equity of 344.71% and a net margin of 0.55%. The firm had revenue of $75.50 billion during the quarter, compared to analysts' expectations of $75.41 billion. During the same quarter last year, the firm earned $3.80 earnings per share. The business's revenue for the quarter was up 10.3% on a year-over-year basis. Sell-side analysts predict that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 16th were issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 0.8%. The ex-dividend date was Friday, May 16th. Cencora's dividend payout ratio (DPR) is 25.52%.

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.