Moore Capital Management LP Invests $363,000 in Cencora, Inc. (NYSE:COR)

Moore Capital Management LP purchased a new position in shares of Cencora, Inc. (NYSE:COR - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,616 shares of the company's stock, valued at approximately $363,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Hickory Asset Management Inc. acquired a new position in shares of Cencora during the fourth quarter worth about $572,000. Sylvest Advisors LLC acquired a new position in shares of Cencora during the fourth quarter worth about $1,105,000. Vontobel Holding Ltd. grew its position in shares of Cencora by 46.9% during the fourth quarter. Vontobel Holding Ltd. now owns 6,245 shares of the company's stock worth $1,403,000 after buying an additional 1,995 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its position in shares of Cencora by 71.1% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 7,048 shares of the company's stock worth $1,583,000 after buying an additional 2,928 shares in the last quarter. Finally, Milestone Asset Management LLC grew its position in shares of Cencora by 430.2% during the fourth quarter. Milestone Asset Management LLC now owns 5,461 shares of the company's stock worth $1,227,000 after buying an additional 4,431 shares in the last quarter. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Chairman Steven H. Collis sold 14,579 shares of the stock in a transaction that occurred on Tuesday, April 22nd. The stock was sold at an average price of $281.81, for a total value of $4,108,507.99. Following the completion of the sale, the chairman now directly owns 315,913 shares of the company's stock, valued at approximately $89,027,442.53. This represents a 4.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Lazarus Krikorian sold 2,000 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $260.06, for a total value of $520,120.00. Following the completion of the sale, the chief accounting officer now directly owns 20,154 shares of the company's stock, valued at $5,241,249.24. The trade was a 9.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,223 shares of company stock valued at $13,580,967. 10.80% of the stock is currently owned by company insiders.

Cencora Stock Up 1.5%

COR traded up $4.27 on Friday, reaching $290.24. The company's stock had a trading volume of 1,355,556 shares, compared to its average volume of 1,542,582. The company has a market capitalization of $56.28 billion, a price-to-earnings ratio of 41.29, a P/E/G ratio of 1.31 and a beta of 0.60. Cencora, Inc. has a fifty-two week low of $214.77 and a fifty-two week high of $309.35. The stock has a 50 day moving average of $279.10 and a two-hundred day moving average of $254.99. The company has a quick ratio of 0.54, a current ratio of 0.92 and a debt-to-equity ratio of 16.40.

Cencora (NYSE:COR - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $4.42 earnings per share for the quarter, beating the consensus estimate of $4.07 by $0.35. The business had revenue of $75.50 billion during the quarter, compared to the consensus estimate of $75.41 billion. Cencora had a return on equity of 328.62% and a net margin of 0.46%. The company's revenue was up 10.3% compared to the same quarter last year. During the same period in the prior year, the company earned $3.80 earnings per share. As a group, analysts forecast that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Friday, May 16th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 0.76%. The ex-dividend date is Friday, May 16th. Cencora's payout ratio is currently 25.52%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on COR shares. Morgan Stanley set a $288.00 price objective on Cencora in a research report on Tuesday, April 15th. Citigroup boosted their price objective on Cencora from $330.00 to $355.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Evercore ISI boosted their price objective on Cencora from $270.00 to $280.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. Wells Fargo & Company upped their price target on Cencora from $251.00 to $274.00 and gave the company an "equal weight" rating in a report on Friday, March 14th. Finally, StockNews.com raised Cencora from a "hold" rating to a "buy" rating in a report on Wednesday, March 12th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $301.18.

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.