Redwood Investment Management LLC Buys New Shares in Cencora, Inc. (NYSE:COR)

Redwood Investment Management LLC purchased a new position in shares of Cencora, Inc. (NYSE:COR - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 6,354 shares of the company's stock, valued at approximately $1,428,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Whittier Trust Co. raised its holdings in Cencora by 0.6% during the fourth quarter. Whittier Trust Co. now owns 7,856 shares of the company's stock worth $1,765,000 after acquiring an additional 44 shares in the last quarter. Shepherd Financial Partners LLC increased its position in shares of Cencora by 0.9% during the 4th quarter. Shepherd Financial Partners LLC now owns 5,441 shares of the company's stock worth $1,223,000 after purchasing an additional 46 shares during the last quarter. WASHINGTON TRUST Co increased its position in shares of Cencora by 37.7% during the 4th quarter. WASHINGTON TRUST Co now owns 168 shares of the company's stock worth $38,000 after purchasing an additional 46 shares during the last quarter. JFS Wealth Advisors LLC raised its stake in shares of Cencora by 63.0% during the 4th quarter. JFS Wealth Advisors LLC now owns 119 shares of the company's stock worth $27,000 after purchasing an additional 46 shares in the last quarter. Finally, Cullen Frost Bankers Inc. boosted its holdings in shares of Cencora by 1.1% in the 4th quarter. Cullen Frost Bankers Inc. now owns 4,463 shares of the company's stock valued at $1,003,000 after buying an additional 47 shares during the last quarter. 97.52% of the stock is owned by institutional investors.

Analyst Ratings Changes

COR has been the subject of several analyst reports. UBS Group raised their target price on shares of Cencora from $298.00 to $335.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Evercore ISI lifted their price objective on shares of Cencora from $270.00 to $280.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. StockNews.com raised shares of Cencora from a "hold" rating to a "buy" rating in a report on Wednesday, March 12th. JPMorgan Chase & Co. raised their target price on shares of Cencora from $289.00 to $301.00 and gave the company an "overweight" rating in a research note on Friday, January 24th. Finally, Citigroup lifted their price target on Cencora from $330.00 to $355.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $301.18.

Cencora Trading Up 2.3%

Shares of NYSE:COR opened at $285.51 on Friday. Cencora, Inc. has a 12-month low of $214.77 and a 12-month high of $309.35. The business has a 50 day moving average of $278.51 and a 200-day moving average of $254.58. The company has a quick ratio of 0.54, a current ratio of 0.92 and a debt-to-equity ratio of 16.40. The stock has a market cap of $55.37 billion, a PE ratio of 40.61, a P/E/G ratio of 1.31 and a beta of 0.60.

Cencora (NYSE:COR - Get Free Report) last released its quarterly 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. The business had revenue of $75.50 billion during the quarter, compared to analysts' expectations of $75.41 billion. Cencora had a return on equity of 328.62% and a net margin of 0.46%. The firm's revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period last year, the firm posted $3.80 EPS. As a group, equities research analysts forecast that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Friday, May 16th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.20 annualized dividend and a dividend yield of 0.77%. Cencora's dividend payout ratio (DPR) is presently 25.52%.

Insider Buying and Selling

In other Cencora news, Chairman Steven H. Collis sold 14,579 shares of the business's stock in a transaction dated Tuesday, April 22nd. The shares were 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 owns 315,913 shares of the company's stock, valued at $89,027,442.53. The trade was a 4.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Robert P. Mauch sold 4,969 shares of the stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $289.33, for a total transaction of $1,437,680.77. Following the transaction, the chief executive officer now owns 47,582 shares in the company, valued at approximately $13,766,900.06. The trade was a 9.46% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,223 shares of company stock valued at $13,580,967. 10.80% of the stock is owned by company insiders.

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.

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