Schonfeld Strategic Advisors LLC Acquires 25,656 Shares of Cencora, Inc. (NYSE:COR)

Schonfeld Strategic Advisors LLC raised its stake in shares of Cencora, Inc. (NYSE:COR - Free Report) by 180.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 39,850 shares of the company's stock after buying an additional 25,656 shares during the period. Schonfeld Strategic Advisors LLC's holdings in Cencora were worth $8,953,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Norges Bank acquired a new stake in shares of Cencora in the 4th quarter valued at $478,309,000. Raymond James Financial Inc. bought a new position in shares of Cencora during the 4th quarter worth approximately $322,460,000. Invesco Ltd. boosted its stake in Cencora by 20.4% in the 4th quarter. Invesco Ltd. now owns 3,243,531 shares of the company's stock valued at $728,757,000 after buying an additional 550,246 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Cencora by 67.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 844,179 shares of the company's stock valued at $189,670,000 after buying an additional 340,862 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in Cencora by 140.6% in the fourth quarter. Renaissance Technologies LLC now owns 550,700 shares of the company's stock valued at $123,731,000 after acquiring an additional 321,800 shares during the period. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Cencora Price Performance

Cencora stock traded up $0.69 during mid-day trading on Tuesday, reaching $292.66. 293,945 shares of the company were exchanged, compared to its average volume of 1,503,392. The company has a fifty day simple moving average of $273.47 and a 200-day simple moving average of $252.02. The firm has a market cap of $56.75 billion, a PE ratio of 41.63, a PEG ratio of 1.31 and a beta of 0.60. The company has a debt-to-equity ratio of 16.40, a current ratio of 0.92 and a quick ratio of 0.54. Cencora, Inc. has a 12 month low of $214.77 and a 12 month high of $296.65.

Cencora (NYSE:COR - Get Free Report) last released its earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share for the quarter, topping the consensus estimate of $3.50 by $0.23. Cencora had a return on equity of 328.62% and a net margin of 0.46%. As a group, equities research analysts expect that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a $0.55 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.75%. Cencora's dividend payout ratio (DPR) is currently 31.29%.

Insider Activity at Cencora

In other news, EVP Elizabeth S. Campbell sold 4,127 shares of the business's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $268.28, for a total transaction of $1,107,191.56. Following the sale, the executive vice president now directly owns 14,665 shares in the company, valued at approximately $3,934,326.20. The trade was a 21.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Lazarus Krikorian sold 2,000 shares of the stock in a transaction 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 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. In 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 insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on COR shares. StockNews.com upgraded shares of Cencora from a "hold" rating to a "buy" rating in a research report on Wednesday, March 12th. Bank of America lifted 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. Wells Fargo & Company boosted their target price on Cencora from $251.00 to $274.00 and gave the stock an "equal weight" rating in a research report on Friday, March 14th. UBS Group upped their price objective on shares of Cencora from $298.00 to $335.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Finally, Morgan Stanley set a $288.00 target price on Cencora in a research note on Tuesday, April 15th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $290.00.

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.