Latitude Advisors LLC Makes New $559,000 Investment in Cencora, Inc. (NYSE:COR)

Latitude Advisors LLC acquired a new stake in Cencora, Inc. (NYSE:COR) in the 4th quarter, HoldingsChannel reports. The fund acquired 2,487 shares of the company’s stock, valued at approximately $559,000.

Several other hedge funds and other institutional investors have also made changes to their positions in COR. Pacer Advisors Inc. raised its position in Cencora by 6,855.3% in the 3rd quarter. Pacer Advisors Inc. now owns 2,065,374 shares of the company’s stock valued at $464,874,000 after purchasing an additional 2,035,679 shares in the last quarter. Wellington Management Group LLP lifted its stake in Cencora by 7.0% in the third quarter. Wellington Management Group LLP now owns 5,193,386 shares of the company’s stock worth $1,168,927,000 after acquiring an additional 338,452 shares during the last quarter. Nordea Investment Management AB lifted its stake in Cencora by 40.2% in the fourth quarter. Nordea Investment Management AB now owns 1,077,272 shares of the company’s stock worth $243,173,000 after acquiring an additional 308,773 shares during the last quarter. Two Sigma Advisers LP grew its holdings in Cencora by 21.7% during the 3rd quarter. Two Sigma Advisers LP now owns 1,638,400 shares of the company’s stock worth $368,771,000 after acquiring an additional 292,600 shares in the last quarter. Finally, State Street Corp increased its position in shares of Cencora by 3.8% in the 3rd quarter. State Street Corp now owns 8,045,896 shares of the company’s stock valued at $1,810,970,000 after purchasing an additional 291,867 shares during the last quarter. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Insider Transactions at Cencora

In other news, EVP Silvana Battaglia sold 1,678 shares of the company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $228.72, for a total value of $383,792.16. Following the completion of the transaction, the executive vice president now directly owns 20,329 shares in the company, valued at approximately $4,649,648.88. This represents a 7.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Steven H. Collis sold 50,000 shares of Cencora stock in a transaction on Monday, November 25th. The stock was sold at an average price of $243.97, for a total transaction of $12,198,500.00. Following the sale, the chairman now directly owns 326,557 shares in the company, valued at $79,670,111.29. This trade represents a 13.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 73,187 shares of company stock valued at $17,790,912 over the last 90 days. Corporate insiders own 10.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on COR. Barclays boosted their target price on shares of Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. upped their price objective on Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Evercore ISI raised their target price on Cencora from $270.00 to $280.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Mizuho initiated coverage on Cencora in a report on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 price target for the company. Finally, Robert W. Baird raised their price objective on shares of Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $277.90.

Cencora Stock Down 0.7 %

Shares of NYSE:COR opened at $246.25 on Tuesday. The company has a current ratio of 0.92, a quick ratio of 0.53 and a debt-to-equity ratio of 16.40. The firm has a market cap of $47.59 billion, a price-to-earnings ratio of 35.03, a PEG ratio of 1.49 and a beta of 0.49. The stock’s 50-day moving average price is $238.94 and its two-hundred day moving average price is $236.90. Cencora, Inc. has a 12-month low of $214.77 and a 12-month high of $262.26.

Cencora (NYSE:COR) last released its quarterly earnings data on Wednesday, February 5th. The company reported $3.73 EPS for the quarter, topping analysts’ consensus estimates of $3.50 by $0.23. Cencora had a return on equity of 328.62% and a net margin of 0.46%. On average, research analysts forecast that Cencora, Inc. will post 15.36 EPS for the current year.

Cencora Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.20 annualized dividend and a yield of 0.89%. Cencora’s dividend payout ratio is currently 31.29%.

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.