Brandywine Global Investment Management LLC Decreases Position in Cencora, Inc. (NYSE:COR)

Brandywine Global Investment Management LLC reduced its position in shares of Cencora, Inc. (NYSE:COR) by 7.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 127,717 shares of the company’s stock after selling 10,534 shares during the period. Brandywine Global Investment Management LLC’s holdings in Cencora were worth $28,695,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of COR. Whittier Trust Co. boosted its stake in shares of Cencora by 0.6% in 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 during the last quarter. Shepherd Financial Partners LLC lifted its holdings in Cencora by 0.9% in the 4th quarter. Shepherd Financial Partners LLC now owns 5,441 shares of the company’s stock valued at $1,223,000 after purchasing an additional 46 shares in the last quarter. WASHINGTON TRUST Co boosted its stake in 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 grew its holdings in shares of Cencora by 63.0% during the fourth quarter. JFS Wealth Advisors LLC now owns 119 shares of the company’s stock worth $27,000 after buying an additional 46 shares in the last quarter. Finally, Cullen Frost Bankers Inc. raised its position in shares of Cencora by 1.1% in the fourth 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 currently owned by hedge funds and other institutional investors.

Insider Activity at Cencora

In other Cencora news, Chairman Steven H. Collis sold 14,578 shares of the business’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $269.51, for a total transaction of $3,928,916.78. Following the sale, the chairman now directly owns 317,913 shares in the company, valued at $85,680,732.63. This represents a 4.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Elizabeth S. Campbell sold 4,127 shares of the 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 $3,934,326.20. This represents a 21.96 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,675 shares of company stock worth $8,034,778. 10.80% of the stock is currently owned by company insiders.

Cencora Stock Up 0.4 %

Shares of COR opened at $275.16 on Monday. The company’s 50-day moving average price is $253.81 and its 200 day moving average price is $241.24. Cencora, Inc. has a 12-month low of $214.77 and a 12-month high of $275.57. The company has a current ratio of 0.92, a quick ratio of 0.54 and a debt-to-equity ratio of 16.40. The firm has a market cap of $53.36 billion, a P/E ratio of 39.14, a price-to-earnings-growth ratio of 1.31 and a beta of 0.51.

Cencora (NYSE:COR) last released its quarterly earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.50 by $0.23. Cencora had a net margin of 0.46% and a return on equity of 328.62%. On average, sell-side analysts forecast that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.20 annualized dividend and a dividend yield of 0.80%. Cencora’s dividend payout ratio is currently 31.29%.

Analyst Ratings Changes

COR has been the topic of a number of recent research reports. Mizuho began coverage on shares of Cencora in a research report on Wednesday, December 4th. They set an “outperform” rating and a $280.00 price target on the stock. Evercore ISI boosted their target price on Cencora from $270.00 to $280.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. StockNews.com raised Cencora from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. JPMorgan Chase & Co. boosted their price objective on Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Finally, Wells Fargo & Company raised their target price on Cencora from $251.00 to $274.00 and gave the stock an “equal weight” rating in a research note on Friday, March 14th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $280.20.

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.