EverSource Wealth Advisors LLC Raises Stake in Cencora, Inc. (NYSE:COR)

EverSource Wealth Advisors LLC increased its stake in Cencora, Inc. (NYSE:COR) by 14.0% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,769 shares of the company’s stock after buying an additional 217 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Cencora were worth $397,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp lifted its holdings in Cencora by 3.8% during the third 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. Wellington Management Group LLP increased its position in shares of 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 purchasing an additional 338,452 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Cencora by 4.7% in the third quarter. Geode Capital Management LLC now owns 4,195,851 shares of the company’s stock worth $941,183,000 after purchasing an additional 189,054 shares during the last quarter. Pacer Advisors Inc. grew its position in Cencora by 6.7% during the fourth quarter. Pacer Advisors Inc. now owns 2,204,242 shares of the company’s stock valued at $495,249,000 after acquiring an additional 138,868 shares during the last quarter. Finally, Two Sigma Advisers LP grew its position in Cencora by 21.7% during the third quarter. Two Sigma Advisers LP now owns 1,638,400 shares of the company’s stock valued at $368,771,000 after acquiring an additional 292,600 shares during the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Cencora Price Performance

Shares of NYSE:COR opened at $258.09 on Friday. Cencora, Inc. has a 1-year low of $214.77 and a 1-year high of $263.70. The company has a debt-to-equity ratio of 16.40, a current ratio of 0.92 and a quick ratio of 0.54. The business has a fifty day moving average price of $247.59 and a 200-day moving average price of $239.09. The company has a market capitalization of $50.05 billion, a PE ratio of 36.71, a PEG ratio of 1.31 and a beta of 0.51.

Cencora (NYSE:COR) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share for the quarter, beating 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 analysts expect that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a dividend of $0.55 per share. The ex-dividend date was Friday, February 14th. This represents a $2.20 annualized dividend and a dividend yield of 0.85%. Cencora’s payout ratio is presently 31.29%.

Insider Buying and Selling

In related news, EVP Silvana Battaglia sold 5,000 shares of Cencora stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $242.24, for a total value of $1,211,200.00. Following the completion of the sale, the executive vice president now directly owns 15,374 shares in the company, valued at approximately $3,724,197.76. This trade represents a 24.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert P. Mauch sold 4,970 shares of Cencora stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $255.00, for a total value of $1,267,350.00. Following the completion of the sale, the chief executive officer now owns 51,070 shares of the company’s stock, valued at $13,022,850. The trade was a 8.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,648 shares of company stock worth $3,382,462. 10.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on COR shares. Mizuho assumed 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. JPMorgan Chase & Co. raised their price target on Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. StockNews.com raised Cencora from a “hold” rating to a “buy” rating in a research report on Wednesday. Wells Fargo & Company raised their price objective on Cencora from $251.00 to $274.00 and gave the company an “equal weight” rating in a research report on Friday. Finally, Evercore ISI raised their price objective on Cencora from $270.00 to $280.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Two research 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 company has an average 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.