Connor Clark & Lunn Investment Management Ltd. Acquires 7,059 Shares of Cencora, Inc. (NYSE:COR)

Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Cencora, Inc. (NYSE:COR) by 236.6% during the 4th quarter, HoldingsChannel reports. The firm owned 10,043 shares of the company’s stock after purchasing an additional 7,059 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Cencora were worth $2,256,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. JFS Wealth Advisors LLC boosted its stake in Cencora by 63.0% in 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 during the period. SBI Securities Co. Ltd. acquired a new position in shares of Cencora during the fourth quarter worth about $30,000. Kentucky Trust Co bought a new position in shares of Cencora during the fourth quarter worth about $33,000. Householder Group Estate & Retirement Specialist LLC raised its position in Cencora by 85.2% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 150 shares of the company’s stock valued at $33,000 after buying an additional 69 shares during the last quarter. Finally, WASHINGTON TRUST Co lifted its stake in Cencora by 37.7% in the 4th quarter. WASHINGTON TRUST Co now owns 168 shares of the company’s stock valued at $38,000 after acquiring an additional 46 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Cencora Stock Performance

Shares of NYSE COR opened at $264.02 on Wednesday. Cencora, Inc. has a 12 month low of $214.77 and a 12 month high of $265.44. The stock has a 50 day moving average of $248.84 and a 200-day moving average of $239.49. 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 company has a market capitalization of $51.20 billion, a P/E ratio of 37.56, a P/E/G ratio of 1.31 and a beta of 0.51.

Cencora (NYSE:COR) last released its quarterly earnings data on Wednesday, February 5th. The company reported $3.73 EPS for the quarter, beating the consensus estimate of $3.50 by $0.23. Cencora had a net margin of 0.46% and a return on equity of 328.62%. As a group, equities research analysts predict that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders 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 annualized dividend and a yield of 0.83%. Cencora’s dividend payout ratio is currently 31.29%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a report on Friday, January 24th. StockNews.com upgraded shares of Cencora from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Mizuho started coverage on shares of Cencora in a research note on Wednesday, December 4th. They set an “outperform” rating and a $280.00 price objective for the company. Wells Fargo & Company lifted their target price on Cencora from $251.00 to $274.00 and gave the company an “equal weight” rating in a research report on Friday, March 14th. Finally, Evercore ISI increased their price target 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $280.20.

Insiders Place Their Bets

In related news, EVP Silvana Battaglia sold 1,678 shares of Cencora stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $228.72, for a total transaction of $383,792.16. Following the completion of the sale, the executive vice president now directly owns 20,329 shares of the company’s stock, valued at approximately $4,649,648.88. This trade represents a 7.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Robert P. Mauch sold 4,970 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $255.00, for a total value of $1,267,350.00. Following the completion of the transaction, the chief executive officer now directly owns 51,070 shares in the company, valued at approximately $13,022,850. This represents a 8.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,648 shares of company stock worth $3,382,462 over the last three months. Insiders own 10.80% of the company’s stock.

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.