Arrowstreet Capital Limited Partnership Increases Stake in Cencora, Inc. $COR

Arrowstreet Capital Limited Partnership increased its position in shares of Cencora, Inc. (NYSE:COR) by 5.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,018,677 shares of the company’s stock after buying an additional 53,719 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.53% of Cencora worth $318,367,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in COR. United Bank lifted its position in shares of Cencora by 4.5% during the 2nd quarter. United Bank now owns 7,032 shares of the company’s stock worth $2,109,000 after purchasing an additional 305 shares during the last quarter. Midwest Trust Co purchased a new position in Cencora in the second quarter valued at $321,000. PFG Advisors acquired a new stake in Cencora in the second quarter valued at $325,000. Vise Technologies Inc. purchased a new stake in Cencora during the 2nd quarter worth about $1,244,000. Finally, Verus Capital Partners LLC purchased a new stake in Cencora during the 2nd quarter worth about $207,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

Cencora Stock Up 0.6%

Shares of NYSE COR opened at $352.39 on Friday. The business has a 50-day moving average price of $355.37 and a 200 day moving average price of $337.70. The stock has a market cap of $68.55 billion, a PE ratio of 42.35, a price-to-earnings-growth ratio of 1.63 and a beta of 0.68. The company has a quick ratio of 0.51, a current ratio of 0.92 and a debt-to-equity ratio of 3.62. Cencora, Inc. has a 52-week low of $252.49 and a 52-week high of $377.54.

Cencora (NYSE:COR) last released its quarterly earnings results on Wednesday, February 4th. The company reported $4.08 EPS for the quarter, topping the consensus estimate of $4.04 by $0.04. The company had revenue of $85.93 billion for the quarter, compared to analyst estimates of $86.12 billion. Cencora had a return on equity of 176.54% and a net margin of 0.50%.The firm’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.73 earnings per share. Equities research analysts forecast that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Friday, February 13th were given a $0.60 dividend. The ex-dividend date was Friday, February 13th. This represents a $2.40 annualized dividend and a yield of 0.7%. Cencora’s dividend payout ratio is 28.85%.

Wall Street Analyst Weigh In

COR has been the topic of a number of recent analyst reports. Bank of America dropped their price objective on Cencora from $380.00 to $360.00 and set a “neutral” rating on the stock in a report on Monday, January 5th. Weiss Ratings upgraded Cencora from a “hold (c+)” rating to a “buy (b)” rating in a research note on Thursday, February 5th. Jefferies Financial Group raised Cencora from an “underperform” rating to a “buy” rating in a report on Thursday, January 22nd. Robert W. Baird set a $415.00 price objective on shares of Cencora in a report on Tuesday, January 13th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Cencora from $417.00 to $419.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 10th. Eleven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $399.00.

Insider Buying and Selling

In other news, EVP Elizabeth S. Campbell sold 3,351 shares of the company’s stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $342.10, for a total value of $1,146,377.10. Following the completion of the sale, the executive vice president directly owned 23,891 shares of the company’s stock, valued at approximately $8,173,111.10. This represents a 12.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Silvana Battaglia sold 1,677 shares of the stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $345.00, for a total transaction of $578,565.00. Following the sale, the executive vice president owned 18,796 shares of the company’s stock, valued at $6,484,620. This trade represents a 8.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 15,220 shares of company stock worth $5,282,867 in the last 90 days. Company insiders own 0.38% of the company’s stock.

Cencora Profile

Cencora (NYSE:COR) is a global healthcare services and pharmaceutical distribution company that provides end-to-end solutions across the pharmaceutical supply chain. The company’s core activities include wholesale drug distribution, specialty drug distribution, and the operation of specialty pharmacies, complemented by logistics, cold-chain management and other fulfillment services designed to support complex and temperature-sensitive therapies.

Beyond physical distribution, Cencora offers a range of commercial and patient-focused services for pharmaceutical manufacturers and healthcare providers.