Alliancebernstein L.P. Has $278.09 Million Stake in Cencora, Inc. $COR

Alliancebernstein L.P. lowered its position in Cencora, Inc. (NYSE:COR) by 21.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 889,802 shares of the company’s stock after selling 244,496 shares during the period. Alliancebernstein L.P. owned 0.46% of Cencora worth $278,090,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. United Bank increased its holdings in Cencora by 4.5% during the 2nd quarter. United Bank now owns 7,032 shares of the company’s stock valued at $2,109,000 after purchasing an additional 305 shares in the last quarter. Advisors Capital Management LLC boosted its stake in Cencora by 2.2% in the second quarter. Advisors Capital Management LLC now owns 2,808 shares of the company’s stock worth $842,000 after purchasing an additional 61 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Cencora by 7.2% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 42,307 shares of the company’s stock worth $12,686,000 after purchasing an additional 2,839 shares in the last quarter. Creative Planning grew its holdings in shares of Cencora by 94.0% during the second quarter. Creative Planning now owns 68,069 shares of the company’s stock worth $20,410,000 after purchasing an additional 32,980 shares during the last quarter. Finally, Intech Investment Management LLC increased its stake in shares of Cencora by 10.1% in the second quarter. Intech Investment Management LLC now owns 37,591 shares of the company’s stock valued at $11,272,000 after buying an additional 3,447 shares in the last quarter. 97.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on COR. Jefferies Financial Group raised Cencora from an “underperform” rating to a “buy” rating in a report on Thursday, January 22nd. Weiss Ratings raised shares of Cencora from a “hold (c+)” rating to a “buy (b)” rating in a report on Thursday, February 5th. Evercore lowered their price objective on shares of Cencora from $440.00 to $420.00 and set an “outperform” rating for the company in a research report on Thursday, February 5th. Robert W. Baird set a $415.00 target price on shares of Cencora in a research note on Tuesday, January 13th. Finally, Bank of America reduced their target price on shares of Cencora from $380.00 to $360.00 and set a “neutral” rating on the stock in a research report on Monday, January 5th. Eleven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $399.00.

Cencora Stock Performance

Shares of NYSE:COR opened at $349.69 on Monday. The company has a current ratio of 0.92, a quick ratio of 0.51 and a debt-to-equity ratio of 3.62. Cencora, Inc. has a 1-year low of $252.49 and a 1-year high of $377.54. The stock has a market capitalization of $68.03 billion, a P/E ratio of 42.03, a P/E/G ratio of 1.63 and a beta of 0.68. The business has a 50-day moving average price of $355.58 and a two-hundred day moving average price of $338.81.

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

Cencora Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Friday, February 13th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Friday, February 13th. Cencora’s payout ratio is currently 28.85%.

Insiders Place Their Bets

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