First Manhattan CO. LLC. Raises Holdings in Cencora, Inc. (NYSE:COR)

First Manhattan CO. LLC. lifted its stake in shares of Cencora, Inc. (NYSE:COR) by 12.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 265,783 shares of the company’s stock after purchasing an additional 30,031 shares during the quarter. First Manhattan CO. LLC. owned 0.14% of Cencora worth $59,716,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of COR. Hickory Asset Management Inc. purchased a new position in Cencora in the 4th quarter worth approximately $572,000. Sylvest Advisors LLC bought a new position in shares of Cencora during the fourth quarter valued at about $1,105,000. Vontobel Holding Ltd. increased its holdings in shares of Cencora by 46.9% in the fourth quarter. Vontobel Holding Ltd. now owns 6,245 shares of the company’s stock worth $1,403,000 after buying an additional 1,995 shares during the period. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Cencora by 71.1% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 7,048 shares of the company’s stock valued at $1,583,000 after acquiring an additional 2,928 shares during the period. Finally, Milestone Asset Management LLC increased its stake in Cencora by 430.2% in the 4th quarter. Milestone Asset Management LLC now owns 5,461 shares of the company’s stock worth $1,227,000 after purchasing an additional 4,431 shares during the period. 97.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. upped their price objective on shares of Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. UBS Group boosted their target price on Cencora from $298.00 to $335.00 and gave the company a “buy” rating in a research note on Tuesday, April 29th. Morgan Stanley set a $288.00 price objective on shares of Cencora in a research report on Tuesday, April 15th. Robert W. Baird boosted their price target on shares of Cencora from $314.00 to $350.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, StockNews.com raised Cencora from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $301.18.

Insider Transactions at Cencora

In related news, Chairman Steven H. Collis sold 14,579 shares of Cencora stock in a transaction that occurred on Tuesday, April 22nd. The shares were sold at an average price of $281.81, for a total transaction of $4,108,507.99. Following the transaction, the chairman now directly owns 315,913 shares of the company’s stock, valued at $89,027,442.53. This trade represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Lazarus Krikorian sold 2,000 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $260.06, for a total value of $520,120.00. Following the sale, the chief accounting officer now directly owns 20,154 shares in the company, valued at approximately $5,241,249.24. The trade was a 9.03 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,223 shares of company stock worth $13,580,967. 10.80% of the stock is currently owned by insiders.

Cencora Stock Performance

Shares of COR opened at $283.09 on Friday. Cencora, Inc. has a 52 week low of $214.77 and a 52 week high of $309.35. The company has a quick ratio of 0.54, a current ratio of 0.92 and a debt-to-equity ratio of 16.40. The stock has a market cap of $54.89 billion, a price-to-earnings ratio of 40.27, a PEG ratio of 1.31 and a beta of 0.60. The business has a 50-day simple moving average of $275.89 and a two-hundred day simple moving average of $252.97.

Cencora (NYSE:COR) last released its earnings results on Wednesday, May 7th. The company reported $4.42 EPS for the quarter, topping the consensus estimate of $4.07 by $0.35. Cencora had a net margin of 0.46% and a return on equity of 328.62%. The firm had revenue of $75.50 billion for the quarter, compared to the consensus estimate of $75.41 billion. During the same quarter in the previous year, the firm earned $3.80 earnings per share. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. On average, analysts expect that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Friday, May 16th will be issued a $0.55 dividend. The ex-dividend date is Friday, May 16th. This represents a $2.20 annualized dividend and a dividend yield of 0.78%. Cencora’s payout ratio is 31.29%.

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.