Gotham Asset Management LLC Acquires 7,711 Shares of Cencora, Inc. (NYSE:COR)

Gotham Asset Management LLC boosted its holdings in Cencora, Inc. (NYSE:COR) by 15.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 58,639 shares of the company’s stock after buying an additional 7,711 shares during the period. Gotham Asset Management LLC’s holdings in Cencora were worth $13,175,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of COR. Price T Rowe Associates Inc. MD raised its stake in Cencora by 0.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,859,452 shares of the company’s stock valued at $1,990,542,000 after purchasing an additional 78,066 shares during the last quarter. Bank of America Corp DE raised its position in shares of Cencora by 62.3% during the fourth quarter. Bank of America Corp DE now owns 5,193,807 shares of the company’s stock valued at $1,166,944,000 after buying an additional 1,994,256 shares during the last quarter. Boston Partners lifted its stake in shares of Cencora by 2.6% in the fourth quarter. Boston Partners now owns 5,007,100 shares of the company’s stock valued at $1,128,058,000 after buying an additional 125,611 shares during the period. Geode Capital Management LLC grew its position in Cencora by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 4,326,064 shares of the company’s stock worth $969,471,000 after buying an additional 130,213 shares in the last quarter. Finally, Invesco Ltd. grew its position in Cencora by 20.4% during the fourth quarter. Invesco Ltd. now owns 3,243,531 shares of the company’s stock worth $728,757,000 after buying an additional 550,246 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

COR has been the subject of a number of recent research reports. Bank of America upped their target price on Cencora from $270.00 to $285.00 and gave the company a “neutral” rating in a research note on Friday, April 11th. JPMorgan Chase & Co. increased 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. Morgan Stanley set a $288.00 target price on shares of Cencora in a research report on Tuesday, April 15th. Evercore ISI increased their price target on shares of Cencora from $270.00 to $280.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Finally, StockNews.com raised Cencora from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Cencora has an average rating of “Moderate Buy” and an average price target of $301.18.

Cencora Stock Performance

Cencora stock opened at $283.12 on Friday. Cencora, Inc. has a 12-month low of $214.77 and a 12-month high of $309.35. The stock has a 50-day simple moving average of $276.48 and a 200 day simple moving average of $253.44. 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 capitalization of $54.90 billion, a price-to-earnings ratio of 40.27, a P/E/G ratio of 1.31 and a beta of 0.60.

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

Cencora Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Friday, May 16th will be given a dividend of $0.55 per share. The ex-dividend date is Friday, May 16th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.78%. Cencora’s payout ratio is currently 25.52%.

Insider Activity

In related news, EVP Silvana Battaglia sold 5,000 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $242.24, for a total value of $1,211,200.00. Following the transaction, the executive vice president now directly owns 15,374 shares in the company, valued at $3,724,197.76. This represents a 24.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Elizabeth S. Campbell sold 4,127 shares of Cencora stock in a transaction on Monday, March 24th. The stock was sold at an average price of $268.28, for a total transaction of $1,107,191.56. Following the sale, the executive vice president now directly owns 14,665 shares of the company’s stock, valued at $3,934,326.20. This represents a 21.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 50,223 shares of company stock valued at $13,580,967 over the last 90 days. 10.80% of the stock is owned by company insiders.

Cencora 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.