Victory Capital Management Inc. Grows Position in Cencora, Inc. (NYSE:COR)

Victory Capital Management Inc. lifted its stake in shares of Cencora, Inc. (NYSE:COR) by 25.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 255,425 shares of the company’s stock after buying an additional 51,345 shares during the quarter. Victory Capital Management Inc.’s holdings in Cencora were worth $57,389,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. State Street Corp grew its stake in Cencora by 3.8% during the 3rd quarter. State Street Corp now owns 8,045,896 shares of the company’s stock valued at $1,810,970,000 after purchasing an additional 291,867 shares in the last quarter. Wellington Management Group LLP grew its stake in Cencora by 7.0% during the 3rd quarter. Wellington Management Group LLP now owns 5,193,386 shares of the company’s stock valued at $1,168,927,000 after purchasing an additional 338,452 shares in the last quarter. Geode Capital Management LLC grew its stake in Cencora by 4.7% during the 3rd quarter. Geode Capital Management LLC now owns 4,195,851 shares of the company’s stock valued at $941,183,000 after purchasing an additional 189,054 shares in the last quarter. Pacer Advisors Inc. grew its stake in Cencora by 6.7% during the 4th quarter. Pacer Advisors Inc. now owns 2,204,242 shares of the company’s stock valued at $495,249,000 after purchasing an additional 138,868 shares in the last quarter. Finally, Two Sigma Advisers LP grew its stake in Cencora by 21.7% during the 3rd quarter. Two Sigma Advisers LP now owns 1,638,400 shares of the company’s stock valued at $368,771,000 after purchasing an additional 292,600 shares in the last quarter. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cencora

In other Cencora news, EVP Silvana Battaglia sold 1,678 shares of Cencora stock in a transaction 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 sale, the executive vice president now owns 20,329 shares of the company’s stock, valued at $4,649,648.88. The trade was a 7.62 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert P. Mauch sold 4,970 shares of Cencora 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 sale, the chief executive officer now directly owns 51,070 shares in the company, valued at $13,022,850. The trade was a 8.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,648 shares of company stock valued at $2,862,342 in the last quarter. Corporate insiders own 10.80% of the company’s stock.

Cencora Trading Up 0.3 %

Shares of NYSE COR opened at $254.54 on Friday. The company has a market cap of $49.36 billion, a price-to-earnings ratio of 36.21, a price-to-earnings-growth ratio of 1.31 and a beta of 0.51. Cencora, Inc. has a 12-month low of $214.77 and a 12-month high of $262.26. 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 stock’s 50 day simple moving average is $244.34 and its 200 day simple moving average is $238.40.

Cencora (NYSE:COR) last announced its earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share for the quarter, beating the consensus estimate of $3.50 by $0.23. Cencora had a return on equity of 328.62% and a net margin of 0.46%. Equities research analysts expect that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 0.86%. The ex-dividend date was Friday, February 14th. Cencora’s payout ratio is currently 31.29%.

Wall Street Analysts Forecast Growth

COR has been the subject of several research reports. Wells Fargo & Company lifted their target price on Cencora from $237.00 to $251.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 29th. Evercore ISI lifted their target price on Cencora from $270.00 to $280.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. lifted their target price on Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Mizuho initiated coverage on Cencora in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 target price for the company. Finally, StockNews.com lowered Cencora from a “buy” rating to a “hold” rating in a research report on Tuesday. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Cencora currently has an average rating of “Moderate Buy” and an average target price of $277.90.

About Cencora

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.