AXQ Capital LP Cuts Stock Position in Cencora, Inc. (NYSE:COR)

AXQ Capital LP cut its holdings in Cencora, Inc. (NYSE:COR) by 67.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,332 shares of the company’s stock after selling 8,901 shares during the quarter. AXQ Capital LP’s holdings in Cencora were worth $973,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Whittier Trust Co. grew its stake in Cencora by 0.6% in the fourth quarter. Whittier Trust Co. now owns 7,856 shares of the company’s stock valued at $1,765,000 after purchasing an additional 44 shares during the last quarter. Shepherd Financial Partners LLC grew its stake in Cencora by 0.9% in the fourth quarter. Shepherd Financial Partners LLC now owns 5,441 shares of the company’s stock valued at $1,223,000 after purchasing an additional 46 shares during the last quarter. WASHINGTON TRUST Co grew its stake in Cencora by 37.7% in the fourth quarter. WASHINGTON TRUST Co now owns 168 shares of the company’s stock valued at $38,000 after purchasing an additional 46 shares during the last quarter. JFS Wealth Advisors LLC grew its stake in Cencora by 63.0% in the fourth quarter. JFS Wealth Advisors LLC now owns 119 shares of the company’s stock valued at $27,000 after purchasing an additional 46 shares during the last quarter. Finally, Cullen Frost Bankers Inc. grew its stake in Cencora by 1.1% in the fourth quarter. Cullen Frost Bankers Inc. now owns 4,463 shares of the company’s stock valued at $1,003,000 after purchasing an additional 47 shares during the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Cencora Trading Down 0.3 %

Shares of NYSE:COR opened at $266.91 on Friday. Cencora, Inc. has a 12-month low of $214.77 and a 12-month high of $271.08. The company has a market capitalization of $51.76 billion, a PE ratio of 37.97, a PEG ratio of 1.31 and a beta of 0.51. The business has a 50 day moving average of $250.62 and a two-hundred day moving average of $240.06. The company has a current ratio of 0.92, a quick ratio of 0.54 and a debt-to-equity ratio of 16.40.

Cencora (NYSE:COR) last announced its earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share for the quarter, topping 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%. As a group, analysts forecast that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 0.82%. The ex-dividend date of this dividend was Friday, February 14th. Cencora’s payout ratio is 31.29%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on COR shares. JPMorgan Chase & Co. boosted their price target on Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Wells Fargo & Company boosted their price target on Cencora from $251.00 to $274.00 and gave the stock an “equal weight” rating in a research note on Friday, March 14th. Mizuho started coverage on Cencora in a research note on Wednesday, December 4th. They set an “outperform” rating and a $280.00 price target on the stock. Evercore ISI boosted their price target on Cencora from $270.00 to $280.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Finally, StockNews.com upgraded Cencora from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $280.20.

Insider Buying and Selling

In other Cencora news, EVP Silvana Battaglia sold 5,000 shares of the company’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $242.24, for a total value of $1,211,200.00. Following the completion of the sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Lazarus Krikorian sold 2,000 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $260.06, for a total value of $520,120.00. Following the completion of the sale, the chief accounting officer now owns 20,154 shares of the company’s stock, valued at approximately $5,241,249.24. The trade was a 9.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,970 shares of company stock worth $2,998,670. 10.80% of the stock is owned by corporate insiders.

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.