Kornitzer Capital Management Inc. KS Lowers Stock Holdings in Cencora, Inc. $COR

Kornitzer Capital Management Inc. KS lowered its holdings in Cencora, Inc. (NYSE:COR) by 31.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 30,660 shares of the company’s stock after selling 13,935 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Cencora were worth $10,355,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. PFA Pension Forsikringsaktieselskab purchased a new stake in shares of Cencora in the fourth quarter valued at $59,145,000. Fifth Third Bancorp grew its position in shares of Cencora by 16.2% in the fourth quarter. Fifth Third Bancorp now owns 20,611 shares of the company’s stock valued at $6,961,000 after purchasing an additional 2,877 shares during the period. Total Clarity Wealth Management Inc. grew its position in shares of Cencora by 13.9% in the fourth quarter. Total Clarity Wealth Management Inc. now owns 738 shares of the company’s stock valued at $249,000 after purchasing an additional 90 shares during the period. Jennison Associates LLC grew its position in Cencora by 2.5% during the fourth quarter. Jennison Associates LLC now owns 174,003 shares of the company’s stock valued at $58,770,000 after acquiring an additional 4,174 shares during the period. Finally, Simplicity Wealth LLC grew its position in Cencora by 8.8% during the fourth quarter. Simplicity Wealth LLC now owns 1,110 shares of the company’s stock valued at $375,000 after acquiring an additional 90 shares during the period. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Cencora Price Performance

Shares of NYSE COR opened at $304.18 on Friday. Cencora, Inc. has a 1-year low of $271.00 and a 1-year high of $377.54. The business has a 50-day moving average of $333.36 and a 200-day moving average of $342.95. The company has a debt-to-equity ratio of 3.62, a current ratio of 0.92 and a quick ratio of 0.51. The company has a market capitalization of $59.17 billion, a price-to-earnings ratio of 36.56, a PEG ratio of 1.44 and a beta of 0.65.

Cencora (NYSE:COR) last issued its earnings results on Wednesday, February 4th. The company reported $4.08 earnings per share for the quarter, topping the consensus estimate of $4.04 by $0.04. Cencora had a return on equity of 176.54% and a net margin of 0.50%.The company had revenue of $85.93 billion during the quarter, compared to the consensus estimate of $86.12 billion. During the same quarter in the prior year, the business earned $3.73 earnings per share. The company’s revenue was up 5.5% compared to the same quarter last year. On average, equities analysts anticipate that Cencora, Inc. will post 17.56 EPS for the current fiscal year.

Cencora Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Friday, February 13th were given a $0.60 dividend. The ex-dividend date of this dividend was Friday, February 13th. This represents a $2.40 annualized dividend and a dividend yield of 0.8%. Cencora’s dividend payout ratio is presently 28.85%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on COR. Barclays boosted their price target on Cencora from $400.00 to $425.00 and gave the company an “overweight” rating in a research report on Friday, February 13th. Wells Fargo & Company boosted their price target on Cencora from $405.00 to $429.00 and gave the company an “overweight” rating in a research report on Tuesday, February 10th. Weiss Ratings raised Cencora from a “hold (c+)” rating to a “buy (b)” rating in a research report on Thursday, February 5th. JPMorgan Chase & Co. boosted their price target on Cencora from $417.00 to $419.00 and gave the company an “overweight” rating in a research report on Tuesday, February 10th. Finally, Evercore set a $360.00 price target on Cencora in a research report on Wednesday, April 8th. Twelve investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $398.17.

About Cencora

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.