Moore Capital Management LP Invests $363,000 in Cencora, Inc. (NYSE:COR)

Moore Capital Management LP bought a new position in shares of Cencora, Inc. (NYSE:COR) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,616 shares of the company’s stock, valued at approximately $363,000.

A number of other institutional investors and hedge funds have also modified their holdings of COR. JFS Wealth Advisors LLC increased its stake in shares of Cencora by 63.0% during the fourth quarter. JFS Wealth Advisors LLC now owns 119 shares of the company’s stock worth $27,000 after purchasing an additional 46 shares in the last quarter. Banque Transatlantique SA purchased a new stake in shares of Cencora during the fourth quarter worth about $29,000. SBI Securities Co. Ltd. purchased a new stake in shares of Cencora during the fourth quarter worth about $30,000. Householder Group Estate & Retirement Specialist LLC increased its stake in shares of Cencora by 85.2% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 150 shares of the company’s stock worth $33,000 after purchasing an additional 69 shares in the last quarter. Finally, Kentucky Trust Co purchased a new stake in shares of Cencora during the fourth quarter worth about $33,000. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Wall Street Analysts Forecast Growth

COR has been the subject of a number of research reports. Robert W. Baird boosted their target price on shares of Cencora from $314.00 to $350.00 and gave the stock an “outperform” rating in a research note on Thursday, May 8th. Morgan Stanley set a $288.00 price objective on shares of Cencora in a research note on Tuesday, April 15th. Citigroup upped their price objective on shares of Cencora from $330.00 to $355.00 and gave the company a “buy” rating in a research note on Thursday, May 8th. Evercore ISI upped their price objective on shares of Cencora from $270.00 to $280.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Finally, StockNews.com raised shares of Cencora from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $301.18.

Insider Transactions at Cencora

In other news, EVP Silvana Battaglia sold 5,000 shares of the company’s 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 approximately $3,724,197.76. This represents a 24.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Lazarus Krikorian sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $260.06, for a total transaction of $520,120.00. Following the completion of the transaction, the chief accounting officer now owns 20,154 shares in the company, valued at approximately $5,241,249.24. This represents a 9.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,223 shares of company stock worth $13,580,967. 10.80% of the stock is currently owned by insiders.

Cencora Stock Performance

NYSE:COR opened at $279.00 on Wednesday. The company has a debt-to-equity ratio of 16.40, a current ratio of 0.92 and a quick ratio of 0.54. The firm has a market capitalization of $54.10 billion, a price-to-earnings ratio of 39.69, a PEG ratio of 1.31 and a beta of 0.60. The company’s 50-day moving average is $277.02 and its two-hundred day moving average is $253.87. Cencora, Inc. has a 1-year low of $214.77 and a 1-year high of $309.35.

Cencora (NYSE:COR) last posted its earnings results on Wednesday, May 7th. The company reported $4.42 earnings per share for the quarter, beating 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 company had revenue of $75.50 billion for the quarter, compared to analyst estimates of $75.41 billion. During the same period in the previous year, the business posted $3.80 EPS. Cencora’s revenue was up 10.3% on a year-over-year basis. Analysts forecast that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Announces Dividend

The business also recently disclosed 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 of this dividend is Friday, May 16th. This represents a $2.20 annualized dividend and a dividend yield of 0.79%. Cencora’s dividend payout ratio is currently 25.52%.

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.