Redwood Park Advisors LLC Takes Position in Cencora, Inc. (NYSE:COR)

Redwood Park Advisors LLC purchased a new stake in shares of Cencora, Inc. (NYSE:COR) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 233 shares of the company’s stock, valued at approximately $52,000.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on COR shares. JPMorgan Chase & Co. boosted their price objective on shares of Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Evercore ISI upped their target price 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. StockNews.com upgraded shares of Cencora from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Finally, Wells Fargo & Company upped their target price on shares of Cencora from $251.00 to $274.00 and gave the company an “equal weight” rating in a research note on Friday, March 14th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $280.20.

Cencora Stock Down 0.3 %

COR opened at $273.87 on Thursday. The firm’s 50-day simple moving average is $259.12 and its 200-day simple moving average is $244.21. The company has a debt-to-equity ratio of 16.40, a quick ratio of 0.54 and a current ratio of 0.92. Cencora, Inc. has a twelve month low of $214.77 and a twelve month high of $296.65. The firm has a market cap of $53.11 billion, a price-to-earnings ratio of 38.96, a PEG ratio of 1.31 and a beta of 0.55.

Cencora (NYSE:COR) last posted 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 net margin of 0.46% and a return on equity of 328.62%. Equities research analysts anticipate that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date was Friday, February 14th. Cencora’s dividend payout ratio is currently 31.29%.

Insider Activity

In other news, EVP Silvana Battaglia sold 5,000 shares of the firm’s stock in a transaction dated 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 owns 15,374 shares of the company’s stock, valued at approximately $3,724,197.76. This trade represents a 24.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Elizabeth S. Campbell sold 4,127 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $268.28, for a total transaction of $1,107,191.56. Following the completion of the transaction, the executive vice president now directly owns 14,665 shares in the company, valued at $3,934,326.20. This trade represents a 21.96 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,675 shares of company stock valued at $8,034,778. 10.80% of the stock is currently owned by insiders.

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.