Fairtree Asset Management Pty Ltd Raises Stock Position in Cencora, Inc. $COR

Fairtree Asset Management Pty Ltd grew its stake in shares of Cencora, Inc. (NYSE:COR) by 84.8% in the third quarter, Holdings Channel.com reports. The fund owned 4,266 shares of the company’s stock after purchasing an additional 1,957 shares during the period. Fairtree Asset Management Pty Ltd’s holdings in Cencora were worth $1,333,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of COR. Cornerstone Wealth Group LLC raised its holdings in Cencora by 1.3% during the third quarter. Cornerstone Wealth Group LLC now owns 2,383 shares of the company’s stock worth $745,000 after purchasing an additional 30 shares during the last quarter. Security Financial Services INC. grew its holdings in Cencora by 2.6% in the third quarter. Security Financial Services INC. now owns 1,325 shares of the company’s stock valued at $414,000 after purchasing an additional 33 shares during the last quarter. Hemington Wealth Management increased its position in shares of Cencora by 12.0% in the third quarter. Hemington Wealth Management now owns 327 shares of the company’s stock valued at $102,000 after buying an additional 35 shares in the last quarter. Quadcap Wealth Management LLC raised its stake in shares of Cencora by 1.5% during the 2nd quarter. Quadcap Wealth Management LLC now owns 2,409 shares of the company’s stock worth $722,000 after buying an additional 36 shares during the last quarter. Finally, Howard Capital Management Inc. boosted its position in shares of Cencora by 2.5% in the 3rd quarter. Howard Capital Management Inc. now owns 1,499 shares of the company’s stock worth $468,000 after buying an additional 37 shares in the last quarter. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Insider Buying and Selling at Cencora

In related news, EVP Silvana Battaglia sold 1,677 shares of the firm’s stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $345.00, for a total value of $578,565.00. Following the sale, the executive vice president directly owned 18,796 shares of the company’s stock, valued at approximately $6,484,620. This trade represents a 8.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Elizabeth S. Campbell sold 3,351 shares of the company’s stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $342.10, for a total transaction of $1,146,377.10. Following the transaction, the executive vice president directly owned 23,891 shares of the company’s stock, valued at $8,173,111.10. This trade represents a 12.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 15,220 shares of company stock worth $5,282,867 in the last 90 days. 0.38% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

COR has been the subject of several recent research reports. Barclays raised their target price on shares of Cencora from $400.00 to $425.00 and gave the company an “overweight” rating in a report on Friday, February 13th. Wells Fargo & Company raised their price objective on shares of Cencora from $405.00 to $429.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 10th. Wall Street Zen lowered Cencora from a “buy” rating to a “hold” rating in a research note on Friday, November 28th. Bank of America lowered their target price on Cencora from $380.00 to $360.00 and set a “neutral” rating on the stock in a report on Monday, January 5th. Finally, Jefferies Financial Group raised Cencora from an “underperform” rating to a “buy” rating in a report on Thursday, January 22nd. Eleven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $399.00.

Cencora Stock Up 1.4%

Shares of NYSE COR opened at $371.86 on Monday. The firm has a market cap of $72.34 billion, a P/E ratio of 44.69, a price-to-earnings-growth ratio of 1.73 and a beta of 0.68. The company has a debt-to-equity ratio of 3.62, a quick ratio of 0.51 and a current ratio of 0.92. Cencora, Inc. has a 1 year low of $248.59 and a 1 year high of $377.54. The firm’s 50 day moving average price is $351.72 and its 200 day moving average price is $334.19.

Cencora (NYSE:COR) last issued its quarterly earnings results on Wednesday, February 4th. The company reported $4.08 earnings per share for the quarter, beating 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 period in the previous year, the firm posted $3.73 EPS. Cencora’s revenue was up 5.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Friday, February 13th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Friday, February 13th. Cencora’s dividend payout ratio (DPR) is presently 28.85%.

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.