Worldquant Millennium Advisors LLC Has $86.67 Million Stake in Cencora, Inc. (NYSE:COR)

Worldquant Millennium Advisors LLC increased its stake in shares of Cencora, Inc. (NYSE:COR) by 42.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 385,759 shares of the company’s stock after acquiring an additional 114,806 shares during the period. Worldquant Millennium Advisors LLC owned about 0.20% of Cencora worth $86,672,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. iSAM Funds UK Ltd acquired a new stake in shares of Cencora during the fourth quarter worth $1,113,000. Triglav Skladi D.O.O. bought a new position in Cencora in the fourth quarter valued at $3,640,000. Twinbeech Capital LP bought a new position in Cencora in the fourth quarter valued at $12,929,000. Tidal Investments LLC grew its position in Cencora by 3.1% in the fourth quarter. Tidal Investments LLC now owns 21,319 shares of the company’s stock valued at $4,790,000 after purchasing an additional 635 shares in the last quarter. Finally, Strategic Wealth Partners Ltd. grew its position in Cencora by 34.2% in the fourth quarter. Strategic Wealth Partners Ltd. now owns 31,749 shares of the company’s stock valued at $7,763,000 after purchasing an additional 8,092 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Cencora Stock Up 0.7%

Cencora stock opened at $292.37 on Tuesday. The firm has a market capitalization of $56.70 billion, a PE ratio of 41.59, a P/E/G ratio of 1.31 and a beta of 0.60. The company’s 50-day moving average is $279.87 and its 200-day moving average is $255.76. Cencora, Inc. has a fifty-two week low of $214.77 and a fifty-two week high of $309.35. The company has a debt-to-equity ratio of 16.40, a current ratio of 0.92 and a quick ratio of 0.54.

Cencora (NYSE:COR) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $4.42 EPS for the quarter, beating analysts’ consensus estimates of $4.07 by $0.35. Cencora had a net margin of 0.46% and a return on equity of 328.62%. The business had revenue of $75.50 billion for the quarter, compared to analyst estimates of $75.41 billion. During the same quarter in the prior year, the business earned $3.80 EPS. Cencora’s quarterly revenue was up 10.3% on a year-over-year basis. Sell-side analysts anticipate that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Friday, May 16th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.20 dividend on an annualized basis and a yield of 0.75%. Cencora’s dividend payout ratio (DPR) is currently 25.52%.

Analyst Ratings Changes

A number of research firms recently weighed in on COR. Wells Fargo & Company raised their target price on shares of Cencora from $251.00 to $274.00 and gave the company an “equal weight” rating in a research report on Friday, March 14th. JPMorgan Chase & Co. raised their target price on shares of Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. UBS Group raised their target price on shares of Cencora from $298.00 to $335.00 and gave the company a “buy” rating in a research report on Tuesday, April 29th. Robert W. Baird raised their target price on shares of Cencora from $314.00 to $350.00 and gave the company an “outperform” rating in a research report on Thursday, May 8th. Finally, Morgan Stanley set a $288.00 price objective on shares of Cencora in a research report on Tuesday, April 15th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $301.18.

Insider Activity at Cencora

In related news, EVP Silvana Battaglia sold 5,000 shares of the company’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 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert P. Mauch sold 4,969 shares of the company’s stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $289.33, for a total transaction of $1,437,680.77. Following the completion of the transaction, the chief executive officer now owns 47,582 shares in the company, valued at approximately $13,766,900.06. This trade represents a 9.46% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,223 shares of company stock worth $13,580,967. Insiders own 10.80% of the company’s stock.

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.