Permanent Capital Management LP Has $344,000 Stock Position in Cencora, Inc. (NYSE:COR)

Permanent Capital Management LP increased its position in shares of Cencora, Inc. (NYSE:COR) by 4.0% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 1,238 shares of the company’s stock after buying an additional 48 shares during the quarter. Permanent Capital Management LP’s holdings in Cencora were worth $344,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of COR. Norges Bank acquired a new position in Cencora during the 4th quarter worth $478,309,000. Bank of America Corp DE increased its stake in shares of Cencora by 62.3% in the fourth quarter. Bank of America Corp DE now owns 5,193,807 shares of the company’s stock worth $1,166,944,000 after purchasing an additional 1,994,256 shares during the period. Castlekeep Investment Advisors LLC bought a new position in shares of Cencora in the fourth quarter worth about $399,508,000. GAMMA Investing LLC lifted its position in shares of Cencora by 43,561.9% during the 1st quarter. GAMMA Investing LLC now owns 1,598,461 shares of the company’s stock worth $444,516,000 after purchasing an additional 1,594,800 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Cencora during the 4th quarter valued at approximately $322,460,000. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have commented on COR shares. Evercore ISI lifted their price target on Cencora from $270.00 to $280.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Wall Street Zen raised shares of Cencora from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Bank of America upped their target price on shares of Cencora from $270.00 to $285.00 and gave the company a “neutral” rating in a research note on Friday, April 11th. Citigroup raised their price target on shares of Cencora from $330.00 to $355.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. Finally, UBS Group upped their price objective 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. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $306.91.

Insider Transactions at Cencora

In other news, Chairman Steven H. Collis sold 14,578 shares of the company’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $269.51, for a total value of $3,928,916.78. Following the sale, the chairman now owns 317,913 shares of the company’s stock, valued at approximately $85,680,732.63. This represents a 4.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Lazarus Krikorian sold 2,000 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $260.06, for a total transaction of $520,120.00. Following the sale, the chief accounting officer now owns 20,154 shares of the company’s stock, valued at $5,241,249.24. This trade represents a 9.03% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 40,253 shares of company stock valued at $11,102,417. Corporate insiders own 10.80% of the company’s stock.

Cencora Trading Down 0.4%

Shares of Cencora stock opened at $287.91 on Friday. Cencora, Inc. has a 52-week low of $218.65 and a 52-week high of $309.35. The firm has a market capitalization of $55.80 billion, a PE ratio of 40.95, a price-to-earnings-growth ratio of 1.31 and a beta of 0.58. 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 company’s fifty day moving average price is $286.06 and its two-hundred day moving average price is $259.82.

Cencora (NYSE:COR) last issued 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 business 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 earned $3.80 EPS. The firm’s revenue was up 10.3% on a year-over-year basis. On average, analysts expect that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 16th were paid a $0.55 dividend. The ex-dividend date was Friday, May 16th. This represents a $2.20 annualized dividend and a dividend yield of 0.76%. Cencora’s dividend payout ratio is currently 25.52%.

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.