Eagle Rock Investment Company LLC Has $10.82 Million Stock Position in Cencora, Inc. (NYSE:COR)

Eagle Rock Investment Company LLC reduced its holdings in shares of Cencora, Inc. (NYSE:COR) by 0.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,912 shares of the company’s stock after selling 128 shares during the quarter. Cencora accounts for about 1.9% of Eagle Rock Investment Company LLC’s holdings, making the stock its 15th biggest position. Eagle Rock Investment Company LLC’s holdings in Cencora were worth $10,821,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in COR. Whittier Trust Co. boosted its holdings in Cencora by 0.6% during the fourth quarter. Whittier Trust Co. now owns 7,856 shares of the company’s stock worth $1,765,000 after purchasing an additional 44 shares during the last quarter. Shepherd Financial Partners LLC boosted its holdings in Cencora by 0.9% during the fourth quarter. Shepherd Financial Partners LLC now owns 5,441 shares of the company’s stock worth $1,223,000 after purchasing an additional 46 shares during the last quarter. WASHINGTON TRUST Co boosted its holdings in Cencora by 37.7% during the fourth quarter. WASHINGTON TRUST Co now owns 168 shares of the company’s stock worth $38,000 after purchasing an additional 46 shares during the last quarter. JFS Wealth Advisors LLC boosted its holdings in 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 during the last quarter. Finally, Cullen Frost Bankers Inc. boosted its holdings in Cencora by 1.1% during the fourth quarter. Cullen Frost Bankers Inc. now owns 4,463 shares of the company’s stock worth $1,003,000 after purchasing an additional 47 shares during the last quarter. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Chairman Steven H. Collis sold 14,579 shares of the company’s stock in a transaction that occurred on Tuesday, April 22nd. The shares were sold at an average price of $281.81, for a total transaction of $4,108,507.99. Following the sale, the chairman now owns 315,913 shares of the company’s stock, valued at approximately $89,027,442.53. This represents a 4.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Elizabeth S. Campbell sold 4,127 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The stock was 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 of the company’s stock, valued at approximately $3,934,326.20. This represents a 21.96% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,253 shares of company stock valued at $11,102,417. Company insiders own 10.80% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on COR shares. Robert W. Baird boosted their price target on shares of Cencora from $314.00 to $350.00 and gave the stock an “outperform” rating in a report on Thursday, May 8th. UBS Group boosted their price target on shares of Cencora from $298.00 to $335.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Bank of America boosted 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. Wells Fargo & Company upgraded shares of Cencora from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $274.00 to $337.00 in a research note on Tuesday. Finally, Citigroup boosted their target price 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. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $306.91.

Cencora Stock Performance

NYSE COR opened at $289.01 on Friday. The company’s 50 day moving average is $286.29 and its 200-day moving average is $260.15. Cencora, Inc. has a 12-month low of $218.65 and a 12-month high of $309.35. The company has a quick ratio of 0.54, a current ratio of 0.92 and a debt-to-equity ratio of 16.40. The firm has a market cap of $56.02 billion, a P/E ratio of 41.11, a price-to-earnings-growth ratio of 1.31 and a beta of 0.58.

Cencora (NYSE:COR) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $4.42 earnings per share (EPS) 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 quarter in the previous year, the firm posted $3.80 earnings per share. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. Sell-side analysts predict that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 16th were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date was Friday, May 16th. Cencora’s dividend payout ratio (DPR) is presently 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.