Cadence Bank Takes $304,000 Position in Cencora, Inc. (NYSE:COR)

Cadence Bank bought a new stake in shares of Cencora, Inc. (NYSE:COR) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,250 shares of the company’s stock, valued at approximately $304,000.

Several other large investors have also recently modified their holdings of COR. Rise Advisors LLC purchased a new position in Cencora during the 1st quarter valued at $25,000. Legacy Bridge LLC purchased a new position in Cencora during the 1st quarter valued at $27,000. TCTC Holdings LLC purchased a new position in Cencora during the 1st quarter valued at $29,000. TFO Wealth Partners LLC purchased a new position in Cencora during the 1st quarter valued at $30,000. Finally, WASHINGTON TRUST Co purchased a new position in Cencora during the 1st quarter valued at $32,000. Institutional investors own 97.52% of the company’s stock.

Cencora Stock Up 0.2 %

Shares of COR traded up $0.46 during trading hours on Friday, hitting $227.57. The company had a trading volume of 1,310,263 shares, compared to its average volume of 1,362,723. The company has a market capitalization of $45.39 billion, a PE ratio of 24.92, a price-to-earnings-growth ratio of 1.57 and a beta of 0.45. The company has a current ratio of 0.89, a quick ratio of 0.53 and a debt-to-equity ratio of 3.41. Cencora, Inc. has a one year low of $171.65 and a one year high of $246.75. The company’s fifty day moving average price is $226.85 and its two-hundred day moving average price is $230.36.

Cencora (NYSE:COR) last released its quarterly earnings results on Wednesday, May 1st. The company reported $3.80 EPS for the quarter, topping the consensus estimate of $3.65 by $0.15. The firm had revenue of $68.41 billion during the quarter, compared to analyst estimates of $70.60 billion. Cencora had a return on equity of 268.67% and a net margin of 0.67%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company posted $3.50 EPS. As a group, equities analysts forecast that Cencora, Inc. will post 13.46 earnings per share for the current fiscal year.

Cencora Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend was Thursday, May 9th. Cencora’s dividend payout ratio is currently 22.32%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. StockNews.com cut Cencora from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 2nd. Citigroup boosted their price objective on Cencora from $265.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. SVB Leerink reiterated an “outperform” rating and issued a $275.00 target price on shares of Cencora in a report on Thursday, June 27th. Finally, Robert W. Baird upped their target price on Cencora from $280.00 to $285.00 and gave the stock an “outperform” rating in a report on Tuesday, July 9th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $238.78.

Insider Activity at Cencora

In related news, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $215.12, for a total transaction of $399,991,976.80. Following the transaction, the insider now directly owns 24,418,171 shares of the company’s stock, valued at approximately $5,252,836,945.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Dermot Mark Durcan acquired 500 shares of the business’s stock in a transaction dated Friday, May 24th. The shares were acquired at an average cost of $218.58 per share, with a total value of $109,290.00. Following the completion of the acquisition, the director now owns 21,876 shares of the company’s stock, valued at $4,781,656.08. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $215.12, for a total value of $399,991,976.80. Following the completion of the transaction, the insider now directly owns 24,418,171 shares in the company, valued at $5,252,836,945.52. The disclosure for this sale can be found here. Insiders have sold 1,899,112 shares of company stock valued at $408,654,376 in the last ninety days. Corporate insiders own 15.80% of the company’s stock.

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.