Gateway Investment Advisers LLC Increases Stake in Cencora, Inc. (NYSE:COR)

Gateway Investment Advisers LLC boosted its stake in Cencora, Inc. (NYSE:COR) by 11.4% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 9,964 shares of the company’s stock after buying an additional 1,021 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Cencora were worth $2,771,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. JFS Wealth Advisors LLC raised its position in shares of Cencora by 63.0% in the 4th quarter. JFS Wealth Advisors LLC now owns 119 shares of the company’s stock worth $27,000 after acquiring an additional 46 shares in the last quarter. Banque Transatlantique SA purchased a new stake in Cencora in the fourth quarter worth $29,000. SBI Securities Co. Ltd. purchased a new stake in Cencora in the fourth quarter worth $30,000. Kentucky Trust Co bought a new position in Cencora in the fourth quarter worth $33,000. Finally, WASHINGTON TRUST Co lifted its position in Cencora by 37.7% during the fourth quarter. WASHINGTON TRUST Co now owns 168 shares of the company’s stock valued at $38,000 after buying an additional 46 shares during the period. 97.52% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

COR has been the topic of a number of recent research reports. Morgan Stanley set a $288.00 target price on shares of Cencora in a research report on Tuesday, April 15th. UBS Group upped their price objective on shares of Cencora from $298.00 to $335.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Wall Street Zen upgraded shares of Cencora from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Bank of America upped their price target on Cencora from $270.00 to $285.00 and gave the stock a “neutral” rating in a research note on Friday, April 11th. Finally, Robert W. Baird lifted their price objective on Cencora from $314.00 to $350.00 and gave the company an “outperform” rating in a research note on Thursday, May 8th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $306.91.

Cencora Trading Up 0.2%

Shares of NYSE COR opened at $289.01 on Friday. The firm’s 50 day moving average price is $286.29 and its 200-day moving average price is $260.27. Cencora, Inc. has a 52-week low of $218.65 and a 52-week high of $309.35. The company has a debt-to-equity ratio of 16.40, a quick ratio of 0.54 and a current ratio of 0.92. The company has a market cap of $56.02 billion, a PE ratio of 41.11, a P/E/G ratio of 1.31 and a beta of 0.58.

Cencora (NYSE:COR) last released its quarterly earnings data 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 return on equity of 328.62% and a net margin of 0.46%. The business had revenue of $75.50 billion for the quarter, compared to analysts’ expectations of $75.41 billion. During the same period in the prior year, the firm posted $3.80 EPS. The firm’s quarterly revenue was up 10.3% on a year-over-year basis. On average, equities research analysts expect that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 16th were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.20 annualized dividend and a dividend yield of 0.76%. Cencora’s dividend payout ratio (DPR) is presently 25.52%.

Insider Buying and Selling

In related news, CAO Lazarus Krikorian sold 2,000 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $260.06, for a total transaction of $520,120.00. Following the transaction, the chief accounting officer now owns 20,154 shares in the company, valued at $5,241,249.24. This represents a 9.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Steven H. Collis sold 14,579 shares of Cencora stock in a transaction that occurred on Tuesday, April 22nd. The stock was sold at an average price of $281.81, for a total transaction of $4,108,507.99. Following the completion of the sale, the chairman now directly owns 315,913 shares of the company’s stock, valued at approximately $89,027,442.53. This trade represents a 4.41% 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 worth $11,102,417. 10.80% of the stock is owned by corporate insiders.

Cencora 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.