Cencora, Inc. (NYSE:COR) Shares Purchased by CX Institutional

CX Institutional boosted its stake in shares of Cencora, Inc. (NYSE:COR) by 60.7% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 15,016 shares of the company’s stock after acquiring an additional 5,674 shares during the period. CX Institutional’s holdings in Cencora were worth $4,176,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. JFS Wealth Advisors LLC increased its position in shares of 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 in the last quarter. Banque Transatlantique SA acquired a new stake in Cencora during the 4th quarter worth $29,000. SBI Securities Co. Ltd. purchased a new stake in shares of Cencora during the fourth quarter worth $30,000. Kentucky Trust Co acquired a new stake in shares of Cencora in the fourth quarter valued at about $33,000. Finally, WASHINGTON TRUST Co raised its position in shares of Cencora by 37.7% in 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 last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Elizabeth S. Campbell sold 4,127 shares of the firm’s stock in a transaction 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 in the company, valued at $3,934,326.20. This trade represents a 21.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Robert P. Mauch sold 4,969 shares of the business’s stock in a transaction on Monday, April 21st. The shares were sold at an average price of $289.33, for a total value of $1,437,680.77. Following the completion of the sale, the chief executive officer now owns 47,582 shares in the company, valued at $13,766,900.06. This represents a 9.46% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,253 shares of company stock valued at $10,582,297 over the last 90 days. 10.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

COR has been the topic of a number of recent research reports. Citigroup boosted 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. Bank of America upped their price target on Cencora from $270.00 to $285.00 and gave the company a “neutral” rating in a research report on Friday, April 11th. Wall Street Zen upgraded Cencora from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Wells Fargo & Company raised Cencora from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $274.00 to $337.00 in a research note on Tuesday, June 3rd. Finally, Robert W. Baird raised their target price on Cencora from $314.00 to $350.00 and gave the stock an “outperform” rating in a research note on Thursday, May 8th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $306.91.

Cencora Trading Up 0.7%

Shares of Cencora stock opened at $286.34 on Thursday. The stock has a 50 day moving average of $286.42 and a 200 day moving average of $260.98. 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 firm has a market capitalization of $55.50 billion, a price-to-earnings ratio of 40.73, a PEG ratio of 1.31 and a beta of 0.58. Cencora, Inc. has a fifty-two week low of $218.65 and a fifty-two week high of $309.35.

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

Cencora Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 16th were paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend 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.