Park National Corp OH Cuts Stake in Cencora, Inc. $COR

Park National Corp OH reduced its holdings in shares of Cencora, Inc. (NYSE:COR) by 18.4% during the fourth quarter, Holdings Channel reports. The fund owned 29,862 shares of the company’s stock after selling 6,748 shares during the period. Park National Corp OH’s holdings in Cencora were worth $10,086,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Cencora by 4.1% in the 3rd quarter. Vanguard Group Inc. now owns 23,395,547 shares of the company’s stock worth $7,311,810,000 after acquiring an additional 916,506 shares during the last quarter. State Street Corp grew its holdings in shares of Cencora by 9.3% during the 3rd quarter. State Street Corp now owns 9,190,316 shares of the company’s stock valued at $2,872,249,000 after purchasing an additional 782,911 shares during the last quarter. JPMorgan Chase & Co. raised its position in Cencora by 21.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,677,797 shares of the company’s stock worth $1,461,965,000 after purchasing an additional 821,098 shares during the period. Boston Partners raised its position in Cencora by 2.0% in the 3rd quarter. Boston Partners now owns 4,509,165 shares of the company’s stock worth $1,409,152,000 after purchasing an additional 89,506 shares during the period. Finally, Wellington Management Group LLP lifted its stake in Cencora by 3.0% in the third quarter. Wellington Management Group LLP now owns 3,971,121 shares of the company’s stock worth $1,241,094,000 after purchasing an additional 115,278 shares during the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on COR shares. Wells Fargo & Company upped their price target on shares of Cencora from $405.00 to $429.00 and gave the company an “overweight” rating in a research report on Tuesday, February 10th. Morgan Stanley set a $380.00 price objective on Cencora in a report on Tuesday. Barclays increased their target price on Cencora from $400.00 to $425.00 and gave the company an “overweight” rating in a report on Friday, February 13th. Jefferies Financial Group upgraded Cencora from an “underperform” rating to a “buy” rating in a research report on Thursday, January 22nd. Finally, Weiss Ratings raised Cencora from a “hold (c+)” rating to a “buy (b)” rating in a research note on Thursday, February 5th. Twelve investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $403.17.

Insider Buying and Selling at Cencora

In other news, CEO Robert P. Mauch sold 5,096 shares of Cencora stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $354.73, for a total value of $1,807,704.08. Following the sale, the chief executive officer directly owned 66,726 shares in the company, valued at approximately $23,669,713.98. This trade represents a 7.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.38% of the company’s stock.

Cencora Price Performance

Shares of Cencora stock opened at $332.06 on Friday. The company’s fifty day simple moving average is $355.08 and its two-hundred day simple moving average is $339.36. Cencora, Inc. has a 12-month low of $264.33 and a 12-month high of $377.54. The firm has a market cap of $64.59 billion, a PE ratio of 39.91, a price-to-earnings-growth ratio of 1.51 and a beta of 0.68. The company has a quick ratio of 0.51, a current ratio of 0.92 and a debt-to-equity ratio of 3.62.

Cencora (NYSE:COR) last issued its quarterly earnings data on Wednesday, February 4th. The company reported $4.08 EPS for the quarter, beating the consensus estimate of $4.04 by $0.04. The firm had revenue of $85.93 billion during the quarter, compared to the consensus estimate of $86.12 billion. Cencora had a net margin of 0.50% and a return on equity of 176.54%. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.73 earnings per share. As a group, equities analysts expect that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Friday, February 13th were issued a $0.60 dividend. The ex-dividend date was Friday, February 13th. This represents a $2.40 annualized dividend and a yield of 0.7%. Cencora’s dividend payout ratio (DPR) is 28.85%.

About Cencora

Cencora (NYSE:COR) is a global healthcare services and pharmaceutical distribution company that provides end-to-end solutions across the pharmaceutical supply chain. The company’s core activities include wholesale drug distribution, specialty drug distribution, and the operation of specialty pharmacies, complemented by logistics, cold-chain management and other fulfillment services designed to support complex and temperature-sensitive therapies.

Beyond physical distribution, Cencora offers a range of commercial and patient-focused services for pharmaceutical manufacturers and healthcare providers.