Cencora, Inc. (NYSE:COR) Stake Lifted by MML Investors Services LLC

MML Investors Services LLC raised its stake in Cencora, Inc. (NYSE:COR) by 2.8% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 87,852 shares of the company’s stock after buying an additional 2,402 shares during the quarter. MML Investors Services LLC’s holdings in Cencora were worth $19,739,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in COR. Norges Bank bought a new stake in shares of Cencora during the fourth quarter valued at approximately $478,309,000. Raymond James Financial Inc. bought a new position in Cencora during the 4th quarter valued at $322,460,000. Invesco Ltd. increased its position in shares of Cencora by 20.4% during the 4th quarter. Invesco Ltd. now owns 3,243,531 shares of the company’s stock valued at $728,757,000 after purchasing an additional 550,246 shares during the period. Renaissance Technologies LLC raised its stake in shares of Cencora by 140.6% in the 4th quarter. Renaissance Technologies LLC now owns 550,700 shares of the company’s stock worth $123,731,000 after buying an additional 321,800 shares in the last quarter. Finally, Amundi boosted its stake in Cencora by 30.8% during the fourth quarter. Amundi now owns 1,338,710 shares of the company’s stock valued at $318,385,000 after buying an additional 314,846 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors.

Insider Activity at Cencora

In related news, CAO Lazarus Krikorian sold 2,000 shares of the company’s stock in a transaction 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 completion of the sale, the chief accounting officer now directly owns 20,154 shares of the company’s stock, valued at approximately $5,241,249.24. This represents a 9.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Steven H. Collis sold 14,578 shares of the firm’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $269.51, for a total value of $3,928,916.78. Following the completion of the sale, the chairman now directly owns 317,913 shares in the company, valued at approximately $85,680,732.63. This represents a 4.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,675 shares of company stock valued at $8,034,778. Corporate insiders own 10.80% of the company’s stock.

Cencora Price Performance

Shares of NYSE:COR opened at $281.32 on Tuesday. The business has a fifty day simple moving average of $264.76 and a 200 day simple moving average of $247.76. The company has a current ratio of 0.92, a quick ratio of 0.54 and a debt-to-equity ratio of 16.40. Cencora, Inc. has a 1 year low of $214.77 and a 1 year high of $296.65. The firm has a market cap of $54.55 billion, a price-to-earnings ratio of 40.02, a P/E/G ratio of 1.31 and a beta of 0.55.

Cencora (NYSE:COR) last posted its earnings results on Wednesday, February 5th. The company reported $3.73 EPS for the quarter, topping the consensus estimate of $3.50 by $0.23. Cencora had a net margin of 0.46% and a return on equity of 328.62%. As a group, sell-side analysts predict that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date of this dividend was Friday, February 14th. Cencora’s dividend payout ratio is 31.29%.

Analysts Set New Price Targets

COR has been the subject of a number of research analyst reports. Evercore ISI upped their price target on shares of Cencora from $270.00 to $280.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Wells Fargo & Company lifted their price target on shares of Cencora from $251.00 to $274.00 and gave the stock an “equal weight” rating in a research report on Friday, March 14th. JPMorgan Chase & Co. increased their price objective on Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Bank of America lifted their target price on Cencora from $270.00 to $285.00 and gave the stock a “neutral” rating in a report on Friday, April 11th. Finally, Morgan Stanley set a $288.00 price target on Cencora in a research report on Tuesday, April 15th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $284.55.

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.