First Citizens Bank & Trust Co. Takes $216,000 Position in Cencora, Inc. $COR

First Citizens Bank & Trust Co. acquired a new stake in shares of Cencora, Inc. (NYSE:COR) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 721 shares of the company’s stock, valued at approximately $216,000.

A number of other institutional investors have also recently made changes to their positions in COR. Invesco Ltd. grew its position in shares of Cencora by 42.1% during the first quarter. Invesco Ltd. now owns 4,607,964 shares of the company’s stock valued at $1,281,429,000 after purchasing an additional 1,364,433 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Cencora by 4,459.6% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 997,233 shares of the company’s stock valued at $277,321,000 after acquiring an additional 975,362 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Cencora by 8.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,647,310 shares of the company’s stock valued at $2,682,821,000 after acquiring an additional 787,858 shares during the last quarter. Nuveen LLC bought a new position in shares of Cencora in the 1st quarter valued at about $181,284,000. Finally, Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Cencora by 144.4% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 743,072 shares of the company’s stock valued at $206,641,000 after acquiring an additional 439,008 shares during the last quarter. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Mizuho increased their price target on shares of Cencora from $316.00 to $334.00 and gave the company an “outperform” rating in a report on Thursday, October 16th. Evercore ISI set a $340.00 price target on shares of Cencora in a report on Wednesday, October 8th. Wells Fargo & Company increased their price target on shares of Cencora from $337.00 to $354.00 and gave the company an “overweight” rating in a report on Wednesday, August 13th. Morgan Stanley set a $330.00 price target on shares of Cencora and gave the company an “equal weight” rating in a report on Wednesday, July 16th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cencora in a report on Wednesday, October 8th. Nine research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $324.91.

Cencora Stock Performance

Cencora stock opened at $333.02 on Monday. The company has a 50 day moving average price of $304.09 and a 200-day moving average price of $295.16. The company has a debt-to-equity ratio of 3.64, a quick ratio of 0.53 and a current ratio of 0.90. Cencora, Inc. has a fifty-two week low of $223.92 and a fifty-two week high of $334.34. The company has a market capitalization of $64.56 billion, a PE ratio of 34.26, a P/E/G ratio of 1.55 and a beta of 0.63.

Cencora (NYSE:COR) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $4.00 earnings per share for the quarter, beating the consensus estimate of $3.79 by $0.21. Cencora had a net margin of 0.60% and a return on equity of 267.36%. The firm had revenue of $80.66 billion during the quarter, compared to the consensus estimate of $80.34 billion. During the same quarter in the previous year, the firm posted $3.34 earnings per share. The company’s revenue was up 8.7% on a year-over-year basis. As a group, equities analysts forecast that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th were paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, August 15th. Cencora’s payout ratio is currently 22.63%.

Insider Activity at Cencora

In related news, CEO Robert P. Mauch sold 5,097 shares of Cencora stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $326.80, for a total transaction of $1,665,699.60. Following the transaction, the chief executive officer directly owned 37,940 shares of the company’s stock, valued at $12,398,792. This trade represents a 11.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Steven H. Collis sold 31,350 shares of Cencora stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $289.86, for a total transaction of $9,087,111.00. Following the transaction, the chairman directly owned 305,913 shares in the company, valued at approximately $88,671,942.18. The trade was a 9.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,544 shares of company stock valued at $12,230,941 in the last ninety days. Insiders own 10.80% 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.