Park National Corp OH Acquires 39,594 Shares of Cencora, Inc. $COR

Park National Corp OH boosted its holdings in shares of Cencora, Inc. (NYSE:COR) by 115.2% in the third quarter, according to its most recent filing with the SEC. The firm owned 73,966 shares of the company’s stock after acquiring an additional 39,594 shares during the period. Park National Corp OH’s holdings in Cencora were worth $22,208,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. MCF Advisors LLC lifted its stake in shares of Cencora by 11.0% in the 4th quarter. MCF Advisors LLC now owns 303 shares of the company’s stock valued at $102,000 after purchasing an additional 30 shares during the period. Steph & Co. increased its holdings in Cencora by 23.5% in the first quarter. Steph & Co. now owns 168 shares of the company’s stock valued at $53,000 after purchasing an additional 32 shares during the last quarter. Cornerstone Wealth Group LLC increased its holdings in Cencora by 1.6% in the first quarter. Cornerstone Wealth Group LLC now owns 2,434 shares of the company’s stock valued at $760,000 after purchasing an additional 38 shares during the last quarter. OLD National Bancorp IN lifted its stake in Cencora by 0.4% in the first quarter. OLD National Bancorp IN now owns 9,964 shares of the company’s stock valued at $3,130,000 after buying an additional 40 shares during the period. Finally, Staley Capital Advisers Inc. boosted its holdings in Cencora by 0.7% during the first quarter. Staley Capital Advisers Inc. now owns 6,127 shares of the company’s stock worth $1,925,000 after buying an additional 40 shares during the last quarter. Institutional investors own 97.52% of the company’s stock.

Cencora Stock Up 2.0%

NYSE COR traded up $6.25 on Monday, reaching $315.30. The company had a trading volume of 289,101 shares, compared to its average volume of 1,487,207. The company’s fifty day moving average is $318.13 and its 200-day moving average is $303.07. The firm has a market capitalization of $60.17 billion, a price-to-earnings ratio of 23.44, a price-to-earnings-growth ratio of 1.59 and a beta of 0.58. The company has a debt-to-equity ratio of 3.53, a quick ratio of 0.58 and a current ratio of 0.93. Cencora, Inc. has a 1-year low of $244.82 and a 1-year high of $377.54.

Cencora (NYSE:COR) last released its quarterly earnings results on Wednesday, August 5th. The company reported $4.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.35 by $0.13. The firm had revenue of $84.75 billion for the quarter, compared to the consensus estimate of $84.31 billion. Cencora had a return on equity of 125.45% and a net margin of 0.79%.The company’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter last year, the business posted $4.00 EPS. On average, research analysts forecast that Cencora, Inc. will post 17.87 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Friday, August 14th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $2.40 dividend on an annualized basis and a yield of 0.8%. Cencora’s dividend payout ratio is 17.83%.

Insider Buying and Selling at Cencora

In other news, EVP Elizabeth Campbell sold 11,300 shares of Cencora stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $324.12, for a total value of $3,662,556.00. Following the sale, the executive vice president directly owned 19,455 shares in the company, valued at $6,305,754.60. This trade represents a 36.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.38% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Wells Fargo & Company increased their price target on shares of Cencora from $331.00 to $395.00 and gave the company an “overweight” rating in a research report on Tuesday, August 11th. Morgan Stanley increased their target price on shares of Cencora from $342.00 to $346.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Royal Bank Of Canada reissued a “sector perform” rating and set a $330.00 price target on shares of Cencora in a research report on Tuesday, September 8th. Evercore reissued an “outperform” rating and issued a $350.00 price target on shares of Cencora in a report on Thursday, August 6th. Finally, Bank of America raised their price objective on Cencora from $280.00 to $285.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 24th. Thirteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $370.85.

Cencora Company Profile

Cencora, formerly known as AmerisourceBergen, is a global pharmaceutical solutions company that sources, distributes and supports the delivery of medicines and healthcare products. The company serves pharmaceutical manufacturers, healthcare providers, pharmacies and animal-health customers through its supply-chain and commercialization services.

Its activities include pharmaceutical and specialty-product distribution, manufacturer services, specialty logistics, clinical-trial support, patient-support programs and other services designed to help bring medicines to market and improve access to treatment.