Cencora, Inc. (NYSE:COR) Shares Acquired by Handelsbanken Fonder AB

Handelsbanken Fonder AB boosted its position in Cencora, Inc. (NYSE:COR) by 0.1% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 306,819 shares of the company’s stock after acquiring an additional 290 shares during the quarter. Handelsbanken Fonder AB’s holdings in Cencora were worth $85,323,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in COR. Price T Rowe Associates Inc. MD grew its stake in Cencora by 0.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,859,452 shares of the company’s stock valued at $1,990,542,000 after purchasing an additional 78,066 shares in the last quarter. Bank of America Corp DE grew its position in shares of Cencora by 62.3% during the fourth quarter. Bank of America Corp DE now owns 5,193,807 shares of the company’s stock worth $1,166,944,000 after buying an additional 1,994,256 shares in the last quarter. Boston Partners grew its position in shares of Cencora by 2.6% during the fourth quarter. Boston Partners now owns 5,007,100 shares of the company’s stock worth $1,128,058,000 after buying an additional 125,611 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Cencora by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 4,326,064 shares of the company’s stock worth $969,471,000 after buying an additional 130,213 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in Cencora by 20.4% in the fourth quarter. Invesco Ltd. now owns 3,243,531 shares of the company’s stock valued at $728,757,000 after acquiring an additional 550,246 shares in the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Cencora Stock Performance

Shares of NYSE COR opened at $283.94 on Tuesday. Cencora, Inc. has a 12-month low of $218.65 and a 12-month high of $309.35. The company has a market cap of $55.03 billion, a PE ratio of 40.39, a P/E/G ratio of 1.31 and a beta of 0.58. The stock has a 50 day simple moving average of $286.38 and a 200-day simple moving average of $260.64. 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 (NYSE:COR) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $4.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.07 by $0.35. Cencora had a return on equity of 328.62% and a net margin of 0.46%. The company had revenue of $75.50 billion during the quarter, compared to analyst estimates of $75.41 billion. During the same quarter in the previous year, the firm posted $3.80 EPS. The firm’s quarterly revenue was up 10.3% on a year-over-year basis. On average, equities research analysts forecast that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 16th were given a $0.55 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.20 dividend on an annualized basis and a yield of 0.77%. Cencora’s dividend payout ratio is presently 25.52%.

Insider Buying and Selling at Cencora

In other news, EVP Elizabeth S. Campbell sold 4,127 shares of Cencora 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 transaction, the executive vice president now directly owns 14,665 shares in the company, valued at approximately $3,934,326.20. This trade represents a 21.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert P. Mauch sold 4,969 shares of the company’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 of the company’s stock, valued at approximately $13,766,900.06. This trade represents a 9.46% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,253 shares of company stock valued at $10,582,297. Company insiders own 10.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on COR. UBS Group raised their price objective on shares of Cencora from $298.00 to $335.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Morgan Stanley set a $288.00 price objective on Cencora in a report on Tuesday, April 15th. Wall Street Zen upgraded Cencora from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Bank of America raised their price objective on Cencora from $270.00 to $285.00 and gave the stock a “neutral” rating in a research note on Friday, April 11th. Finally, Citigroup increased their target price on shares of Cencora from $330.00 to $355.00 and gave the stock a “buy” rating in a report on Thursday, May 8th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Cencora currently has an average rating of “Moderate Buy” and an average target price of $306.91.

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.