First Business Financial Services Inc. Acquires 330 Shares of Cencora, Inc. (NYSE:COR)

First Business Financial Services Inc. grew its holdings in shares of Cencora, Inc. (NYSE:COR) by 2.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,585 shares of the company’s stock after buying an additional 330 shares during the period. First Business Financial Services Inc.’s holdings in Cencora were worth $3,052,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of COR. State Street Corp lifted its holdings in shares of Cencora by 3.8% in the 3rd quarter. State Street Corp now owns 8,045,896 shares of the company’s stock worth $1,810,970,000 after purchasing an additional 291,867 shares in the last quarter. Wellington Management Group LLP lifted its stake in Cencora by 7.0% during the 3rd quarter. Wellington Management Group LLP now owns 5,193,386 shares of the company’s stock valued at $1,168,927,000 after acquiring an additional 338,452 shares in the last quarter. Geode Capital Management LLC lifted its stake in Cencora by 4.7% during the 3rd quarter. Geode Capital Management LLC now owns 4,195,851 shares of the company’s stock valued at $941,183,000 after acquiring an additional 189,054 shares in the last quarter. Pacer Advisors Inc. lifted its stake in Cencora by 6.7% during the 4th quarter. Pacer Advisors Inc. now owns 2,204,242 shares of the company’s stock valued at $495,249,000 after acquiring an additional 138,868 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its stake in Cencora by 21.7% during the 3rd quarter. Two Sigma Advisers LP now owns 1,638,400 shares of the company’s stock valued at $368,771,000 after acquiring an additional 292,600 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on COR shares. JPMorgan Chase & Co. raised their target price on Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Evercore ISI raised their target price on Cencora from $270.00 to $280.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Wells Fargo & Company raised their target price on Cencora from $237.00 to $251.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 29th. Mizuho started coverage on Cencora in a research report on Wednesday, December 4th. They set an “outperform” rating and a $280.00 target price for the company. Finally, Robert W. Baird raised their target price on Cencora from $287.00 to $292.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $277.90.

Insiders Place Their Bets

In other news, CEO Robert P. Mauch sold 4,970 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $255.00, for a total value of $1,267,350.00. Following the transaction, the chief executive officer now owns 51,070 shares of the company’s stock, valued at $13,022,850. This represents a 8.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Silvana Battaglia sold 1,678 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $228.72, for a total transaction of $383,792.16. Following the completion of the transaction, the executive vice president now directly owns 20,329 shares in the company, valued at $4,649,648.88. The trade was a 7.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,648 shares of company stock worth $2,862,342 in the last quarter. 10.80% of the stock is owned by company insiders.

Cencora Trading Down 0.7 %

Shares of COR opened at $251.40 on Thursday. The business has a 50-day moving average of $243.25 and a 200 day moving average of $238.18. Cencora, Inc. has a fifty-two week low of $214.77 and a fifty-two week high of $262.26. The firm has a market cap of $48.75 billion, a P/E ratio of 35.76, a price-to-earnings-growth ratio of 1.31 and a beta of 0.49. The company has a debt-to-equity ratio of 16.40, a quick ratio of 0.54 and a current ratio of 0.92.

Cencora (NYSE:COR) last issued 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 return on equity of 328.62% and a net margin of 0.46%. As a group, research analysts forecast that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a $0.55 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.20 annualized dividend and a yield of 0.88%. Cencora’s dividend payout ratio is currently 31.29%.

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.