M&T Bank Corp Has $3.50 Million Position in Cencora, Inc. (NYSE:COR)

M&T Bank Corp grew its holdings in shares of Cencora, Inc. (NYSE:COR) by 4.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,592 shares of the company’s stock after buying an additional 636 shares during the quarter. M&T Bank Corp’s holdings in Cencora were worth $3,503,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. JFS Wealth Advisors LLC lifted its position in Cencora by 63.0% during the 4th quarter. JFS Wealth Advisors LLC now owns 119 shares of the company’s stock worth $27,000 after buying an additional 46 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in Cencora during the 4th quarter worth about $30,000. Householder Group Estate & Retirement Specialist LLC lifted its position in Cencora by 85.2% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 150 shares of the company’s stock worth $33,000 after buying an additional 69 shares in the last quarter. Kentucky Trust Co bought a new stake in shares of Cencora in the 4th quarter valued at about $33,000. Finally, WASHINGTON TRUST Co raised its holdings in shares of Cencora by 37.7% in the 4th quarter. WASHINGTON TRUST Co now owns 168 shares of the company’s stock valued at $38,000 after purchasing an additional 46 shares during the period. 97.52% of the stock is owned by institutional investors.

Cencora Stock Up 0.3 %

Cencora stock opened at $254.54 on Friday. The stock has a market cap of $49.36 billion, a P/E ratio of 36.21, a P/E/G ratio of 1.31 and a beta of 0.51. The company has a quick ratio of 0.54, a current ratio of 0.92 and a debt-to-equity ratio of 16.40. Cencora, Inc. has a twelve month low of $214.77 and a twelve month high of $262.26. The company’s 50-day moving average price is $244.34 and its two-hundred day moving average price is $238.40.

Cencora (NYSE:COR) last released its quarterly earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share for the quarter, beating 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, analysts expect that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend was Friday, February 14th. Cencora’s payout ratio is 31.29%.

Analyst Ratings Changes

COR has been the topic of a number of research analyst reports. Mizuho initiated coverage on shares of Cencora in a report on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 target price on the stock. JPMorgan Chase & Co. upped their target price on shares of Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Wells Fargo & Company upped their target price on shares of Cencora from $237.00 to $251.00 and gave the company an “equal weight” rating in a report on Wednesday, January 29th. Evercore ISI upped their target price on shares of Cencora from $270.00 to $280.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Finally, StockNews.com cut shares of Cencora from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $277.90.

Insider Activity at Cencora

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