1ST Source Bank Takes Position in Cencora, Inc. (NYSE:COR)

1ST Source Bank purchased a new stake in Cencora, Inc. (NYSE:COR - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 866 shares of the company's stock, valued at approximately $241,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Royal London Asset Management Ltd. lifted its stake in Cencora by 2.8% during the 4th quarter. Royal London Asset Management Ltd. now owns 101,284 shares of the company's stock valued at $22,756,000 after acquiring an additional 2,711 shares in the last quarter. Teacher Retirement System of Texas lifted its stake in Cencora by 7.6% in the fourth quarter. Teacher Retirement System of Texas now owns 121,640 shares of the company's stock worth $27,330,000 after acquiring an additional 8,600 shares during the period. Blueshift Asset Management LLC bought a new position in shares of Cencora during the fourth quarter valued at $247,000. Whittier Trust Co. increased its holdings in shares of Cencora by 0.6% during the fourth quarter. Whittier Trust Co. now owns 7,856 shares of the company's stock valued at $1,765,000 after acquiring an additional 44 shares in the last quarter. Finally, Millstone Evans Group LLC bought a new stake in Cencora in the 4th quarter worth about $131,000. Institutional investors own 97.52% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Jefferies Financial Group upped their target price on Cencora from $275.00 to $300.00 and gave the company a "hold" rating in a research report on Monday, June 30th. Citigroup upped their price objective on Cencora from $330.00 to $355.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Robert W. Baird increased their target price on Cencora from $314.00 to $350.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Wells Fargo & Company upgraded Cencora from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $274.00 to $337.00 in a report on Tuesday, June 3rd. Finally, Morgan Stanley set a $330.00 target price on Cencora and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $309.83.

Cencora Stock Down 0.3%

Shares of COR traded down $0.98 during trading hours on Wednesday, hitting $292.00. 173,633 shares of the company were exchanged, compared to its average volume of 1,496,929. Cencora, Inc. has a 52 week low of $218.65 and a 52 week high of $309.35. The company has a debt-to-equity ratio of 6.01, a quick ratio of 0.52 and a current ratio of 0.87. The company has a market cap of $56.59 billion, a PE ratio of 33.87, a PEG ratio of 1.45 and a beta of 0.57. The firm's 50 day moving average is $292.67 and its 200-day moving average is $273.19.

Cencora (NYSE:COR - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $4.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.07 by $0.35. Cencora had a net margin of 0.55% and a return on equity of 344.71%. The company had revenue of $75.50 billion for the quarter, compared to the consensus estimate of $75.41 billion. During the same period in the prior year, the company posted $3.80 EPS. The company's revenue was up 10.3% compared to the same quarter last year. On average, equities research analysts forecast that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Dividend Announcement

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 was Friday, May 16th. This represents a $2.20 annualized dividend and a yield of 0.75%. Cencora's dividend payout ratio (DPR) is presently 25.52%.

Insider Activity

In other news, Chairman Steven H. Collis sold 14,579 shares of the firm's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $292.62, for a total transaction of $4,266,106.98. Following the sale, the chairman directly owned 311,913 shares in the company, valued at $91,271,982.06. This trade represents a 4.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert P. Mauch sold 4,968 shares of the business's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $294.11, for a total transaction of $1,461,138.48. Following the completion of the sale, the chief executive officer owned 42,351 shares of the company's stock, valued at approximately $12,455,852.61. This represents a 10.50% decrease in their position. The disclosure for this sale can be found here. Corporate 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.