1ST Source Bank Makes New Investment in Cencora, Inc. (NYSE:COR)

1ST Source Bank acquired a new position in shares of Cencora, Inc. (NYSE:COR - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 866 shares of the company's stock, valued at approximately $241,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Cornerstone Planning Group LLC increased its holdings in Cencora by 106.7% during the 1st quarter. Cornerstone Planning Group LLC now owns 93 shares of the company's stock worth $26,000 after purchasing an additional 48 shares during the period. Hoey Investments Inc. acquired a new position in shares of Cencora during the 1st quarter worth about $28,000. Banque Transatlantique SA acquired a new position in shares of Cencora during the 4th quarter worth about $29,000. Vermillion Wealth Management Inc. acquired a new stake in shares of Cencora in the 4th quarter valued at about $38,000. Finally, Golden State Wealth Management LLC boosted its position in shares of Cencora by 157.6% in the 1st quarter. Golden State Wealth Management LLC now owns 170 shares of the company's stock valued at $47,000 after purchasing an additional 104 shares during the period. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on COR shares. UBS Group increased their target price on Cencora from $298.00 to $335.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Jefferies Financial Group raised their price objective on Cencora from $275.00 to $300.00 and gave the company a "hold" rating in a research note on Monday, June 30th. Wells Fargo & Company raised Cencora from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $274.00 to $337.00 in a research note on Tuesday, June 3rd. Robert W. Baird raised their price target on Cencora from $314.00 to $350.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Finally, Citigroup raised their price target on Cencora from $330.00 to $355.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Cencora has an average rating of "Moderate Buy" and an average price target of $309.83.

Insider Buying and Selling

In other Cencora news, Chairman Steven H. Collis sold 14,579 shares of the firm's stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $292.62, for a total value of $4,266,106.98. Following the completion of the sale, the chairman directly owned 311,913 shares of the company's stock, valued at $91,271,982.06. This trade represents a 4.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 10.80% of the stock is currently owned by corporate insiders.

Cencora Stock Down 0.1%

Shares of NYSE:COR traded down $0.24 during midday trading on Monday, reaching $292.63. The company's stock had a trading volume of 789,427 shares, compared to its average volume of 1,502,451. The firm has a 50 day moving average of $292.38 and a 200-day moving average of $272.74. The firm has a market capitalization of $56.72 billion, a P/E ratio of 33.95, a PEG ratio of 1.45 and a beta of 0.57. The company has a quick ratio of 0.52, a current ratio of 0.87 and a debt-to-equity ratio of 6.01. Cencora, Inc. has a 12-month low of $218.65 and a 12-month high of $309.35.

Cencora (NYSE:COR - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $4.42 EPS for the quarter, topping 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 analysts' expectations of $75.41 billion. During the same quarter last year, the business earned $3.80 EPS. The firm's revenue was up 10.3% compared to the same quarter last year. On average, research analysts anticipate that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Announces Dividend

The company 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 0.75%. Cencora's dividend payout ratio is currently 25.52%.

Cencora Company Profile

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.