ING Groep NV Takes $5.96 Million Position in Cencora, Inc. (NYSE:COR)

Key Points

• ING Groep NV acquired 21,437 shares of Cencora, Inc. (NYSE:COR) valued at approximately $5,961,000 in the first quarter.
• Institutional investors own a notable 97.52% of Cencora's stock, indicating significant confidence in the company.
• Cencora announced a quarterly dividend of $0.55, representing an annual yield of 0.7%, and a payout ratio of 25.52%.

ING Groep NV bought a new position in shares of Cencora, Inc. (NYSE:COR - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 21,437 shares of the company's stock, valued at approximately $5,961,000.

Several other large investors have also made changes to their positions in COR. Net Worth Advisory Group raised its holdings in shares of Cencora by 1.4% in the 1st quarter. Net Worth Advisory Group now owns 2,645 shares of the company's stock valued at $736,000 after purchasing an additional 36 shares in the last quarter. Obermeyer Wealth Partners increased its holdings in Cencora by 1.3% in the first quarter. Obermeyer Wealth Partners now owns 2,724 shares of the company's stock valued at $758,000 after buying an additional 36 shares during the last quarter. Cromwell Holdings LLC boosted its position in shares of Cencora by 9.5% during the 1st quarter. Cromwell Holdings LLC now owns 450 shares of the company's stock worth $125,000 after acquiring an additional 39 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC lifted its stake in Cencora by 2.7% during the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,565 shares of the company's stock worth $435,000 after purchasing an additional 41 shares during the last quarter. Finally, Private Trust Co. NA boosted its holdings in Cencora by 2.5% in the first quarter. Private Trust Co. NA now owns 1,933 shares of the company's stock valued at $538,000 after purchasing an additional 47 shares in the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Cencora Trading Down 2.0%

COR traded down $5.60 during midday trading on Thursday, hitting $278.18. The company's stock had a trading volume of 1,732,273 shares, compared to its average volume of 1,066,174. The firm has a market cap of $53.92 billion, a P/E ratio of 28.62, a PEG ratio of 1.40 and a beta of 0.58. Cencora, Inc. has a 52-week low of $218.65 and a 52-week high of $309.35. The company has a current ratio of 0.90, a quick ratio of 0.52 and a debt-to-equity ratio of 3.64. The firm has a 50-day moving average price of $292.63 and a two-hundred day moving average price of $277.30.

Cencora (NYSE:COR - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $4.00 EPS for the quarter, beating the consensus estimate of $3.79 by $0.21. Cencora had a net margin of 0.60% and a return on equity of 267.36%. The firm had revenue of $80.66 billion for the quarter, compared to analyst estimates of $80.34 billion. During the same quarter last year, the firm posted $3.34 earnings per share. Cencora's revenue for the quarter was up 8.7% 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 disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Friday, August 15th. Cencora's dividend payout ratio is presently 25.52%.

Insider Transactions at Cencora

In other Cencora news, Chairman Steven H. Collis sold 14,579 shares of the company's stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $292.62, for a total transaction of $4,266,106.98. Following the sale, the chairman owned 311,913 shares in the company, valued at $91,271,982.06. This represents a 4.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Robert P. Mauch sold 4,968 shares of Cencora stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $294.11, for a total value of $1,461,138.48. Following the completion of the transaction, the chief executive officer owned 42,351 shares of the company's stock, valued at approximately $12,455,852.61. The trade was a 10.50% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,125 shares of company stock valued at $9,993,789. 10.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Jefferies Financial Group increased their target price on shares of Cencora from $275.00 to $300.00 and gave the company a "hold" rating in a research report on Monday, June 30th. Robert W. Baird boosted their target price on Cencora from $314.00 to $350.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Wells Fargo & Company raised Cencora from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $274.00 to $337.00 in a report on Tuesday, June 3rd. UBS Group increased their price target on shares of Cencora from $298.00 to $335.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Finally, Morgan Stanley set a $330.00 target price on shares of Cencora and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Cencora presently has an average rating of "Moderate Buy" and a consensus target price of $309.83.

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.