American Institute for Advanced Investment Management LLP bought a new position in shares of Cencora, Inc. (NYSE:COR - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 14,627 shares of the company's stock, valued at approximately $4,068,000. Cencora accounts for approximately 3.0% of American Institute for Advanced Investment Management LLP's portfolio, making the stock its 5th biggest holding.
A number of other institutional investors have also made changes to their positions in the business. Hickory Asset Management Inc. bought a new stake in shares of Cencora during the fourth quarter worth approximately $572,000. Vontobel Holding Ltd. lifted its holdings in Cencora by 46.9% during the 4th quarter. Vontobel Holding Ltd. now owns 6,245 shares of the company's stock worth $1,403,000 after purchasing an additional 1,995 shares during the last quarter. Westpac Banking Corp lifted its holdings in Cencora by 13.5% during the 4th quarter. Westpac Banking Corp now owns 21,895 shares of the company's stock worth $4,919,000 after purchasing an additional 2,596 shares during the last quarter. CIBC Asset Management Inc boosted its stake in Cencora by 3.3% in the 4th quarter. CIBC Asset Management Inc now owns 40,542 shares of the company's stock valued at $9,101,000 after purchasing an additional 1,305 shares during the period. Finally, Leith Wheeler Investment Counsel Ltd. boosted its stake in Cencora by 5.2% in the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 82,952 shares of the company's stock valued at $18,638,000 after purchasing an additional 4,126 shares during the period. 97.52% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research analysts have weighed in on the company. Morgan Stanley set a $288.00 price objective on Cencora in a research report on Tuesday, April 15th. Bank of America lifted their price objective on shares of Cencora from $270.00 to $285.00 and gave the stock a "neutral" rating in a research note on Friday, April 11th. Wells Fargo & Company raised shares of Cencora from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $274.00 to $337.00 in a report on Tuesday, June 3rd. Citigroup increased their target price on shares of Cencora from $330.00 to $355.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Finally, Wall Street Zen upgraded shares of Cencora from a "hold" rating to a "buy" rating in a research report on Wednesday, March 12th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Cencora presently has a consensus rating of "Moderate Buy" and a consensus target price of $306.91.
Check Out Our Latest Stock Analysis on Cencora
Insider Buying and Selling
In other Cencora news, CEO Robert P. Mauch sold 4,969 shares of the business's stock in a transaction on Monday, April 21st. The shares were sold at an average price of $289.33, for a total transaction of $1,437,680.77. Following the sale, the chief executive officer now owns 47,582 shares of the company's stock, valued at approximately $13,766,900.06. The trade was a 9.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Elizabeth S. Campbell sold 4,127 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $268.28, for a total value of $1,107,191.56. Following the completion of the transaction, the executive vice president now owns 14,665 shares of the company's stock, valued at $3,934,326.20. The trade was a 21.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 38,253 shares of company stock worth $10,582,297 in the last ninety days. 10.80% of the stock is owned by insiders.
Cencora Price Performance
Shares of NYSE:COR traded up $3.72 during midday trading on Wednesday, hitting $296.92. The stock had a trading volume of 1,167,036 shares, compared to its average volume of 1,525,427. The company's 50-day moving average price is $287.98 and its 200-day moving average price is $262.32. The company has a market capitalization of $57.55 billion, a P/E ratio of 34.44, a price-to-earnings-growth ratio of 1.45 and a beta of 0.58. 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 fifty-two week low of $218.65 and a fifty-two week high of $309.35.
Cencora (NYSE:COR - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $75.50 billion for the quarter, compared to analysts' expectations of $75.41 billion. During the same period last year, the firm posted $3.80 earnings per share. The firm's quarterly revenue was up 10.3% compared to the same quarter last year. As a group, equities research analysts predict that Cencora, Inc. will post 15.37 EPS for the current fiscal year.
Cencora Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 16th were issued a dividend of $0.55 per share. The ex-dividend date was Friday, May 16th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.74%. Cencora's dividend payout ratio (DPR) is currently 25.52%.
About Cencora
(
Free Report)
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.
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