BI Asset Management Fondsmaeglerselskab A S Raises Stake in Cencora, Inc. $COR

Key Points

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BI Asset Management Fondsmaeglerselskab A S boosted its position in Cencora, Inc. (NYSE:COR - Free Report) by 1,169.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 93,283 shares of the company's stock after acquiring an additional 85,932 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Cencora were worth $25,941,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. purchased a new position in Cencora in the fourth quarter valued at approximately $67,000. GeoWealth Management LLC increased its stake in Cencora by 5.4% in the fourth quarter. GeoWealth Management LLC now owns 2,642 shares of the company's stock valued at $594,000 after purchasing an additional 136 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Cencora by 5.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,511,004 shares of the company's stock valued at $339,494,000 after purchasing an additional 78,759 shares during the last quarter. Norinchukin Bank The increased its stake in Cencora by 10.1% in the fourth quarter. Norinchukin Bank The now owns 7,970 shares of the company's stock valued at $1,791,000 after purchasing an additional 733 shares during the last quarter. Finally, MetLife Investment Management LLC increased its stake in Cencora by 1.5% in the fourth quarter. MetLife Investment Management LLC now owns 53,573 shares of the company's stock valued at $12,037,000 after purchasing an additional 798 shares during the last quarter. Institutional investors and hedge funds own 97.52% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on COR shares. Wells Fargo & Company increased their price target on shares of Cencora from $337.00 to $354.00 and gave the company an "overweight" rating in a research note on Wednesday, August 13th. Morgan Stanley set a $330.00 price target on shares of Cencora and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. Jefferies Financial Group increased their price target on shares of Cencora from $275.00 to $300.00 and gave the stock a "hold" rating in a research note on Monday, June 30th. UBS Group increased their price target on shares of Cencora from $298.00 to $335.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Finally, Robert W. Baird increased their price target on shares of Cencora from $314.00 to $350.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Nine equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $311.25.

Insiders Place Their Bets

In related news, Chairman Steven H. Collis sold 14,579 shares of Cencora stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $292.62, for a total value of $4,266,106.98. Following the transaction, 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Robert P. Mauch sold 4,968 shares of Cencora stock in a transaction on 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 transaction, the chief executive officer owned 42,351 shares in the company, valued at approximately $12,455,852.61. This trade represents a 10.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,125 shares of company stock worth $9,993,789. 10.80% of the stock is currently owned by insiders.

Cencora Stock Performance

NYSE:COR traded down $10.9810 during midday trading on Friday, reaching $292.2490. The stock had a trading volume of 1,706,519 shares, compared to its average volume of 1,331,423. The firm has a fifty day simple moving average of $293.48 and a two-hundred day simple moving average of $280.44. Cencora, Inc. has a 12-month low of $218.65 and a 12-month high of $309.35. The company has a quick ratio of 0.53, a current ratio of 0.90 and a debt-to-equity ratio of 3.64. The stock has a market cap of $56.66 billion, a P/E ratio of 30.07, a P/E/G ratio of 1.44 and a beta of 0.58.

Cencora (NYSE:COR - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $4.00 earnings per share for the quarter, beating analysts' consensus estimates 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 period last year, the firm posted $3.34 EPS. Cencora's quarterly revenue was up 8.7% on a year-over-year basis. On average, equities analysts expect that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors 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 is Friday, August 15th. Cencora's dividend payout ratio (DPR) is 22.63%.

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.