B. Metzler seel. Sohn & Co. AG Raises Stock Holdings in Cencora, Inc. $COR

Key Points

• B. Metzler seel. Sohn & Co. AG significantly increased its stake in Cencora, Inc. by 141.5% in Q1, now owning 17,847 shares valued at approximately $4.96 million.
• Several institutional investors, including Bank of America and T. Rowe Price, have also increased their holdings, with institutional ownership now at 97.52% of the company's shares.
• Cencora recently declared a quarterly dividend of $0.55 per share, representing an annualized yield of 0.8%, with a payout ratio of 22.63%.

B. Metzler seel. Sohn & Co. AG raised its holdings in shares of Cencora, Inc. (NYSE:COR - Free Report) by 141.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,847 shares of the company's stock after purchasing an additional 10,458 shares during the quarter. B. Metzler seel. Sohn & Co. AG's holdings in Cencora were worth $4,963,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Exchange Traded Concepts LLC lifted its holdings in Cencora by 4.5% during the first quarter. Exchange Traded Concepts LLC now owns 1,104 shares of the company's stock valued at $307,000 after purchasing an additional 48 shares during the last quarter. Dynamic Advisor Solutions LLC lifted its holdings in shares of Cencora by 6.4% in the first quarter. Dynamic Advisor Solutions LLC now owns 1,535 shares of the company's stock worth $427,000 after buying an additional 93 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Cencora by 57.0% in the first quarter. GAMMA Investing LLC now owns 5,748 shares of the company's stock worth $1,598,000 after buying an additional 2,087 shares in the last quarter. Golden State Wealth Management LLC lifted its holdings in shares of Cencora by 157.6% in the first quarter. Golden State Wealth Management LLC now owns 170 shares of the company's stock worth $47,000 after buying an additional 104 shares in the last quarter. Finally, Integrated Advisors Network LLC purchased a new stake in shares of Cencora in the first quarter worth about $200,000. 97.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on COR shares. Morgan Stanley set a $330.00 target price on shares of Cencora and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. 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 report on Wednesday, August 13th. Robert W. Baird increased their price target on shares of Cencora from $314.00 to $350.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Citigroup increased their price target on shares of Cencora from $330.00 to $355.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Finally, Jefferies Financial Group increased their price target 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. Nine investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Cencora has a consensus rating of "Moderate Buy" and an average price target of $311.25.

Insider Transactions at Cencora

In other Cencora news, Chairman Steven H. Collis sold 14,579 shares of the business's stock in a transaction dated 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 transaction, the chairman owned 311,913 shares of the company's stock, valued at approximately $91,271,982.06. The trade was a 4.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Robert P. Mauch sold 4,968 shares of the business's stock in a transaction dated 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 directly owned 42,351 shares of the company's stock, valued at approximately $12,455,852.61. This trade represents a 10.50% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 34,125 shares of company stock valued at $9,993,789. 10.80% of the stock is owned by insiders.

Cencora Stock Up 1.4%

Cencora stock traded up $4.16 on Tuesday, hitting $295.77. 241,624 shares of the stock traded hands, compared to its average volume of 1,544,093. The company has a current ratio of 0.90, a quick ratio of 0.53 and a debt-to-equity ratio of 3.64. The firm has a market cap of $57.34 billion, a P/E ratio of 30.48, a price-to-earnings-growth ratio of 1.38 and a beta of 0.62. The business's fifty day simple moving average is $292.99 and its 200 day simple moving average is $282.75. Cencora, Inc. has a 1 year low of $218.65 and a 1 year high of $309.35.

Cencora (NYSE:COR - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $4.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.79 by $0.21. The firm had revenue of $80.66 billion during the quarter, compared to analyst estimates of $80.34 billion. Cencora had a return on equity of 267.36% and a net margin of 0.60%.Cencora's quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.34 EPS. As a group, sell-side analysts forecast that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Friday, August 15th. This represents a $2.20 dividend on an annualized basis and a yield of 0.7%. Cencora's payout ratio is 22.63%.

Cencora 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.