Cencora, Inc. $COR Shares Sold by Lansforsakringar Fondforvaltning AB publ

Key Points

• Lansforsakringar Fondforvaltning AB publ reduced its stake in Cencora, Inc. (NYSE:COR) by 2.2%, selling 1,288 shares, but still holds 57,316 shares valued at approximately $15.94 million.
• Several institutional investors, including B. Metzler seel. Sohn & Co. AG and Caisse DE Depot ET Placement DU Quebec, significantly increased their positions in Cencora during the first quarter, indicating growing confidence in the company.
• Cencora's stock has received a consensus average rating of "Moderate Buy" with an average target price of $311.25, reflecting positive sentiment from analysts despite mixed performance in the market.

Lansforsakringar Fondforvaltning AB publ reduced its position in shares of Cencora, Inc. (NYSE:COR - Free Report) by 2.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 57,316 shares of the company's stock after selling 1,288 shares during the quarter. Lansforsakringar Fondforvaltning AB publ's holdings in Cencora were worth $15,939,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its position in shares of Cencora by 8.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,647,310 shares of the company's stock valued at $2,682,821,000 after buying an additional 787,858 shares in the last quarter. Wellington Management Group LLP raised its holdings in Cencora by 7.2% during the 1st quarter. Wellington Management Group LLP now owns 5,421,262 shares of the company's stock valued at $1,507,599,000 after buying an additional 363,402 shares during the period. Boston Partners lifted its position in Cencora by 8.1% in the first quarter. Boston Partners now owns 5,411,193 shares of the company's stock worth $1,505,984,000 after buying an additional 404,093 shares during the last quarter. Bank of America Corp DE boosted its stake in Cencora by 62.3% during the fourth quarter. Bank of America Corp DE now owns 5,193,807 shares of the company's stock worth $1,166,944,000 after buying an additional 1,994,256 shares during the period. Finally, Invesco Ltd. raised its stake in shares of Cencora by 42.1% in the first quarter. Invesco Ltd. now owns 4,607,964 shares of the company's stock valued at $1,281,429,000 after acquiring an additional 1,364,433 shares during the period. Hedge funds and other institutional investors own 97.52% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Citigroup lifted their price target on shares of Cencora from $330.00 to $355.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Jefferies Financial Group upped their target price on Cencora from $275.00 to $300.00 and gave the company a "hold" rating in a research note on Monday, June 30th. Robert W. Baird increased their price target on Cencora from $314.00 to $350.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Morgan Stanley set a $330.00 price objective on Cencora and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Finally, Wells Fargo & Company increased their target price on Cencora from $337.00 to $354.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 13th. Nine research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Cencora has a consensus rating of "Moderate Buy" and an average price target of $311.25.

Insider Buying and Selling at Cencora

In other Cencora news, CEO Robert P. Mauch sold 4,968 shares of the firm's stock in a transaction 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 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Steven H. Collis sold 14,579 shares of the business'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 value of $4,266,106.98. Following the transaction, the chairman owned 311,913 shares in the company, valued at approximately $91,271,982.06. This represents a 4.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,125 shares of company stock worth $9,993,789. Insiders own 10.80% of the company's stock.

Cencora Stock Down 0.2%

Shares of COR stock traded down $0.57 during mid-day trading on Wednesday, hitting $294.28. The stock had a trading volume of 249,289 shares, compared to its average volume of 1,543,742. The firm has a market capitalization of $57.05 billion, a P/E ratio of 30.28, a price-to-earnings-growth ratio of 1.38 and a beta of 0.62. The company has a debt-to-equity ratio of 3.64, a current ratio of 0.90 and a quick ratio of 0.53. Cencora, Inc. has a 12-month low of $218.65 and a 12-month high of $309.35. The firm's 50-day moving average is $293.01 and its two-hundred day moving average is $282.84.

Cencora (NYSE:COR - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $4.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.79 by $0.21. Cencora had a return on equity of 267.36% and a net margin of 0.60%.The business had revenue of $80.66 billion for the quarter, compared to analysts' expectations of $80.34 billion. During the same quarter last year, the firm earned $3.34 EPS. The business's revenue for the quarter was up 8.7% on a year-over-year basis. On average, analysts predict that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, August 15th. Cencora's dividend payout ratio is presently 22.63%.

About Cencora

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.