Cencora, Inc. (NYSE:COR) Shares Bought by M&T Bank Corp

M&T Bank Corp grew its holdings in Cencora, Inc. (NYSE:COR - Free Report) by 6.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,627 shares of the company's stock after purchasing an additional 1,035 shares during the quarter. M&T Bank Corp's holdings in Cencora were worth $4,624,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Norges Bank purchased a new position in Cencora during the fourth quarter worth approximately $478,309,000. Bank of America Corp DE raised its holdings in shares of Cencora by 62.3% during the 4th quarter. Bank of America Corp DE now owns 5,193,807 shares of the company's stock worth $1,166,944,000 after acquiring an additional 1,994,256 shares during the period. Castlekeep Investment Advisors LLC acquired a new position in shares of Cencora during the 4th quarter valued at about $399,508,000. GAMMA Investing LLC grew its holdings in shares of Cencora by 43,561.9% in the first quarter. GAMMA Investing LLC now owns 1,598,461 shares of the company's stock valued at $444,516,000 after purchasing an additional 1,594,800 shares during the period. Finally, Invesco Ltd. grew its holdings in shares of Cencora by 20.4% in the fourth quarter. Invesco Ltd. now owns 3,243,531 shares of the company's stock valued at $728,757,000 after purchasing an additional 550,246 shares during the period. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on COR shares. Citigroup boosted their target price on shares of Cencora from $330.00 to $355.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Wells Fargo & Company raised Cencora from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $274.00 to $337.00 in a research note on Tuesday, June 3rd. Jefferies Financial Group lifted their target price on Cencora from $275.00 to $300.00 and gave the company a "hold" rating in a research report on Monday, June 30th. Bank of America increased their price target on Cencora from $270.00 to $285.00 and gave the stock a "neutral" rating in a report on Friday, April 11th. Finally, UBS Group raised their price objective on Cencora from $298.00 to $335.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $306.33.

Cencora Price Performance

Cencora stock opened at $297.33 on Friday. The firm has a market cap of $57.63 billion, a PE ratio of 34.49, a price-to-earnings-growth ratio of 1.49 and a beta of 0.57. The company's 50 day moving average is $291.85 and its two-hundred day moving average is $269.23. Cencora, Inc. has a 52-week low of $218.65 and a 52-week high of $309.35. 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 (NYSE:COR - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $4.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.07 by $0.35. The company had revenue of $75.50 billion during the quarter, compared to the consensus estimate of $75.41 billion. Cencora had a net margin of 0.55% and a return on equity of 344.71%. The firm's quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.80 earnings per share. On average, research analysts expect that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 16th were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend was Friday, May 16th. Cencora's dividend payout ratio (DPR) is 25.52%.

Insider Buying and Selling

In related news, CEO Robert P. Mauch sold 4,969 shares of the stock in a transaction on Monday, April 21st. The shares were sold at an average price of $289.33, for a total value of $1,437,680.77. Following the transaction, the chief executive officer directly owned 47,582 shares of the company's stock, valued at $13,766,900.06. This trade represents a 9.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Steven H. Collis sold 14,579 shares of the company's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $292.62, for a total transaction of $4,266,106.98. Following the completion of the transaction, the chairman owned 311,913 shares of the company's stock, valued at $91,271,982.06. This represents a 4.47% decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,127 shares of company stock valued at $9,812,296 over the last ninety days. 10.80% of the stock is currently owned by corporate insiders.

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.

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