CX Institutional Buys 5,674 Shares of Cencora, Inc. (NYSE:COR)

CX Institutional grew its holdings in Cencora, Inc. (NYSE:COR - Free Report) by 60.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,016 shares of the company's stock after purchasing an additional 5,674 shares during the period. CX Institutional's holdings in Cencora were worth $4,176,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in COR. Norges Bank bought a new stake in Cencora during the fourth quarter worth $478,309,000. Bank of America Corp DE raised its position 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 acquiring an additional 1,994,256 shares in the last quarter. Castlekeep Investment Advisors LLC bought a new stake in Cencora during the fourth quarter worth $399,508,000. GAMMA Investing LLC raised its position in Cencora by 43,561.9% during the first quarter. GAMMA Investing LLC now owns 1,598,461 shares of the company's stock worth $444,516,000 after acquiring an additional 1,594,800 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Cencora during the fourth quarter worth $322,460,000. 97.52% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on COR shares. Citigroup upped their price objective on shares of Cencora from $330.00 to $355.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Morgan Stanley set a $288.00 price objective on shares of Cencora in a report on Tuesday, April 15th. UBS Group upped their price objective on shares of Cencora from $298.00 to $335.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Robert W. Baird upped their price objective on shares of Cencora from $314.00 to $350.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Finally, Wells Fargo & Company upgraded shares of Cencora from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $274.00 to $337.00 in a report on Tuesday, June 3rd. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, Cencora presently has an average rating of "Moderate Buy" and an average target price of $306.91.

Cencora Stock Performance

Shares of COR stock traded up $0.08 on Friday, hitting $295.12. The company's stock had a trading volume of 966,888 shares, compared to its average volume of 1,526,444. The company has a debt-to-equity ratio of 16.40, a quick ratio of 0.54 and a current ratio of 0.92. The stock's 50 day moving average is $287.24 and its 200-day moving average is $261.65. Cencora, Inc. has a fifty-two week low of $218.65 and a fifty-two week high of $309.35. The company has a market capitalization of $57.20 billion, a PE ratio of 41.98, a PEG ratio of 1.31 and a beta of 0.58.

Cencora (NYSE:COR - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $4.42 EPS for the quarter, beating the consensus estimate of $4.07 by $0.35. Cencora had a net margin of 0.46% and a return on equity of 328.62%. The business had revenue of $75.50 billion for the quarter, compared to the consensus estimate of $75.41 billion. During the same period in the prior year, the company posted $3.80 earnings per share. Cencora's revenue was up 10.3% compared to the same quarter last year. Equities research analysts expect that Cencora, Inc. will post 15.37 earnings per share 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 paid a $0.55 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.20 annualized dividend and a dividend yield of 0.75%. Cencora's dividend payout ratio (DPR) is presently 25.52%.

Insider Activity at Cencora

In related news, Chairman Steven H. Collis sold 14,579 shares of the company's stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $281.81, for a total transaction of $4,108,507.99. Following the completion of the sale, the chairman now owns 315,913 shares of the company's stock, valued at $89,027,442.53. This represents a 4.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Elizabeth S. Campbell sold 4,127 shares of the company's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $268.28, for a total transaction of $1,107,191.56. Following the sale, the executive vice president now directly owns 14,665 shares of the company's stock, valued at $3,934,326.20. This represents a 21.96% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,253 shares of company stock worth $10,582,297. Corporate insiders own 10.80% of the company's stock.

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.