Cencora, Inc. $COR Stock Position Lifted by Credit Agricole S A

Key Points

• Credit Agricole S A increased its stake in Cencora, Inc. by 23.1%, owning 99,143 shares valued at approximately $27.57 million at the end of the first quarter.
• Analysts have generally assigned a buy rating to Cencora, with price targets ranging from $330.00 to $355.00, while the average target price stands at $311.25.
• Cencora recently announced a quarterly dividend of $0.55 per share, translating to an annualized dividend yield of 0.7%.

Credit Agricole S A boosted its position in shares of Cencora, Inc. (NYSE:COR - Free Report) by 23.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 99,143 shares of the company's stock after purchasing an additional 18,578 shares during the quarter. Credit Agricole S A owned approximately 0.05% of Cencora worth $27,571,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its position in Cencora by 0.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,859,452 shares of the company's stock worth $1,990,542,000 after purchasing an additional 78,066 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Cencora by 7.2% in the first quarter. Wellington Management Group LLP now owns 5,421,262 shares of the company's stock valued at $1,507,599,000 after acquiring an additional 363,402 shares in the last quarter. Boston Partners lifted its position in shares of Cencora by 8.1% in the first quarter. Boston Partners now owns 5,411,193 shares of the company's stock valued at $1,505,984,000 after acquiring an additional 404,093 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Cencora by 62.3% in the fourth quarter. Bank of America Corp DE now owns 5,193,807 shares of the company's stock valued at $1,166,944,000 after acquiring an additional 1,994,256 shares in the last quarter. Finally, Invesco Ltd. lifted its position 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 in the last quarter. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

COR has been the topic of several recent research reports. Robert W. Baird upped their price objective on Cencora from $314.00 to $350.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Jefferies Financial Group upped their price objective on Cencora from $275.00 to $300.00 and gave the company a "hold" rating in a research report on Monday, June 30th. Wells Fargo & Company upped their target price on Cencora from $337.00 to $354.00 and gave the company an "overweight" rating in a research note on Wednesday, August 13th. Citigroup upped their target price on Cencora from $330.00 to $355.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Finally, Morgan Stanley set a $330.00 target price on Cencora and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Nine equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $311.25.

Insider Transactions at Cencora

In related news, Chairman Steven H. Collis sold 14,579 shares of the 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. This represents a 4.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Robert P. Mauch sold 4,968 shares of the stock in a transaction dated Friday, July 18th. The shares were 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 $12,455,852.61. This represents a 10.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,125 shares of company stock valued at $9,993,789 in the last three months. 10.80% of the stock is currently owned by company insiders.

Cencora Trading Down 1.5%

NYSE:COR traded down $4.3250 on Monday, hitting $288.2750. 281,054 shares of the stock were exchanged, compared to its average volume of 1,556,772. The stock has a market cap of $55.89 billion, a PE ratio of 29.63, a PEG ratio of 1.39 and a beta of 0.58. 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 stock has a fifty day moving average of $293.48 and a 200-day moving average of $280.87. Cencora, Inc. has a fifty-two week low of $218.65 and a fifty-two week high of $309.35.

Cencora (NYSE:COR - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $4.00 EPS for the quarter, topping the consensus estimate of $3.79 by $0.21. The company 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%.The firm's revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the firm posted $3.34 earnings per share. As a group, equities analysts expect that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Friday, August 15th will be issued 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 0.8%. Cencora's dividend payout ratio is currently 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.