Federated Hermes Inc. Has $154.27 Million Stock Position in Cencora, Inc. (NYSE:COR)

Key Points

• Federated Hermes Inc. has increased its stake in Cencora, Inc. by 16.5% in the first quarter, owning 554,749 shares valued at approximately $154.27 million.
• Cencora's recent quarterly earnings report indicated a stronger-than-expected performance with $4.42 EPS, exceeding analysts' predictions and a 10.3% year-over-year revenue increase.
• The company announced a quarterly dividend of $0.55 per share, translating to an annualized dividend of $2.20 and a yield of 0.77%.

Federated Hermes Inc. raised its stake in shares of Cencora, Inc. (NYSE:COR - Free Report) by 16.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 554,749 shares of the company's stock after acquiring an additional 78,714 shares during the quarter. Federated Hermes Inc. owned approximately 0.29% of Cencora worth $154,270,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cornerstone Planning Group LLC raised its position in shares of Cencora by 106.7% during the first quarter. Cornerstone Planning Group LLC now owns 93 shares of the company's stock worth $26,000 after acquiring an additional 48 shares during the last quarter. Hoey Investments Inc. bought a new stake in Cencora in the first quarter valued at about $28,000. Banque Transatlantique SA bought a new stake in shares of Cencora in the fourth quarter worth about $29,000. Vermillion Wealth Management Inc. bought a new stake in shares of Cencora in the fourth quarter worth about $38,000. Finally, University of Texas Texas AM Investment Management Co. acquired a new position in shares of Cencora during the first quarter worth about $39,000. 97.52% of the stock is owned by institutional investors.

Insider Transactions at Cencora

In other news, 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 transaction, the chief executive officer directly owned 42,351 shares of the company's stock, valued at $12,455,852.61. The trade was a 10.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Steven H. Collis sold 14,579 shares of the business's stock in a transaction dated Tuesday, June 24th. The shares were 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 directly owned 311,913 shares in the company, valued at $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. Insiders sold a total of 34,125 shares of company stock worth $9,993,789 over the last three months. 10.80% of the stock is owned by company insiders.

Cencora Trading Up 0.7%

Shares of NYSE:COR traded up $1.92 during midday trading on Friday, hitting $288.00. 750,838 shares of the stock were exchanged, compared to its average volume of 1,568,846. The stock has a market capitalization of $55.82 billion, a price-to-earnings ratio of 33.42, a P/E/G ratio of 1.45 and a beta of 0.57. The company has a debt-to-equity ratio of 6.01, a quick ratio of 0.52 and a current ratio of 0.87. The business's 50-day moving average price is $293.13 and its 200 day moving average price is $275.35. Cencora, Inc. has a 12 month low of $218.65 and a 12 month high of $309.35.

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 analysts' consensus estimates of $4.07 by $0.35. The firm had revenue of $75.50 billion for the quarter, compared to analyst estimates of $75.41 billion. Cencora had a return on equity of 344.71% and a net margin of 0.55%. The business's revenue was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.80 EPS. Analysts predict that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 16th were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Friday, May 16th. Cencora's payout ratio is currently 25.52%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Wells Fargo & Company raised Cencora from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $274.00 to $337.00 in a research report on Tuesday, June 3rd. Jefferies Financial Group lifted their price target on Cencora from $275.00 to $300.00 and gave the stock a "hold" rating in a report on Monday, June 30th. Bank of America lifted 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. Robert W. Baird raised their price objective on Cencora from $314.00 to $350.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Finally, Citigroup raised their price objective on Cencora from $330.00 to $355.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $309.83.

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.