Gateway Investment Advisers LLC Boosts Stake in Cencora, Inc. (NYSE:COR)

Gateway Investment Advisers LLC raised its holdings in Cencora, Inc. (NYSE:COR - Free Report) by 11.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,964 shares of the company's stock after acquiring an additional 1,021 shares during the period. Gateway Investment Advisers LLC's holdings in Cencora were worth $2,771,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. JFS Wealth Advisors LLC increased its position in shares of Cencora by 63.0% in the fourth quarter. JFS Wealth Advisors LLC now owns 119 shares of the company's stock worth $27,000 after purchasing an additional 46 shares during the last quarter. Banque Transatlantique SA purchased a new position in Cencora in the 4th quarter worth approximately $29,000. SBI Securities Co. Ltd. bought a new position in shares of Cencora in the 4th quarter worth $30,000. Kentucky Trust Co bought a new position in shares of Cencora in the 4th quarter worth $33,000. Finally, WASHINGTON TRUST Co raised its position in shares of Cencora by 37.7% during the 4th quarter. WASHINGTON TRUST Co now owns 168 shares of the company's stock valued at $38,000 after buying an additional 46 shares in the last quarter. Hedge funds and other institutional investors own 97.52% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. UBS Group upped their target price on shares of Cencora from $298.00 to $335.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Citigroup lifted their price target on Cencora from $330.00 to $355.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Robert W. Baird upped their price objective 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 $288.00 price objective on Cencora in a report on Tuesday, April 15th. Finally, Wells Fargo & Company upgraded Cencora from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $274.00 to $337.00 in a research report on Tuesday, June 3rd. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $306.91.

Insider Buying and Selling at Cencora

In related news, EVP Elizabeth S. Campbell sold 4,127 shares of the firm's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $268.28, for a total value 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 trade represents a 21.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Steven H. Collis sold 14,578 shares of the company's stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $269.51, for a total value of $3,928,916.78. Following the transaction, the chairman now directly owns 317,913 shares of the company's stock, valued at $85,680,732.63. The trade was a 4.38% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 40,253 shares of company stock worth $11,102,417. 10.80% of the stock is currently owned by company insiders.

Cencora Trading Up 0.2%

Shares of COR stock opened at $289.01 on Friday. The business has a 50-day moving average of $286.29 and a 200 day moving average of $260.27. The company has a debt-to-equity ratio of 16.40, a current ratio of 0.92 and a quick ratio of 0.54. Cencora, Inc. has a 1-year low of $218.65 and a 1-year high of $309.35. The stock has a market capitalization of $56.02 billion, a PE ratio of 41.11, a P/E/G ratio of 1.31 and a beta of 0.58.

Cencora (NYSE:COR - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $4.42 earnings per share for the quarter, beating the consensus estimate of $4.07 by $0.35. Cencora had a return on equity of 328.62% and a net margin of 0.46%. The firm had revenue of $75.50 billion during the quarter, compared to the consensus estimate of $75.41 billion. During the same quarter in the previous year, the company posted $3.80 earnings per share. The business's revenue was up 10.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders 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 0.76%. The ex-dividend date of this dividend was Friday, May 16th. Cencora's dividend payout ratio (DPR) is presently 25.52%.

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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