IFM Investors Pty Ltd lifted its stake in Cencora, Inc. (NYSE:COR - Free Report) by 14.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,872 shares of the company's stock after purchasing an additional 4,838 shares during the period. IFM Investors Pty Ltd's holdings in Cencora were worth $10,532,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Hoey Investments Inc. bought a new position in shares of Cencora in the first quarter worth about $28,000. Banque Transatlantique SA bought a new position in shares of Cencora in the fourth quarter worth about $29,000. SBI Securities Co. Ltd. bought a new position in shares of Cencora in the fourth quarter worth about $30,000. Vermillion Wealth Management Inc. bought a new position in shares of Cencora in the fourth quarter worth about $38,000. Finally, OFI Invest Asset Management bought a new position in shares of Cencora in the fourth quarter worth about $41,000. 97.52% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on COR shares. Bank of America upped their price target on shares of Cencora from $270.00 to $285.00 and gave the stock a "neutral" rating in a report on Friday, April 11th. Wall Street Zen raised shares of Cencora from a "hold" rating to a "buy" rating in a research report on Wednesday, March 12th. Robert W. Baird raised their target price on shares of Cencora from $314.00 to $350.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. UBS Group raised their target price on shares of Cencora from $298.00 to $335.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Finally, Morgan Stanley set a $288.00 target price on shares of Cencora in a research report on Tuesday, April 15th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $306.33.
Read Our Latest Stock Report on COR
Insiders Place Their Bets
In other Cencora news, CEO Robert P. Mauch sold 4,969 shares of the firm's 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 completion of the transaction, the chief executive officer owned 47,582 shares of the company's stock, valued at approximately $13,766,900.06. This trade represents a 9.46% decrease in their ownership of the stock. 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 firm's stock in a transaction on Tuesday, June 24th. The stock was 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 directly owned 311,913 shares of the company's stock, valued at approximately $91,271,982.06. This represents a 4.47% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,127 shares of company stock valued at $9,812,296. Corporate insiders own 10.80% of the company's stock.
Cencora Stock Down 1.5%
Shares of NYSE:COR traded down $4.43 during trading on Tuesday, reaching $298.07. The stock had a trading volume of 1,159,013 shares, compared to its average volume of 1,508,757. Cencora, Inc. has a one year low of $218.65 and a one year high of $309.35. The company has a market capitalization of $57.77 billion, a P/E ratio of 34.58, a PEG ratio of 1.50 and a beta of 0.57. The company has a current ratio of 0.87, a quick ratio of 0.52 and a debt-to-equity ratio of 6.01. The firm's 50-day simple moving average is $291.57 and its 200 day simple moving average is $268.53.
Cencora (NYSE:COR - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $4.42 earnings per share for the quarter, beating analysts' consensus estimates of $4.07 by $0.35. Cencora had a net margin of 0.55% and a return on equity of 344.71%. The business had revenue of $75.50 billion for the quarter, compared to analysts' expectations of $75.41 billion. During the same period last year, the business earned $3.80 EPS. The company's revenue was up 10.3% compared to the same quarter last year. As a group, research analysts expect that Cencora, Inc. will post 15.37 EPS for the current fiscal year.
Cencora Announces Dividend
The business 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. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.74%. Cencora's dividend payout ratio is currently 25.52%.
About Cencora
(
Free Report)
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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