KLP Kapitalforvaltning AS Decreases Holdings in Cencora, Inc. (NYSE:COR)

KLP Kapitalforvaltning AS lessened its holdings in shares of Cencora, Inc. (NYSE:COR - Free Report) by 1.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 86,081 shares of the company's stock after selling 900 shares during the period. KLP Kapitalforvaltning AS's holdings in Cencora were worth $23,938,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of COR. LPL Financial LLC increased its holdings in Cencora by 7.6% during the 4th quarter. LPL Financial LLC now owns 188,828 shares of the company's stock valued at $42,426,000 after purchasing an additional 13,417 shares during the period. TIAA Trust National Association increased its holdings in Cencora by 1.7% during the 4th quarter. TIAA Trust National Association now owns 73,312 shares of the company's stock valued at $16,472,000 after purchasing an additional 1,204 shares during the period. Meiji Yasuda Asset Management Co Ltd. increased its holdings in Cencora by 2.0% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,245 shares of the company's stock valued at $1,178,000 after purchasing an additional 105 shares during the period. Korea Investment CORP boosted its position in Cencora by 5.3% during the 4th quarter. Korea Investment CORP now owns 130,637 shares of the company's stock valued at $29,352,000 after acquiring an additional 6,600 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Cencora by 7.6% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 278,286 shares of the company's stock valued at $63,783,000 after acquiring an additional 19,544 shares in the last quarter. Hedge funds and other institutional investors own 97.52% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Morgan Stanley set a $330.00 price objective on Cencora and gave the company an "equal weight" rating in a research report on Wednesday, July 16th. Bank of America lifted their price objective on Cencora from $270.00 to $285.00 and gave the company a "neutral" rating in a research report on Friday, April 11th. UBS Group lifted their price objective on Cencora from $298.00 to $335.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Robert W. Baird lifted 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. Finally, Wells Fargo & Company raised Cencora from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $274.00 to $337.00 in a research report on Tuesday, June 3rd. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $309.83.

Cencora Stock Down 0.1%

Shares of COR traded down $0.28 during mid-day trading on Friday, reaching $290.17. The company had a trading volume of 785,267 shares, compared to its average volume of 1,072,635. 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 firm has a 50-day moving average price of $293.31 and a 200 day moving average price of $274.53. Cencora, Inc. has a 52 week low of $218.65 and a 52 week high of $309.35. The company has a market capitalization of $56.24 billion, a price-to-earnings ratio of 33.66, a price-to-earnings-growth ratio of 1.44 and a beta of 0.57.

Cencora (NYSE:COR - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $4.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.07 by $0.35. The business had revenue of $75.50 billion for the quarter, compared to analysts' expectations of $75.41 billion. Cencora had a return on equity of 344.71% and a net margin of 0.55%. The firm's quarterly revenue was up 10.3% on a year-over-year basis. During the same period in the prior year, the firm posted $3.80 EPS. On average, sell-side analysts forecast that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 16th were given a $0.55 dividend. The ex-dividend date was Friday, May 16th. This represents a $2.20 annualized dividend and a yield of 0.76%. Cencora's dividend payout ratio (DPR) is presently 25.52%.

Insider Activity at Cencora

In related news, CEO Robert P. Mauch sold 4,968 shares of the company's stock in a transaction that occurred on 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 approximately $12,455,852.61. This represents a 10.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Steven H. Collis sold 14,579 shares of the business's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $292.62, for a total transaction of $4,266,106.98. Following the sale, 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 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 ninety days. 10.80% of the stock is currently owned by insiders.

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.