KLP Kapitalforvaltning AS Purchases 30,200 Shares of Cencora, Inc. $COR

Key Points

• KLP Kapitalforvaltning AS increased its stake in Cencora, Inc. by 35.1%, acquiring an additional 30,200 shares, bringing its total holdings to 116,281 shares valued at approximately $34.87 million.
• Cencora recently reported a quarterly earnings per share of $4.00, exceeding analysts' expectations, with revenue of $80.66 billion, an increase of 8.7% year-over-year.
• Institutional investors currently own 97.52% of Cencora's stock, with several large firms, including Invesco and T. Rowe Price, significantly increasing their positions in the company.

KLP Kapitalforvaltning AS lifted its position in Cencora, Inc. (NYSE:COR - Free Report) by 35.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 116,281 shares of the company's stock after acquiring an additional 30,200 shares during the quarter. KLP Kapitalforvaltning AS owned 0.06% of Cencora worth $34,867,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in COR. Invesco Ltd. raised its holdings 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. T. Rowe Price Investment Management Inc. raised its holdings in shares of Cencora by 4,459.6% in the first quarter. T. Rowe Price Investment Management Inc. now owns 997,233 shares of the company's stock valued at $277,321,000 after acquiring an additional 975,362 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Cencora by 8.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,647,310 shares of the company's stock valued at $2,682,821,000 after acquiring an additional 787,858 shares in the last quarter. Nuveen LLC bought a new stake in shares of Cencora in the first quarter valued at about $181,284,000. Finally, Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of Cencora by 144.4% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 743,072 shares of the company's stock valued at $206,641,000 after acquiring an additional 439,008 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors.

Cencora Price Performance

COR opened at $308.63 on Wednesday. Cencora, Inc. has a 1 year low of $219.69 and a 1 year high of $315.23. The firm has a market capitalization of $59.84 billion, a PE ratio of 31.75, a price-to-earnings-growth ratio of 1.43 and a beta of 0.63. The company has a debt-to-equity ratio of 3.64, a current ratio of 0.90 and a quick ratio of 0.53. The business's 50-day moving average is $295.45 and its two-hundred day moving average is $290.80.

Cencora (NYSE:COR - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $4.00 earnings per share for the quarter, topping analysts' consensus estimates of $3.79 by $0.21. Cencora had a return on equity of 267.36% and a net margin of 0.60%.The business had revenue of $80.66 billion for the quarter, compared to analyst estimates of $80.34 billion. During the same quarter in the previous year, the firm earned $3.34 earnings per share. The company's revenue was up 8.7% on a year-over-year basis. Research analysts anticipate 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 was paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th were paid a dividend of $0.55 per share. The ex-dividend date was Friday, August 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.7%. Cencora's payout ratio is presently 22.63%.

Insider Transactions at Cencora

In other news, Chairman Steven H. Collis sold 31,350 shares of the business's stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $289.86, for a total transaction of $9,087,111.00. Following the sale, the chairman owned 305,913 shares in the company, valued at approximately $88,671,942.18. The trade was a 9.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert P. Mauch sold 5,097 shares of Cencora stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $290.00, for a total value of $1,478,130.00. Following the sale, the chief executive officer directly owned 39,274 shares of the company's stock, valued at $11,389,460. This trade represents a 11.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,993 shares of company stock worth $16,292,923 in the last 90 days. Insiders own 10.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Weiss Ratings restated a "buy (b)" rating on shares of Cencora in a report on Saturday, September 27th. Jefferies Financial Group lifted their target price on Cencora from $275.00 to $300.00 and gave the company a "hold" rating in a research note on Monday, June 30th. 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. Finally, Wells Fargo & Company lifted 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. Nine analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $314.55.

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.

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