Ledyard National Bank Purchases 1,101 Shares of Cencora, Inc. (NYSE:COR)

Ledyard National Bank boosted its holdings in shares of Cencora, Inc. (NYSE:COR - Free Report) by 14.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,923 shares of the company's stock after acquiring an additional 1,101 shares during the quarter. Ledyard National Bank's holdings in Cencora were worth $2,481,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in COR. Hoey Investments Inc. acquired a new position in shares of Cencora in the first quarter worth approximately $28,000. Banque Transatlantique SA bought a new position in Cencora during the 4th quarter worth approximately $29,000. SBI Securities Co. Ltd. acquired a new position in shares of Cencora in the 4th quarter worth approximately $30,000. Vermillion Wealth Management Inc. bought a new stake in shares of Cencora in the 4th quarter valued at $38,000. Finally, OFI Invest Asset Management bought a new stake in shares of Cencora in the 4th quarter valued at $41,000. 97.52% of the stock is owned by institutional investors.

Cencora Stock Down 0.8%

COR stock traded down $2.21 during trading on Wednesday, reaching $291.91. 884,974 shares of the stock were exchanged, compared to its average volume of 1,517,913. The firm's 50 day moving average is $289.36 and its 200 day moving average is $263.98. The firm has a market cap of $56.58 billion, a P/E ratio of 33.86, a price-to-earnings-growth ratio of 1.45 and a beta of 0.58. The company has a current ratio of 0.87, a quick ratio of 0.52 and a debt-to-equity ratio of 6.01. Cencora, Inc. has a twelve month low of $218.65 and a twelve month high of $309.35.

Cencora (NYSE:COR - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $4.42 EPS for the quarter, beating the consensus estimate of $4.07 by $0.35. Cencora had a return on equity of 344.71% and a net margin of 0.55%. 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 company's quarterly revenue was up 10.3% on a year-over-year basis. As a group, research 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. Shareholders 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 0.75%. The ex-dividend date was Friday, May 16th. Cencora's dividend payout ratio (DPR) is 25.52%.

Insider Activity

In other Cencora news, 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 transaction, the chairman now directly owns 311,913 shares in the company, valued at approximately $91,271,982.06. This trade represents a 4.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert P. Mauch sold 4,969 shares of Cencora stock in a transaction on Monday, April 21st. The stock was sold at an average price of $289.33, for a total transaction of $1,437,680.77. Following the transaction, the chief executive officer now directly owns 47,582 shares in the company, valued at $13,766,900.06. This represents a 9.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,127 shares of company stock worth $9,812,296 over the last three months. 10.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

COR has been the subject of a number of analyst reports. Robert W. Baird lifted their target price on shares of Cencora from $314.00 to $350.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. UBS Group increased their price target on Cencora from $298.00 to $335.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Citigroup boosted their price objective on Cencora from $330.00 to $355.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Wells Fargo & Company upgraded Cencora from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $274.00 to $337.00 in a research report on Tuesday, June 3rd. Finally, Wall Street Zen upgraded Cencora from a "hold" rating to a "buy" rating in a report on Wednesday, March 12th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Cencora presently has an average rating of "Moderate Buy" and a consensus target price of $306.91.

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.