Mackenzie Financial Corp Increases Holdings in Cencora, Inc. (NYSE:COR)

Mackenzie Financial Corp boosted its stake in Cencora, Inc. (NYSE:COR - Free Report) by 29.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 130,639 shares of the company's stock after buying an additional 29,879 shares during the quarter. Mackenzie Financial Corp owned approximately 0.07% of Cencora worth $29,352,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of COR. Norges Bank purchased a new stake in Cencora in the 4th quarter valued at approximately $478,309,000. Bank of America Corp DE lifted its stake in Cencora by 62.3% in the 4th quarter. Bank of America Corp DE now owns 5,193,807 shares of the company's stock valued at $1,166,944,000 after buying an additional 1,994,256 shares in the last quarter. Castlekeep Investment Advisors LLC purchased a new stake in Cencora in the 4th quarter valued at approximately $399,508,000. Raymond James Financial Inc. purchased a new stake in Cencora in the 4th quarter valued at approximately $322,460,000. Finally, Invesco Ltd. lifted its stake in Cencora by 20.4% in the 4th quarter. Invesco Ltd. now owns 3,243,531 shares of the company's stock valued at $728,757,000 after buying an additional 550,246 shares in the last quarter. Hedge funds and other institutional investors own 97.52% of the company's stock.

Cencora Trading Up 0.6%

Shares of COR stock traded up $1.87 on Friday, reaching $292.56. 253,380 shares of the stock were exchanged, compared to its average volume of 1,534,938. The stock has a market cap of $56.70 billion, a P/E ratio of 41.61, a price-to-earnings-growth ratio of 1.31 and a beta of 0.60. The company has a quick ratio of 0.54, a current ratio of 0.92 and a debt-to-equity ratio of 16.40. The firm has a 50 day moving average of $284.36 and a two-hundred day moving average of $258.25. Cencora, Inc. has a 1-year low of $218.32 and a 1-year 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, topping analysts' consensus estimates of $4.07 by $0.35. The business had revenue of $75.50 billion during the quarter, compared to the consensus estimate of $75.41 billion. Cencora had a return on equity of 328.62% and a net margin of 0.46%. The business's revenue for the quarter 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, research analysts anticipate that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Friday, May 16th will be issued a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.75%. Cencora's payout ratio is 25.52%.

Insider Transactions at Cencora

In related news, Chairman Steven H. Collis sold 14,579 shares of the company's stock in a transaction on Tuesday, April 22nd. The shares were sold at an average price of $281.81, for a total transaction of $4,108,507.99. Following the completion of the sale, the chairman now directly owns 315,913 shares of the company's stock, valued at approximately $89,027,442.53. This represents a 4.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert P. Mauch sold 4,969 shares of the company's 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 sale, the chief executive officer now directly owns 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 disclosure for this sale can be found here. Insiders sold a total of 45,223 shares of company stock worth $12,369,767 in the last ninety days. Insiders own 10.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on COR. Robert W. Baird upped their target price on Cencora from $314.00 to $350.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Citigroup upped their target price on Cencora from $330.00 to $355.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Bank of America boosted their price target on Cencora from $270.00 to $285.00 and gave the company a "neutral" rating in a report on Friday, April 11th. Evercore ISI boosted their price target on Cencora from $270.00 to $280.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Finally, Morgan Stanley set a $288.00 price target on Cencora in a report on Tuesday, April 15th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $301.18.

About Cencora

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.