M&T Bank Corp Increases Stock Position in Cencora, Inc. $COR

Key Points

• M&T Bank Corp increased its stake in Cencora by 583.0% in Q4, buying an additional 95,281 shares to hold 111,623 shares worth about $37.7 million (≈0.06% ownership).
• Cencora posted Q EPS of $4.08 (beat by $0.04) while revenue of $85.93B slightly missed estimates; the stock trades near $307.81 with a $59.9B market cap, P/E of 37, a $0.60 quarterly dividend (0.8% yield), and an analyst consensus of "Moderate Buy" with an average target of $398.17.

M&T Bank Corp boosted its stake in Cencora, Inc. (NYSE:COR - Free Report) by 583.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 111,623 shares of the company's stock after purchasing an additional 95,281 shares during the quarter. M&T Bank Corp owned about 0.06% of Cencora worth $37,701,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Optima Capital LLC purchased a new stake in Cencora in the fourth quarter valued at approximately $31,000. IAG Wealth Partners LLC purchased a new stake in Cencora in the third quarter valued at approximately $30,000. Cloud Capital Management LLC purchased a new stake in Cencora in the third quarter valued at approximately $31,000. Caitlin John LLC purchased a new stake in Cencora in the third quarter valued at approximately $31,000. Finally, Harbor Investment Advisory LLC purchased a new stake in Cencora in the fourth quarter valued at approximately $35,000. 97.52% of the stock is owned by hedge funds and other institutional investors.

Cencora Stock Down 1.5%

Shares of NYSE COR opened at $307.81 on Thursday. Cencora, Inc. has a one year low of $271.00 and a one year high of $377.54. The company has a debt-to-equity ratio of 3.62, a current ratio of 0.92 and a quick ratio of 0.51. The firm's 50 day simple moving average is $339.20 and its two-hundred day simple moving average is $343.23. The stock has a market capitalization of $59.88 billion, a P/E ratio of 37.00, a PEG ratio of 1.46 and a beta of 0.72.

Cencora (NYSE:COR - Get Free Report) last issued its quarterly earnings results on Wednesday, February 4th. The company reported $4.08 EPS for the quarter, beating analysts' consensus estimates of $4.04 by $0.04. Cencora had a net margin of 0.50% and a return on equity of 176.54%. The business had revenue of $85.93 billion for the quarter, compared to analysts' expectations of $86.12 billion. During the same period last year, the business earned $3.73 earnings per share. The business's quarterly revenue was up 5.5% on a year-over-year basis. As a group, analysts expect that Cencora, Inc. will post 17.57 EPS for the current fiscal year.

Cencora Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Friday, February 13th were issued a $0.60 dividend. The ex-dividend date was Friday, February 13th. This represents a $2.40 annualized dividend and a dividend yield of 0.8%. Cencora's dividend payout ratio (DPR) is currently 28.85%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Robert W. Baird set a $415.00 price target on shares of Cencora in a research report on Tuesday, January 13th. Bank of America reduced their price target on shares of Cencora from $380.00 to $360.00 and set a "neutral" rating on the stock in a research report on Monday, January 5th. Evercore set a $360.00 price target on shares of Cencora in a research report on Wednesday, April 8th. Jefferies Financial Group upgraded shares of Cencora from an "underperform" rating to a "buy" rating in a research report on Thursday, January 22nd. Finally, Barclays increased their price target on shares of Cencora from $400.00 to $425.00 and gave the company an "overweight" rating in a research report on Friday, February 13th. Twelve equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $398.17.

Cencora Company Profile

Cencora NYSE: COR is a global healthcare services and pharmaceutical distribution company that provides end-to-end solutions across the pharmaceutical supply chain. The company's core activities include wholesale drug distribution, specialty drug distribution, and the operation of specialty pharmacies, complemented by logistics, cold-chain management and other fulfillment services designed to support complex and temperature-sensitive therapies.

Beyond physical distribution, Cencora offers a range of commercial and patient-focused services for pharmaceutical manufacturers and healthcare providers.

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