Cencora, Inc. (NYSE:COR) Holdings Lifted by Park Avenue Securities LLC

Park Avenue Securities LLC lifted its stake in shares of Cencora, Inc. (NYSE:COR - Free Report) by 8.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,679 shares of the company's stock after purchasing an additional 989 shares during the quarter. Park Avenue Securities LLC's holdings in Cencora were worth $3,526,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in COR. Norges Bank acquired a new position in shares of Cencora during the 4th quarter worth $478,309,000. Bank of America Corp DE grew its holdings 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 during the period. Castlekeep Investment Advisors LLC acquired a new position in shares of Cencora during the 4th quarter valued at about $399,508,000. GAMMA Investing LLC grew its holdings in Cencora by 43,561.9% in the first quarter. GAMMA Investing LLC now owns 1,598,461 shares of the company's stock valued at $444,516,000 after purchasing an additional 1,594,800 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in Cencora during the fourth quarter worth approximately $322,460,000. 97.52% of the stock is owned by hedge funds and other institutional investors.

Cencora Stock Performance

COR traded up $7.18 on Thursday, hitting $293.82. 719,382 shares of the company's stock were exchanged, compared to its average volume of 1,683,519. The company has a current ratio of 0.92, a quick ratio of 0.54 and a debt-to-equity ratio of 16.40. The stock has a fifty day moving average of $286.42 and a two-hundred day moving average of $260.98. Cencora, Inc. has a twelve month low of $218.65 and a twelve month high of $309.35. The firm has a market cap of $56.95 billion, a PE ratio of 41.80, a P/E/G ratio of 1.31 and a beta of 0.58.

Cencora (NYSE:COR - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $75.50 billion during the quarter, compared to the consensus estimate of $75.41 billion. Cencora had a net margin of 0.46% and a return on equity of 328.62%. The company's revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.80 earnings per share. On average, research analysts anticipate that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 16th were paid a dividend of $0.55 per share. The ex-dividend date was Friday, May 16th. This represents a $2.20 annualized dividend and a yield of 0.75%. Cencora's payout ratio is 25.52%.

Insider Buying and Selling at Cencora

In other news, EVP Elizabeth S. Campbell sold 4,127 shares of the firm's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $268.28, for a total transaction of $1,107,191.56. Following the completion of the sale, the executive vice president now directly owns 14,665 shares of the company's stock, valued at $3,934,326.20. This trade represents a 21.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 value of $1,437,680.77. Following the completion of the transaction, the chief executive officer now owns 47,582 shares in the company, valued at $13,766,900.06. The trade was a 9.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,253 shares of company stock valued at $10,582,297. Company insiders own 10.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on COR shares. Citigroup increased their target price on Cencora from $330.00 to $355.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. 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 note on Thursday, May 8th. Morgan Stanley set a $288.00 price objective on shares of Cencora in a research report on Tuesday, April 15th. Wells Fargo & Company upgraded Cencora from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $274.00 to $337.00 in a report on Tuesday, June 3rd. Finally, Bank of America lifted their target price on Cencora from $270.00 to $285.00 and gave the stock a "neutral" rating in a research report on Friday, April 11th. 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, Cencora currently has an average rating of "Moderate Buy" and an average target price of $306.91.

Cencora 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.