Cencora, Inc. (NYSE:COR) Shares Acquired by Skandinaviska Enskilda Banken AB publ

Key Points

• Skandinaviska Enskilda Banken AB publ increased its holdings in Cencora, Inc. by 9.3%, owning approximately 374,389 shares valued at $104.1 million as of its latest SEC filing.
• Cencora reported $4.42 earnings per share for the recent quarter, surpassing analysts' estimates and indicating a 10.3% revenue growth year-over-year.
• The company declared a quarterly dividend of $0.55 per share, translating to an annualized yield of 0.76% and a payout ratio of 25.52%.

Skandinaviska Enskilda Banken AB publ grew its stake in Cencora, Inc. (NYSE:COR - Free Report) by 9.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 374,389 shares of the company's stock after purchasing an additional 31,807 shares during the period. Skandinaviska Enskilda Banken AB publ owned approximately 0.19% of Cencora worth $104,114,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Price T Rowe Associates Inc. MD raised its holdings in shares of Cencora by 0.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,859,452 shares of the company's stock worth $1,990,542,000 after buying an additional 78,066 shares during the period. Bank of America Corp DE raised its holdings in shares of Cencora by 62.3% in the fourth quarter. Bank of America Corp DE now owns 5,193,807 shares of the company's stock worth $1,166,944,000 after buying an additional 1,994,256 shares during the period. Geode Capital Management LLC raised its holdings in shares of Cencora by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 4,326,064 shares of the company's stock worth $969,471,000 after buying an additional 130,213 shares during the period. Invesco Ltd. raised its holdings in shares of Cencora by 20.4% in the fourth quarter. Invesco Ltd. now owns 3,243,531 shares of the company's stock worth $728,757,000 after buying an additional 550,246 shares during the period. Finally, Northern Trust Corp raised its holdings in shares of Cencora by 11.6% in the fourth quarter. Northern Trust Corp now owns 2,421,237 shares of the company's stock worth $544,004,000 after buying an additional 252,028 shares during the period. 97.52% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on COR. Citigroup increased their price target on Cencora from $330.00 to $355.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Morgan Stanley set a $330.00 price objective on Cencora and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. Bank of America raised their price objective on Cencora from $270.00 to $285.00 and gave the stock a "neutral" rating in a report on Friday, April 11th. Jefferies Financial Group raised their price objective on Cencora from $275.00 to $300.00 and gave the stock a "hold" rating in a report on Monday, June 30th. Finally, Robert W. Baird raised their price objective on Cencora from $314.00 to $350.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $309.83.

Cencora Stock Up 1.4%

Shares of Cencora stock traded up $3.92 during trading on Tuesday, reaching $290.12. The company's stock had a trading volume of 316,488 shares, compared to its average volume of 1,578,344. The company has a quick ratio of 0.52, a current ratio of 0.87 and a debt-to-equity ratio of 6.01. The company has a 50-day simple moving average of $293.19 and a two-hundred day simple moving average of $275.13. The company has a market cap of $56.23 billion, a price-to-earnings ratio of 33.68, a P/E/G ratio of 1.44 and a beta of 0.57. Cencora, Inc. has a 1-year low of $218.65 and a 1-year high of $309.35.

Cencora (NYSE:COR - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $4.42 earnings per share (EPS) for the quarter, topping 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 analysts' expectations of $75.41 billion. During the same period last year, the business posted $3.80 earnings per share. The company's revenue for the quarter was up 10.3% compared to the same quarter last year. As a group, equities analysts forecast that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 16th were paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend was Friday, May 16th. Cencora's payout ratio is 25.52%.

Insider Activity

In other news, Chairman Steven H. Collis sold 14,579 shares of the firm's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $292.62, for a total value of $4,266,106.98. Following the completion of the transaction, the chairman directly owned 311,913 shares in the company, valued at $91,271,982.06. This trade represents a 4.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Robert P. Mauch sold 4,968 shares of the firm's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $294.11, for a total value of $1,461,138.48. Following the completion of the transaction, the chief executive officer owned 42,351 shares of the company's stock, valued at approximately $12,455,852.61. The trade was a 10.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,125 shares of company stock valued at $9,993,789. Company insiders own 10.80% of the company's stock.

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.