Swedbank AB Purchases 60,087 Shares of Cencora, Inc. $COR

Key Points

• Swedbank AB has increased its stake in Cencora, Inc. (NYSE:COR) by 4.2% in the first quarter, holding approximately 1.49 million shares valued at $413.2 million.
• Wall Street analysts have a positive outlook on Cencora, with nine analysts rating the stock as a "Buy" and setting price targets as high as $354.
• Cencora recently announced a quarterly dividend of $0.55 per share, resulting in an annualized dividend yield of 0.7%.

Swedbank AB lifted its holdings in Cencora, Inc. (NYSE:COR - Free Report) by 4.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,485,862 shares of the company's stock after acquiring an additional 60,087 shares during the period. Swedbank AB owned approximately 0.77% of Cencora worth $413,203,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Voya Investment Management LLC raised its position in shares of Cencora by 30.2% in the 1st quarter. Voya Investment Management LLC now owns 404,319 shares of the company's stock worth $112,437,000 after acquiring an additional 93,673 shares in the last quarter. Modern Wealth Management LLC raised its position in shares of Cencora by 16.7% in the 1st quarter. Modern Wealth Management LLC now owns 1,039 shares of the company's stock worth $289,000 after acquiring an additional 149 shares in the last quarter. Strs Ohio bought a new position in shares of Cencora in the 1st quarter worth about $16,660,000. Advisors Capital Management LLC raised its position in shares of Cencora by 9.3% in the 1st quarter. Advisors Capital Management LLC now owns 2,747 shares of the company's stock worth $764,000 after acquiring an additional 233 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its stake in shares of Cencora by 8.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 6,240 shares of the company's stock valued at $1,735,000 after buying an additional 506 shares during the period. 97.52% of the stock is owned by institutional investors.

Insider Transactions at Cencora

In other Cencora news, CEO Robert P. Mauch sold 4,968 shares of Cencora stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $294.11, for a total transaction of $1,461,138.48. Following the completion of the transaction, the chief executive officer owned 42,351 shares in the company, valued at approximately $12,455,852.61. The trade was a 10.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Steven H. Collis sold 14,579 shares of Cencora stock in a transaction that occurred 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 directly owned 311,913 shares in the company, valued at approximately $91,271,982.06. This represents a 4.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,125 shares of company stock valued at $9,993,789 in the last quarter. Company insiders own 10.80% of the company's stock.

Cencora Stock Up 0.0%

COR stock traded up $0.03 during mid-day trading on Friday, reaching $302.83. 1,189,360 shares of the company traded hands, compared to its average volume of 1,317,955. The stock has a market cap of $58.71 billion, a price-to-earnings ratio of 31.16, a P/E/G ratio of 1.44 and a beta of 0.62. The company has a quick ratio of 0.53, a current ratio of 0.90 and a debt-to-equity ratio of 3.64. Cencora, Inc. has a fifty-two week low of $218.65 and a fifty-two week high of $309.35. The firm's 50 day moving average price is $293.24 and its 200 day moving average price is $286.00.

Cencora (NYSE:COR - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $4.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.79 by $0.21. The business had revenue of $80.66 billion during the quarter, compared to the consensus estimate of $80.34 billion. Cencora had a return on equity of 267.36% and a net margin of 0.60%.The company's quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.34 EPS. As a group, equities research analysts predict that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th were paid a dividend of $0.55 per share. The ex-dividend date was Friday, August 15th. This represents a $2.20 dividend on an annualized basis and a yield of 0.7%. Cencora's payout ratio is 22.63%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on COR shares. Wells Fargo & Company raised their target price on Cencora from $337.00 to $354.00 and gave the company an "overweight" rating in a research note on Wednesday, August 13th. Jefferies Financial Group raised their target price on Cencora from $275.00 to $300.00 and gave the company a "hold" rating in a research note on Monday, June 30th. Finally, Morgan Stanley set a $330.00 target price on Cencora and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Nine research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Cencora currently has an average rating of "Moderate Buy" and a consensus price target of $311.25.

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.