T. Rowe Price Investment Management Inc. Boosts Stake in Cencora, Inc. $COR

Key Points

• T. Rowe Price Investment Management Inc. significantly increased its stake in Cencora, Inc. by 4,459.6% during the first quarter, owning a total of 997,233 shares valued at approximately $277 million.
• Analyst ratings for Cencora indicate a generally positive outlook, with nine analysts rating it as "Buy" and a price target average of $311.25, reflecting strong growth potential.
• Cencora recently announced a quarterly dividend of $0.55 per share, which represents a dividend yield of 0.7%, highlighting its commitment to returning value to shareholders.

T. Rowe Price Investment Management Inc. lifted its stake in shares of Cencora, Inc. (NYSE:COR - Free Report) by 4,459.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 997,233 shares of the company's stock after purchasing an additional 975,362 shares during the period. T. Rowe Price Investment Management Inc. owned 0.51% of Cencora worth $277,321,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Net Worth Advisory Group lifted its holdings in shares of Cencora by 1.4% during the 1st quarter. Net Worth Advisory Group now owns 2,645 shares of the company's stock worth $736,000 after acquiring an additional 36 shares during the last quarter. Obermeyer Wealth Partners lifted its holdings in shares of Cencora by 1.3% during the 1st quarter. Obermeyer Wealth Partners now owns 2,724 shares of the company's stock worth $758,000 after acquiring an additional 36 shares during the last quarter. Cromwell Holdings LLC lifted its holdings in shares of Cencora by 9.5% during the 1st quarter. Cromwell Holdings LLC now owns 450 shares of the company's stock worth $125,000 after acquiring an additional 39 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC lifted its holdings in shares of Cencora by 2.7% during the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,565 shares of the company's stock worth $435,000 after acquiring an additional 41 shares during the last quarter. Finally, Private Trust Co. NA lifted its holdings in shares of Cencora by 2.5% during the 1st quarter. Private Trust Co. NA now owns 1,933 shares of the company's stock worth $538,000 after acquiring an additional 47 shares during the last quarter. Hedge funds and other institutional investors own 97.52% of the company's stock.

Analyst Ratings Changes

COR has been the subject of a number of research analyst reports. Wells Fargo & Company lifted their price objective on shares of Cencora from $337.00 to $354.00 and gave the stock an "overweight" rating in a report on Wednesday, August 13th. Jefferies Financial Group boosted their price target on shares of Cencora from $275.00 to $300.00 and gave the stock a "hold" rating in a research note on Monday, June 30th. UBS Group boosted their price target on shares of Cencora from $298.00 to $335.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Citigroup boosted their price target on shares of Cencora from $330.00 to $355.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Finally, Robert W. Baird boosted their price target on shares of Cencora from $314.00 to $350.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Nine analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $311.25.

Insider Activity

In related news, Chairman Steven H. Collis sold 14,579 shares of the business's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $292.62, for a total transaction of $4,266,106.98. Following the transaction, the chairman owned 311,913 shares in the company, valued at $91,271,982.06. The trade was a 4.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Robert P. Mauch sold 4,968 shares of the company's 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 sale, the chief executive officer owned 42,351 shares in the company, valued at approximately $12,455,852.61. This trade represents a 10.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,125 shares of company stock worth $9,993,789 in the last quarter. 10.80% of the stock is owned by corporate insiders.

Cencora Stock Performance

Shares of NYSE:COR opened at $303.2610 on Thursday. The company has a market cap of $58.80 billion, a price-to-earnings ratio of 31.20, a price-to-earnings-growth ratio of 1.40 and a beta of 0.58. The company has a 50-day moving average price of $293.37 and a 200-day moving average price of $279.82. The company has a current ratio of 0.90, a quick ratio of 0.53 and a debt-to-equity ratio of 3.64. Cencora, Inc. has a 12 month low of $218.65 and a 12 month high of $309.35.

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

Cencora Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, August 15th. Cencora's dividend payout ratio is 22.63%.

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.

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