Truist Financial Corp raised its holdings in shares of Cencora, Inc. (NYSE:COR - Free Report) by 13.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 386,199 shares of the company's stock after acquiring an additional 45,185 shares during the period. Truist Financial Corp owned approximately 0.20% of Cencora worth $107,398,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in COR. Norges Bank acquired a new stake in shares of Cencora in the fourth quarter valued at about $478,309,000. Bank of America Corp DE increased its position in 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 last quarter. Castlekeep Investment Advisors LLC purchased a new position in shares of Cencora in the fourth quarter valued at $399,508,000. GAMMA Investing LLC raised its holdings in shares of Cencora by 43,561.9% in the 1st quarter. GAMMA Investing LLC now owns 1,598,461 shares of the company's stock valued at $444,516,000 after acquiring an additional 1,594,800 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Cencora by 20.4% during the 4th quarter. Invesco Ltd. now owns 3,243,531 shares of the company's stock valued at $728,757,000 after buying an additional 550,246 shares in the last quarter. Institutional investors own 97.52% of the company's stock.
Insider Activity
In other Cencora news, CEO Robert P. Mauch sold 4,969 shares of the company's stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $289.33, for a total transaction of $1,437,680.77. Following the sale, the chief executive officer owned 47,582 shares in the company, valued at $13,766,900.06. This represents a 9.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Steven H. Collis sold 14,579 shares of the company's stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $292.62, for a total value of $4,266,106.98. Following the transaction, the chairman directly owned 311,913 shares of the company's stock, valued at $91,271,982.06. This trade represents a 4.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,127 shares of company stock worth $9,812,296. Insiders own 10.80% of the company's stock.
Cencora Stock Performance
Shares of COR stock traded up $1.33 during mid-day trading on Wednesday, hitting $299.36. 412,221 shares of the stock were exchanged, compared to its average volume of 1,505,781. The company has a debt-to-equity ratio of 6.01, a quick ratio of 0.52 and a current ratio of 0.87. Cencora, Inc. has a 12-month low of $218.65 and a 12-month high of $309.35. The stock's fifty day simple moving average is $291.57 and its two-hundred day simple moving average is $268.53. The stock has a market capitalization of $58.02 billion, a price-to-earnings ratio of 34.73, a P/E/G ratio of 1.50 and a beta of 0.57.
Cencora (NYSE:COR - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $4.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.07 by $0.35. Cencora had a net margin of 0.55% and a return on equity of 344.71%. The company had revenue of $75.50 billion during the quarter, compared to the consensus estimate of $75.41 billion. During the same period last year, the firm earned $3.80 EPS. The company's revenue for the quarter was up 10.3% on a year-over-year basis. On average, analysts forecast that Cencora, Inc. will post 15.37 EPS for the current year.
Cencora Dividend Announcement
The business also recently disclosed 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. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date of this dividend was Friday, May 16th. Cencora's dividend payout ratio is presently 25.52%.
Analyst Upgrades and Downgrades
Several research firms recently weighed in on COR. Jefferies Financial Group lifted their price target on Cencora from $275.00 to $300.00 and gave the company a "hold" rating in a research report on Monday, June 30th. 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. Citigroup raised their price objective on Cencora from $330.00 to $355.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Wall Street Zen raised shares of Cencora from a "hold" rating to a "buy" rating in a report on Wednesday, March 12th. Finally, UBS Group boosted their price objective on Cencora from $298.00 to $335.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $306.33.
Check Out Our Latest Stock Analysis on COR
About Cencora
(
Free Report)
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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