Xponance Inc. reduced its position in Cencora, Inc. (NYSE:COR - Free Report) by 38.1% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 42,249 shares of the company's stock after selling 26,046 shares during the period. Xponance Inc.'s holdings in Cencora were worth $11,749,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of COR. Norges Bank purchased a new stake in Cencora in the 4th quarter worth approximately $478,309,000. Bank of America Corp DE grew its stake 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 worth $1,166,944,000 after acquiring an additional 1,994,256 shares during the period. Castlekeep Investment Advisors LLC purchased a new stake in Cencora in the 4th quarter worth approximately $399,508,000. GAMMA Investing LLC grew its stake in Cencora by 43,561.9% in the 1st quarter. GAMMA Investing LLC now owns 1,598,461 shares of the company's stock worth $444,516,000 after acquiring an additional 1,594,800 shares during the period. Finally, Invesco Ltd. grew its stake 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 during the period. 97.52% of the stock is owned by hedge funds and other institutional investors.
Cencora Stock Down 0.8%
Shares of Cencora stock opened at $295.07 on Friday. The company has a fifty day moving average price of $291.91 and a 200 day moving average price of $269.69. The company has a current ratio of 0.87, a quick ratio of 0.52 and a debt-to-equity ratio of 6.01. Cencora, Inc. has a twelve month low of $218.65 and a twelve month high of $309.35. The stock has a market cap of $57.19 billion, a price-to-earnings ratio of 34.23, a price-to-earnings-growth ratio of 1.47 and a beta of 0.57.
Cencora (NYSE:COR - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $4.42 earnings per share for the quarter, topping 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 firm had revenue of $75.50 billion during the quarter, compared to analysts' expectations of $75.41 billion. During the same period in the prior year, the company earned $3.80 EPS. The firm's revenue was up 10.3% on a year-over-year basis. Equities research analysts forecast that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.
Cencora Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 16th were issued a $0.55 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.20 dividend on an annualized basis and a yield of 0.75%. Cencora's dividend payout ratio is currently 25.52%.
Insiders Place Their Bets
In other Cencora news, CEO Robert P. Mauch sold 4,969 shares of the business's stock in a transaction on Monday, April 21st. The shares were sold at an average price of $289.33, for a total value of $1,437,680.77. Following the transaction, the chief executive officer owned 47,582 shares in the company, valued at $13,766,900.06. The trade was a 9.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Steven H. Collis sold 14,579 shares of the business's stock in a transaction 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 completion of the transaction, the chairman owned 311,913 shares in the company, valued at $91,271,982.06. This represents a 4.47% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,127 shares of company stock worth $9,812,296 in the last quarter. 10.80% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
COR has been the subject of several research reports. Jefferies Financial Group boosted their price objective on shares of Cencora from $275.00 to $300.00 and gave the company a "hold" rating in a research note on Monday, June 30th. UBS Group boosted their price objective on shares of Cencora from $298.00 to $335.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Wells Fargo & Company raised shares of Cencora from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $274.00 to $337.00 in a research note on Tuesday, June 3rd. Bank of America boosted their price objective on shares of Cencora from $270.00 to $285.00 and gave the company a "neutral" rating in a research note on Friday, April 11th. Finally, Citigroup boosted their price objective on shares of Cencora from $330.00 to $355.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $306.33.
Read Our Latest Stock Report on Cencora
Cencora Profile
(
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.
Further Reading
Want to see what other hedge funds are holding COR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cencora, Inc. (NYSE:COR - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Cencora, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Cencora wasn't on the list.
While Cencora currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
