Man Group plc increased its stake in Cencora, Inc. (NYSE:COR - Free Report) by 165.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 399,031 shares of the company's stock after buying an additional 248,931 shares during the quarter. Man Group plc owned about 0.21% of Cencora worth $89,654,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Cencora during the fourth quarter worth $478,309,000. Bank of America Corp DE grew its stake 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 valued at $1,166,944,000 after purchasing an additional 1,994,256 shares during the last quarter. Castlekeep Investment Advisors LLC purchased a new position in Cencora in the fourth quarter valued at about $399,508,000. Raymond James Financial Inc. purchased a new stake in shares of Cencora during the fourth quarter worth about $322,460,000. Finally, Invesco Ltd. grew its stake in shares of Cencora by 20.4% during the fourth quarter. Invesco Ltd. now owns 3,243,531 shares of the company's stock worth $728,757,000 after acquiring an additional 550,246 shares during the last quarter. 97.52% of the stock is currently owned by institutional investors.
Cencora Trading Up 1.5%
Shares of NYSE COR traded up $4.27 during mid-day trading on Friday, reaching $290.24. 1,355,556 shares of the company's stock were exchanged, compared to its average volume of 1,542,582. The firm has a market capitalization of $56.28 billion, a price-to-earnings ratio of 41.29, a PEG ratio of 1.31 and a beta of 0.60. The company has a debt-to-equity ratio of 16.40, a quick ratio of 0.54 and a current ratio of 0.92. Cencora, Inc. has a 52-week low of $214.77 and a 52-week high of $309.35. The company's 50-day moving average is $279.10 and its 200-day moving average is $254.99.
Cencora (NYSE:COR - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $4.42 EPS for the quarter, beating analysts' consensus estimates of $4.07 by $0.35. Cencora had a return on equity of 328.62% and a net margin of 0.46%. The company 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 EPS. Cencora's revenue for the quarter was up 10.3% on a year-over-year basis. Analysts expect that Cencora, Inc. will post 15.37 EPS for the current fiscal year.
Cencora Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Friday, May 16th will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date is Friday, May 16th. Cencora's dividend payout ratio is currently 25.52%.
Insider Buying and Selling at Cencora
In other Cencora news, Chairman Steven H. Collis sold 14,578 shares of the stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $269.51, for a total value of $3,928,916.78. Following the sale, the chairman now owns 317,913 shares of the company's stock, valued at $85,680,732.63. This trade represents a 4.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Robert P. Mauch sold 4,969 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 47,582 shares in the company, valued at $13,766,900.06. This represents a 9.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 50,223 shares of company stock valued at $13,580,967 in the last quarter. Corporate insiders own 10.80% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts recently commented on the company. Bank of America lifted their target price on Cencora from $270.00 to $285.00 and gave the stock a "neutral" rating in a report on Friday, April 11th. StockNews.com raised Cencora from a "hold" rating to a "buy" rating in a research note on Wednesday, March 12th. Morgan Stanley set a $288.00 price target on Cencora in a research report on Tuesday, April 15th. UBS Group raised their target price on Cencora from $298.00 to $335.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Finally, Citigroup raised their target price on Cencora from $330.00 to $355.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $301.18.
Check Out Our Latest Stock Analysis on COR
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.
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