Cencora, Inc. (NYSE:COR) Stake Raised by Silvercrest Asset Management Group LLC

Silvercrest Asset Management Group LLC lifted its holdings in Cencora, Inc. (NYSE:COR - Free Report) by 153.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,647 shares of the company's stock after buying an additional 49,997 shares during the quarter. Silvercrest Asset Management Group LLC's holdings in Cencora were worth $18,569,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Norges Bank purchased a new position in Cencora in the fourth quarter valued at about $478,309,000. Bank of America Corp DE increased its holdings 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 buying an additional 1,994,256 shares in 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 position in Cencora in the fourth quarter valued at about $322,460,000. Finally, Invesco Ltd. grew its stake in Cencora by 20.4% in the 4th quarter. Invesco Ltd. now owns 3,243,531 shares of the company's stock valued at $728,757,000 after acquiring an additional 550,246 shares during the last quarter. Institutional investors and hedge funds own 97.52% of the company's stock.

Cencora Trading Up 0.0%

COR stock traded up $0.14 during midday trading on Tuesday, reaching $292.77. 1,535,108 shares of the company's stock traded hands, compared to its average volume of 1,547,396. The company has a market capitalization of $56.77 billion, a P/E ratio of 41.65, a PEG ratio of 1.31 and a beta of 0.60. The company has a debt-to-equity ratio of 16.40, a current ratio of 0.92 and a quick ratio of 0.54. Cencora, Inc. has a fifty-two week low of $214.77 and a fifty-two week high of $309.35. The business has a 50-day moving average price of $280.61 and a two-hundred day moving average price of $256.02.

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, beating analysts' consensus estimates of $4.07 by $0.35. The firm had revenue of $75.50 billion for the quarter, compared to analysts' expectations of $75.41 billion. Cencora had a net margin of 0.46% and a return on equity of 328.62%. Cencora's revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the company posted $3.80 earnings per share. Equities research analysts forecast that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Friday, May 16th will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.75%. Cencora's payout ratio is currently 25.52%.

Insider Transactions at Cencora

In other Cencora news, Chairman Steven H. Collis sold 14,579 shares of the business's stock in a transaction on Tuesday, April 22nd. The shares were sold at an average price of $281.81, for a total transaction of $4,108,507.99. Following the completion of the sale, the chairman now owns 315,913 shares in the company, valued at $89,027,442.53. The trade was a 4.41% decrease in their ownership of the stock. 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 business's stock in a transaction on Monday, April 21st. The shares were sold at an average price of $289.33, for a total transaction of $1,437,680.77. Following the sale, the chief executive officer now owns 47,582 shares of the company's stock, valued at approximately $13,766,900.06. The trade was a 9.46% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,223 shares of company stock valued at $13,580,967. Corporate insiders own 10.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on COR shares. Robert W. Baird increased their price objective on shares of Cencora from $314.00 to $350.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Citigroup increased 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. Wells Fargo & Company increased their price objective on shares of Cencora from $251.00 to $274.00 and gave the company an "equal weight" rating in a research note on Friday, March 14th. StockNews.com raised shares of Cencora from a "hold" rating to a "buy" rating in a research note on Wednesday, March 12th. Finally, Bank of America increased 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. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $301.18.

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.