The Manufacturers Life Insurance Company Buys 340,862 Shares of Cencora, Inc. (NYSE:COR)

The Manufacturers Life Insurance Company lifted its position in shares of Cencora, Inc. (NYSE:COR - Free Report) by 67.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 844,179 shares of the company's stock after buying an additional 340,862 shares during the period. The Manufacturers Life Insurance Company owned about 0.44% of Cencora worth $189,670,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Aquatic Capital Management LLC grew its holdings in shares of Cencora by 185.6% during the fourth quarter. Aquatic Capital Management LLC now owns 93,388 shares of the company's stock valued at $20,982,000 after buying an additional 60,688 shares during the last quarter. Oxford Asset Management LLP grew its holdings in Cencora by 117.2% during the 4th quarter. Oxford Asset Management LLP now owns 5,298 shares of the company's stock valued at $1,190,000 after buying an additional 2,859 shares in the last quarter. Johnson Financial Group Inc. raised its position in shares of Cencora by 5,106.3% during the fourth quarter. Johnson Financial Group Inc. now owns 833 shares of the company's stock valued at $187,000 after buying an additional 817 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of Cencora in the fourth quarter worth $1,392,000. Finally, Coldstream Capital Management Inc. increased its holdings in shares of Cencora by 3.0% in the fourth quarter. Coldstream Capital Management Inc. now owns 3,399 shares of the company's stock worth $764,000 after purchasing an additional 100 shares during the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Cencora Stock Up 0.6 %

Shares of COR traded up $1.74 during mid-day trading on Friday, reaching $292.17. The company's stock had a trading volume of 1,046,574 shares, compared to its average volume of 1,511,470. The stock has a market cap of $56.66 billion, a PE ratio of 41.56, a price-to-earnings-growth ratio of 1.31 and a beta of 0.55. Cencora, Inc. has a 12-month low of $214.77 and a 12-month high of $296.65. The company has a debt-to-equity ratio of 16.40, a current ratio of 0.92 and a quick ratio of 0.54. The company's 50 day moving average is $271.82 and its 200 day moving average is $251.02.

Cencora (NYSE:COR - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $3.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.50 by $0.23. Cencora had a net margin of 0.46% and a return on equity of 328.62%. Equities analysts anticipate that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 0.75%. The ex-dividend date was Friday, February 14th. Cencora's payout ratio is currently 31.29%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on COR shares. JPMorgan Chase & Co. upped their price target on shares of Cencora from $289.00 to $301.00 and gave the company an "overweight" rating in a research note on Friday, January 24th. Wells Fargo & Company lifted their price objective on shares of Cencora from $251.00 to $274.00 and gave the company an "equal weight" rating in a report on Friday, March 14th. Morgan Stanley set a $288.00 target price on shares of Cencora in a report on Tuesday, April 15th. Evercore ISI raised their price objective on Cencora from $270.00 to $280.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. Finally, UBS Group raised their price objective on Cencora from $298.00 to $335.00 and gave the stock a "buy" rating in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $290.00.

Insiders Place Their Bets

In other Cencora news, CEO Robert P. Mauch sold 4,969 shares of the firm's stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 47,582 shares in the company, valued at approximately $13,766,900.06. This trade represents a 9.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Lazarus Krikorian sold 2,000 shares of Cencora stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $260.06, for a total transaction of $520,120.00. Following the completion of the sale, the chief accounting officer now owns 20,154 shares of the company's stock, valued at $5,241,249.24. This trade represents a 9.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 50,223 shares of company stock worth $13,580,967 in the last quarter. 10.80% of the stock is owned by corporate insiders.

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.