Cencora, Inc. (NYSE:COR) Stake Boosted by LPL Financial LLC

LPL Financial LLC raised its position in shares of Cencora, Inc. (NYSE:COR) by 7.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 188,828 shares of the company’s stock after buying an additional 13,417 shares during the period. LPL Financial LLC’s holdings in Cencora were worth $42,426,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. United Bank boosted its stake in Cencora by 4.2% in the 3rd quarter. United Bank now owns 5,601 shares of the company’s stock worth $1,261,000 after purchasing an additional 225 shares during the period. CreativeOne Wealth LLC acquired a new stake in shares of Cencora in the third quarter worth $1,212,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Cencora by 3.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 90,767 shares of the company’s stock valued at $20,430,000 after buying an additional 2,711 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Cencora by 1.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,552,213 shares of the company’s stock valued at $349,372,000 after buying an additional 18,782 shares during the period. Finally, Public Sector Pension Investment Board lifted its stake in Cencora by 53.2% in the 3rd quarter. Public Sector Pension Investment Board now owns 6,908 shares of the company’s stock worth $1,555,000 after acquiring an additional 2,400 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Cencora Trading Up 0.4 %

Shares of NYSE:COR opened at $275.16 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.54 and a debt-to-equity ratio of 16.40. The stock has a market capitalization of $53.36 billion, a PE ratio of 39.14, a P/E/G ratio of 1.31 and a beta of 0.51. Cencora, Inc. has a 1 year low of $214.77 and a 1 year high of $275.57. The firm has a fifty day moving average price of $253.81 and a 200 day moving average price of $241.18.

Cencora (NYSE:COR) last released its quarterly earnings results 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 return on equity of 328.62% and a net margin of 0.46%. Analysts expect that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a dividend of $0.55 per share. The ex-dividend date was Friday, February 14th. This represents a $2.20 annualized dividend and a yield of 0.80%. Cencora’s dividend payout ratio (DPR) is presently 31.29%.

Analyst Ratings Changes

Several equities analysts have weighed in on COR shares. JPMorgan Chase & Co. lifted their target price on Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Mizuho assumed coverage on shares of Cencora in a research report on Wednesday, December 4th. They set an “outperform” rating and a $280.00 price objective on the stock. Wells Fargo & Company increased their target price on shares of Cencora from $251.00 to $274.00 and gave the stock an “equal weight” rating in a research report on Friday, March 14th. StockNews.com upgraded shares of Cencora from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Finally, Evercore ISI increased their price objective on Cencora from $270.00 to $280.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Cencora currently has a consensus rating of “Moderate Buy” and a consensus price target of $280.20.

Insider Activity

In related news, Chairman Steven H. Collis sold 14,578 shares of Cencora stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $269.51, for a total value of $3,928,916.78. Following the transaction, the chairman now owns 317,913 shares in the company, valued at $85,680,732.63. This trade represents a 4.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Elizabeth S. Campbell sold 4,127 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $268.28, for a total transaction of $1,107,191.56. Following the sale, the executive vice president now owns 14,665 shares of the company’s stock, valued at $3,934,326.20. This trade represents a 21.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,675 shares of company stock valued at $8,034,778 over the last 90 days. 10.80% of the stock is currently owned by company insiders.

Cencora 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.