Fmr LLC Has $401.06 Million Position in Cencora, Inc. (NYSE:COR)

Fmr LLC decreased its holdings in Cencora, Inc. (NYSE:COR) by 56.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,785,042 shares of the company’s stock after selling 2,318,879 shares during the period. Fmr LLC’s holdings in Cencora were worth $401,063,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in COR. Norges Bank acquired a new stake in Cencora in the 4th quarter valued at $478,309,000. Raymond James Financial Inc. bought a new position in shares of Cencora during the fourth quarter valued at $322,460,000. Amundi boosted its stake in shares of Cencora by 30.8% in the 4th quarter. Amundi now owns 1,338,710 shares of the company’s stock valued at $318,385,000 after purchasing an additional 314,846 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of Cencora by 40.2% in the 4th quarter. Nordea Investment Management AB now owns 1,077,272 shares of the company’s stock worth $243,173,000 after purchasing an additional 308,773 shares during the last quarter. Finally, American Century Companies Inc. increased its position in shares of Cencora by 43.8% during the 4th quarter. American Century Companies Inc. now owns 862,637 shares of the company’s stock worth $193,818,000 after purchasing an additional 262,823 shares in the last quarter. 97.52% of the stock is owned by institutional investors.

Insider Activity at Cencora

In other news, CEO Robert P. Mauch sold 4,970 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $255.00, for a total transaction of $1,267,350.00. Following the completion of the transaction, the chief executive officer now directly owns 51,070 shares in the company, valued at approximately $13,022,850. The trade was a 8.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Lazarus Krikorian sold 2,000 shares of the 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 in the company, valued at $5,241,249.24. This represents a 9.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,675 shares of company stock worth $8,034,778 over the last ninety days. Company insiders own 10.80% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on COR shares. Wells Fargo & Company boosted their price target on shares of Cencora from $251.00 to $274.00 and gave the company an “equal weight” rating in a research report on Friday, March 14th. JPMorgan Chase & Co. boosted their target price on Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. StockNews.com upgraded Cencora from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Finally, Evercore ISI lifted 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. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Cencora presently has a consensus rating of “Moderate Buy” and a consensus price target of $280.20.

Cencora Stock Up 1.9 %

Shares of COR opened at $279.04 on Friday. The business’s fifty day moving average price is $259.61 and its two-hundred day moving average price is $244.58. The firm has a market capitalization of $54.11 billion, a price-to-earnings ratio of 39.69, a PEG ratio of 1.31 and a beta of 0.55. Cencora, Inc. has a 52 week low of $214.77 and a 52 week high of $296.65. 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 (NYSE:COR) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share (EPS) for the quarter, beating 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%. On average, analysts predict that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date of this dividend was Friday, February 14th. Cencora’s dividend payout ratio (DPR) is 31.29%.

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.