Allspring Global Investments Holdings LLC Boosts Position in Cencora, Inc. (NYSE:COR)

Allspring Global Investments Holdings LLC increased its position in Cencora, Inc. (NYSE:COR) by 120.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 357,956 shares of the company’s stock after purchasing an additional 195,668 shares during the period. Allspring Global Investments Holdings LLC owned 0.18% of Cencora worth $80,569,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in COR. Fisher Asset Management LLC purchased a new stake in shares of Cencora in the fourth quarter worth $244,000. Park Avenue Securities LLC purchased a new stake in shares of Cencora in the first quarter worth $2,114,000. RFG Advisory LLC purchased a new stake in shares of Cencora in the first quarter worth $501,000. Salem Investment Counselors Inc. bought a new position in shares of Cencora during the first quarter valued at $265,000. Finally, Northwest Investment Counselors LLC bought a new position in shares of Cencora during the first quarter valued at $75,000. 97.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on COR. Robert W. Baird lowered their price target on Cencora from $287.00 to $283.00 and set an “outperform” rating on the stock in a report on Friday, September 6th. JPMorgan Chase & Co. increased their target price on Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Evercore ISI lowered their target price on Cencora from $270.00 to $250.00 and set an “outperform” rating on the stock in a report on Tuesday, October 8th. Leerink Partners lowered their target price on Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Finally, Wells Fargo & Company increased their target price on Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $259.44.

Insider Buying and Selling at Cencora

In other Cencora news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $240.56, for a total transaction of $1,067,646,415.76. Following the completion of the transaction, the insider now owns 19,980,000 shares in the company, valued at $4,806,388,800. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $240.56, for a total value of $1,067,646,415.76. Following the completion of the sale, the insider now owns 19,980,000 shares in the company, valued at approximately $4,806,388,800. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Silvana Battaglia sold 1,473 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $242.69, for a total transaction of $357,482.37. Following the completion of the sale, the executive vice president now owns 10,948 shares of the company’s stock, valued at $2,656,970.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 15.80% of the stock is owned by company insiders.

Cencora Stock Performance

NYSE:COR opened at $237.43 on Monday. The company has a current ratio of 0.89, a quick ratio of 0.55 and a debt-to-equity ratio of 3.93. Cencora, Inc. has a 12-month low of $182.75 and a 12-month high of $247.66. The stock has a 50-day moving average price of $232.38 and a 200 day moving average price of $230.95. The stock has a market capitalization of $47.36 billion, a P/E ratio of 25.98, a P/E/G ratio of 1.40 and a beta of 0.44.

Cencora (NYSE:COR) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $3.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.18 by $0.16. Cencora had a return on equity of 266.60% and a net margin of 0.65%. The business had revenue of $74.20 billion for the quarter, compared to analysts’ expectations of $73.32 billion. During the same period in the prior year, the firm earned $2.92 EPS. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. Equities research analysts forecast that Cencora, Inc. will post 13.63 EPS for the current fiscal year.

Cencora Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were given a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.04 annualized dividend and a yield of 0.86%. Cencora’s dividend payout ratio (DPR) is currently 22.32%.

About Cencora

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.