First Hawaiian Bank Acquires 701 Shares of Cencora, Inc. (NYSE:COR)

First Hawaiian Bank increased its holdings in shares of Cencora, Inc. (NYSE:COR) by 7.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,654 shares of the company’s stock after buying an additional 701 shares during the period. First Hawaiian Bank’s holdings in Cencora were worth $2,394,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. State Street Corp grew its stake in shares of Cencora by 3.8% in the third quarter. State Street Corp now owns 8,045,896 shares of the company’s stock worth $1,810,970,000 after purchasing an additional 291,867 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Cencora by 7.0% during the 3rd quarter. Wellington Management Group LLP now owns 5,193,386 shares of the company’s stock worth $1,168,927,000 after buying an additional 338,452 shares during the period. Geode Capital Management LLC grew its position in shares of Cencora by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 4,195,851 shares of the company’s stock valued at $941,183,000 after buying an additional 189,054 shares during the last quarter. Pacer Advisors Inc. increased its stake in shares of Cencora by 6,855.3% in the third quarter. Pacer Advisors Inc. now owns 2,065,374 shares of the company’s stock valued at $464,874,000 after buying an additional 2,035,679 shares during the period. Finally, Legal & General Group Plc raised its position in shares of Cencora by 3.7% during the second quarter. Legal & General Group Plc now owns 1,875,445 shares of the company’s stock worth $422,538,000 after acquiring an additional 67,287 shares during the last quarter. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Cencora

In other Cencora news, Chairman Steven H. Collis sold 50,000 shares of Cencora stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $243.97, for a total transaction of $12,198,500.00. Following the completion of the transaction, the chairman now owns 326,557 shares in the company, valued at approximately $79,670,111.29. The trade was a 13.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Silvana Battaglia sold 1,678 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $228.72, for a total value of $383,792.16. Following the completion of the sale, the executive vice president now directly owns 20,329 shares of the company’s stock, valued at approximately $4,649,648.88. This trade represents a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 94,696 shares of company stock worth $22,862,734. 15.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. StockNews.com downgraded shares of Cencora from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 20th. Barclays increased their price objective on shares of Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Bank of America restated a “neutral” rating and issued a $245.00 target price (down previously from $275.00) on shares of Cencora in a report on Wednesday, September 18th. Mizuho assumed coverage on Cencora in a report on Wednesday, December 4th. They set an “outperform” rating and a $280.00 price target for the company. Finally, Robert W. Baird boosted their price objective on Cencora from $287.00 to $292.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Cencora presently has a consensus rating of “Moderate Buy” and a consensus price target of $275.60.

Cencora Stock Up 1.4 %

Shares of NYSE:COR opened at $237.63 on Thursday. The company has a debt-to-equity ratio of 4.84, a quick ratio of 0.53 and a current ratio of 0.88. Cencora, Inc. has a 52-week low of $209.32 and a 52-week high of $253.27. The business’s 50 day simple moving average is $237.38 and its two-hundred day simple moving average is $233.51. The firm has a market cap of $45.93 billion, a P/E ratio of 31.64, a PEG ratio of 1.54 and a beta of 0.49.

Cencora Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were given a $0.55 dividend. The ex-dividend date was Friday, November 15th. This represents a $2.20 annualized dividend and a yield of 0.93%. This is an increase from Cencora’s previous quarterly dividend of $0.51. Cencora’s dividend payout ratio (DPR) is presently 29.29%.

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.