CIBC Asset Management Inc Purchases 1,305 Shares of Cencora, Inc. (NYSE:COR)

CIBC Asset Management Inc increased its position in shares of Cencora, Inc. (NYSE:COR) by 3.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,542 shares of the company’s stock after purchasing an additional 1,305 shares during the period. CIBC Asset Management Inc’s holdings in Cencora were worth $9,101,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. JFS Wealth Advisors LLC raised its position in shares of Cencora by 63.0% during the 4th quarter. JFS Wealth Advisors LLC now owns 119 shares of the company’s stock valued at $27,000 after purchasing an additional 46 shares during the period. Concord Wealth Partners bought a new stake in shares of Cencora during the 3rd quarter valued at $30,000. Householder Group Estate & Retirement Specialist LLC raised its position in shares of Cencora by 85.2% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 150 shares of the company’s stock valued at $33,000 after purchasing an additional 69 shares during the period. Kentucky Trust Co bought a new stake in shares of Cencora during the 4th quarter valued at $33,000. Finally, WASHINGTON TRUST Co raised its position in shares of Cencora by 37.7% during the 4th quarter. WASHINGTON TRUST Co now owns 168 shares of the company’s stock valued at $38,000 after purchasing an additional 46 shares during the period. 97.52% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Silvana Battaglia sold 1,678 shares of Cencora stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $228.72, for a total transaction of $383,792.16. Following the completion of the transaction, the executive vice president now directly owns 20,329 shares of the company’s stock, valued at approximately $4,649,648.88. The trade was a 7.62 % 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, 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 transaction, the chairman now directly owns 326,557 shares of the company’s stock, valued at approximately $79,670,111.29. This represents a 13.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on COR. Barclays raised their target price on shares of Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Wells Fargo & Company raised their target price on shares of Cencora from $237.00 to $251.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 29th. UBS Group raised their target price on shares of Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Evercore ISI raised their target price on shares of Cencora from $270.00 to $280.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Finally, Mizuho began coverage on shares of Cencora in a research note on Wednesday, December 4th. They set an “outperform” rating and a $280.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $277.90.

Cencora Stock Performance

Shares of NYSE:COR opened at $241.37 on Wednesday. Cencora, Inc. has a 52 week low of $214.77 and a 52 week high of $262.26. The stock has a market capitalization of $46.65 billion, a P/E ratio of 34.33, a PEG ratio of 1.49 and a beta of 0.49. The firm has a fifty day simple moving average of $238.75 and a two-hundred day simple moving average of $237.41. The company has a quick ratio of 0.53, a current ratio of 0.92 and a debt-to-equity ratio of 16.40.

Cencora (NYSE:COR) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $3.73 EPS for the quarter, topping analysts’ consensus estimates of $3.50 by $0.23. Cencora had a net margin of 0.46% and a return on equity of 328.62%. On average, analysts expect that Cencora, Inc. will post 15.36 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be paid a dividend of $0.55 per share. The ex-dividend date is Friday, February 14th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.91%. Cencora’s dividend payout ratio is presently 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.