DnB Asset Management AS Grows Holdings in Cencora, Inc. (NYSE:COR)

DnB Asset Management AS grew its position in Cencora, Inc. (NYSE:COR) by 1.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 31,124 shares of the company’s stock after acquiring an additional 566 shares during the period. DnB Asset Management AS’s holdings in Cencora were worth $6,993,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Whittier Trust Co. raised its holdings in Cencora by 0.6% in the 4th quarter. Whittier Trust Co. now owns 7,856 shares of the company’s stock worth $1,765,000 after purchasing an additional 44 shares during the period. Shepherd Financial Partners LLC increased its position in shares of Cencora by 0.9% in the fourth quarter. Shepherd Financial Partners LLC now owns 5,441 shares of the company’s stock valued at $1,223,000 after buying an additional 46 shares in the last quarter. WASHINGTON TRUST Co raised its stake in shares of Cencora by 37.7% during the 4th quarter. WASHINGTON TRUST Co now owns 168 shares of the company’s stock worth $38,000 after buying an additional 46 shares during the period. JFS Wealth Advisors LLC lifted 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 buying an additional 46 shares in the last quarter. Finally, Cullen Frost Bankers Inc. grew its stake in Cencora by 1.1% in the 4th quarter. Cullen Frost Bankers Inc. now owns 4,463 shares of the company’s stock valued at $1,003,000 after acquiring an additional 47 shares during the period. 97.52% of the stock is owned by hedge funds and other institutional investors.

Cencora Stock Up 0.4 %

Shares of NYSE COR opened at $275.16 on Monday. Cencora, Inc. has a 1 year low of $214.77 and a 1 year high of $275.57. The company has a market capitalization of $53.36 billion, a P/E ratio of 39.14, a P/E/G ratio of 1.31 and a beta of 0.51. The company has a 50 day simple moving average of $253.81 and a 200-day simple moving average of $241.24. The company has a debt-to-equity ratio of 16.40, a current ratio of 0.92 and a quick ratio of 0.54.

Cencora (NYSE:COR) last posted its earnings results on Wednesday, February 5th. The company reported $3.73 EPS for the quarter, beating analysts’ consensus estimates of $3.50 by $0.23. Cencora had a return on equity of 328.62% and a net margin of 0.46%. On average, equities research analysts predict that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given a $0.55 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.20 dividend on an annualized basis and a yield of 0.80%. Cencora’s payout ratio is currently 31.29%.

Insider Buying and Selling at Cencora

In related news, Chairman Steven H. Collis sold 14,578 shares of the business’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $269.51, for a total value of $3,928,916.78. Following the sale, the chairman now owns 317,913 shares in the company, valued at approximately $85,680,732.63. The trade was a 4.38 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Elizabeth S. Campbell sold 4,127 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $268.28, for a total value of $1,107,191.56. Following the transaction, 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 sold a total of 30,675 shares of company stock worth $8,034,778 over the last three months. Insiders own 10.80% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.