Principal Financial Group Inc. Raises Stake in Cencora, Inc. (NYSE:COR)

Principal Financial Group Inc. boosted its holdings in Cencora, Inc. (NYSE:COR) by 3.8% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 318,401 shares of the company’s stock after buying an additional 11,675 shares during the period. Principal Financial Group Inc. owned approximately 0.16% of Cencora worth $71,538,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of COR. Swedbank AB lifted its holdings in shares of Cencora by 2.3% during the 3rd quarter. Swedbank AB now owns 1,394,449 shares of the company’s stock valued at $313,863,000 after acquiring an additional 31,104 shares in the last quarter. Whittier Trust Co. boosted its position in shares of Cencora by 1.0% in the third quarter. Whittier Trust Co. now owns 7,812 shares of the company’s stock worth $1,758,000 after buying an additional 81 shares during the period. Foundations Investment Advisors LLC grew its stake in shares of Cencora by 35.8% in the third quarter. Foundations Investment Advisors LLC now owns 5,287 shares of the company’s stock valued at $1,190,000 after buying an additional 1,395 shares in the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of Cencora by 23.1% in the third quarter. Sequoia Financial Advisors LLC now owns 6,630 shares of the company’s stock valued at $1,492,000 after buying an additional 1,245 shares in the last quarter. Finally, Eastern Bank purchased a new stake in shares of Cencora during the 3rd quarter valued at about $130,000. 97.52% of the stock is owned by institutional investors and hedge funds.

Cencora Trading Up 1.6 %

Shares of NYSE COR opened at $245.37 on Thursday. The company has a quick ratio of 0.54, a current ratio of 0.92 and a debt-to-equity ratio of 16.40. The stock has a market capitalization of $47.58 billion, a P/E ratio of 34.90, a PEG ratio of 1.30 and a beta of 0.49. Cencora, Inc. has a 52-week low of $214.77 and a 52-week high of $262.26. The stock’s 50 day moving average price is $239.11 and its two-hundred day moving average price is $237.42.

Cencora (NYSE:COR) last released its quarterly earnings data on Wednesday, February 5th. The company reported $3.73 earnings per share for the quarter, topping the consensus estimate 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 anticipate that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 0.90%. The ex-dividend date is Friday, February 14th. Cencora’s dividend payout ratio (DPR) is 31.29%.

Insider Activity at Cencora

In related news, EVP Silvana Battaglia sold 1,678 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $228.72, for a total transaction of $383,792.16. Following the transaction, the executive vice president now owns 20,329 shares in the company, valued at $4,649,648.88. This trade represents a 7.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Steven H. Collis sold 50,000 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $243.97, for a total value of $12,198,500.00. Following the completion of the sale, the chairman now directly owns 326,557 shares in the company, valued at $79,670,111.29. This represents a 13.28 % decrease in their position. The disclosure for this sale can be found here. 10.80% of the stock is owned by insiders.

Analyst Ratings Changes

COR has been the subject of several recent research reports. Mizuho initiated coverage on shares of Cencora in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 price objective for the company. UBS Group lifted their price target on shares of Cencora from $275.00 to $285.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Evercore ISI upped their price objective on shares of Cencora from $270.00 to $280.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Robert W. Baird raised their target price on Cencora from $287.00 to $292.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. boosted their price target on Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $277.90.

Cencora 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.