American Century Companies Inc. Grows Stock Position in Cencora, Inc. (NYSE:COR)

American Century Companies Inc. boosted its holdings in shares of Cencora, Inc. (NYSE:COR) by 43.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 862,637 shares of the company’s stock after purchasing an additional 262,823 shares during the period. American Century Companies Inc. owned about 0.45% of Cencora worth $193,818,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. State Street Corp increased its holdings in Cencora by 3.8% during the 3rd quarter. State Street Corp now owns 8,045,896 shares of the company’s stock valued at $1,810,970,000 after purchasing an additional 291,867 shares during the period. Wellington Management Group LLP increased 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 valued at $1,168,927,000 after purchasing an additional 338,452 shares during the period. Boston Partners increased its holdings in Cencora by 2.6% during the 4th quarter. Boston Partners now owns 5,007,100 shares of the company’s stock valued at $1,128,058,000 after purchasing an additional 125,611 shares during the period. Geode Capital Management LLC increased its holdings in Cencora by 4.7% during the 3rd quarter. Geode Capital Management LLC now owns 4,195,851 shares of the company’s stock valued at $941,183,000 after purchasing an additional 189,054 shares during the period. Finally, Pacer Advisors Inc. increased its holdings in Cencora by 6.7% during the 4th quarter. Pacer Advisors Inc. now owns 2,204,242 shares of the company’s stock valued at $495,249,000 after purchasing an additional 138,868 shares during the period. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Analyst Upgrades and Downgrades

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

Cencora Stock Performance

Shares of COR opened at $266.91 on Friday. 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 business’s 50 day moving average price is $250.62 and its 200-day moving average price is $240.03. Cencora, Inc. has a 52 week low of $214.77 and a 52 week high of $271.08. The stock has a market cap of $51.76 billion, a P/E ratio of 37.97, a P/E/G ratio of 1.31 and a beta of 0.51.

Cencora (NYSE:COR) last released its quarterly earnings data on Wednesday, February 5th. The company reported $3.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.50 by $0.23. Cencora had a return on equity of 328.62% and a net margin of 0.46%. Equities research analysts anticipate that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors 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 annualized dividend and a yield of 0.82%. Cencora’s dividend payout ratio (DPR) is presently 31.29%.

Insider Activity at Cencora

In related news, CEO Robert P. Mauch sold 4,970 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $255.00, for a total value of $1,267,350.00. Following the transaction, the chief executive officer now directly owns 51,070 shares of the company’s stock, valued at approximately $13,022,850. This represents a 8.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Silvana Battaglia sold 5,000 shares of the business’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $242.24, for a total transaction of $1,211,200.00. Following the sale, the executive vice president now owns 15,374 shares of the company’s stock, valued at approximately $3,724,197.76. This represents a 24.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,970 shares of company stock valued at $2,998,670. 10.80% of the stock is owned by corporate insiders.

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.