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

DnB Asset Management AS grew its position in Cencora, Inc. (NYSE:COR) by 1.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 31,124 shares of the company’s stock after buying an additional 566 shares during the quarter. DnB Asset Management AS’s holdings in Cencora were worth $6,993,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Whittier Trust Co. lifted its stake in Cencora by 0.6% in the fourth quarter. Whittier Trust Co. now owns 7,856 shares of the company’s stock worth $1,765,000 after acquiring an additional 44 shares during the period. Shepherd Financial Partners LLC lifted its position in shares of Cencora by 0.9% in the 4th quarter. Shepherd Financial Partners LLC now owns 5,441 shares of the company’s stock worth $1,223,000 after purchasing an additional 46 shares during the period. WASHINGTON TRUST Co lifted its position in shares of Cencora by 37.7% in the 4th quarter. WASHINGTON TRUST Co now owns 168 shares of the company’s stock worth $38,000 after purchasing an additional 46 shares during the period. JFS Wealth Advisors LLC boosted its stake in shares of Cencora by 63.0% during the fourth quarter. JFS Wealth Advisors LLC now owns 119 shares of the company’s stock valued at $27,000 after purchasing an additional 46 shares in the last quarter. Finally, Cullen Frost Bankers Inc. increased its holdings in Cencora by 1.1% during the fourth quarter. Cullen Frost Bankers Inc. now owns 4,463 shares of the company’s stock valued at $1,003,000 after buying an additional 47 shares during the period. Institutional investors own 97.52% of the company’s stock.

Insider Buying and Selling

In other news, EVP Silvana Battaglia sold 5,000 shares of the company’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $242.24, for a total value of $1,211,200.00. Following the sale, the executive vice president now directly owns 15,374 shares of the company’s stock, valued at $3,724,197.76. This represents a 24.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Lazarus Krikorian sold 2,000 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $260.06, for a total transaction of $520,120.00. Following the transaction, the chief accounting officer now directly owns 20,154 shares of the company’s stock, valued at approximately $5,241,249.24. This trade represents a 9.03 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,675 shares of company stock worth $8,034,778. 10.80% of the stock is owned by company insiders.

Cencora Trading Up 0.4 %

NYSE:COR opened at $275.16 on Monday. The company has a market capitalization of $53.36 billion, a P/E ratio of 39.14, a PEG ratio of 1.31 and a beta of 0.51. The company has a current ratio of 0.92, a quick ratio of 0.54 and a debt-to-equity ratio of 16.40. Cencora, Inc. has a 12 month low of $214.77 and a 12 month high of $275.57. The firm has a fifty day simple moving average of $253.81 and a 200-day simple moving average of $241.24.

Cencora (NYSE:COR) last issued its earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share (EPS) for the quarter, topping 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 anticipate that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 0.80%. Cencora’s dividend payout ratio is currently 31.29%.

Wall Street Analyst Weigh In

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

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.