Valley National Advisers Inc. Boosts Stock Position in Cencora, Inc. (NYSE:COR)

by · The Cerbat Gem

Valley National Advisers Inc. lifted its position in shares of Cencora, Inc. (NYSE:COR – Free Report) by 2.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,839 shares of the company’s stock after purchasing an additional 159 shares during the period. Valley National Advisers Inc.’s holdings in Cencora were worth $2,179,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its holdings in shares of Cencora by 0.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,859,452 shares of the company’s stock worth $1,990,542,000 after purchasing an additional 78,066 shares during the period. Bank of America Corp DE boosted its holdings in shares of Cencora by 62.3% during the fourth quarter. Bank of America Corp DE now owns 5,193,807 shares of the company’s stock worth $1,166,944,000 after purchasing an additional 1,994,256 shares during the period. Boston Partners boosted its holdings in shares of Cencora by 2.6% during the fourth quarter. Boston Partners now owns 5,007,100 shares of the company’s stock worth $1,128,058,000 after purchasing an additional 125,611 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Cencora by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 4,326,064 shares of the company’s stock worth $969,471,000 after purchasing an additional 130,213 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of Cencora by 20.4% during the fourth quarter. Invesco Ltd. now owns 3,243,531 shares of the company’s stock worth $728,757,000 after purchasing an additional 550,246 shares during the period. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Cencora Price Performance

Shares of NYSE COR opened at $299.71 on Monday. Cencora, Inc. has a fifty-two week low of $218.65 and a fifty-two week high of $309.35. The company has a 50 day simple moving average of $289.95 and a two-hundred day simple moving average of $265.45. The company has a market capitalization of $58.09 billion, a price-to-earnings ratio of 34.77, a P/E/G ratio of 1.48 and a beta of 0.58. The company has a debt-to-equity ratio of 6.01, a quick ratio of 0.52 and a current ratio of 0.87.

Cencora (NYSE:COR – Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $4.42 earnings per share for the quarter, beating analysts’ consensus estimates of $4.07 by $0.35. Cencora had a net margin of 0.55% and a return on equity of 344.71%. The business had revenue of $75.50 billion during the quarter, compared to the consensus estimate of $75.41 billion. During the same quarter last year, the firm earned $3.80 earnings per share. The business’s revenue for the quarter was up 10.3% on a year-over-year basis. Analysts expect that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 16th were paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date of this dividend was Friday, May 16th. Cencora’s dividend payout ratio is 25.52%.

Insider Buying and Selling at Cencora

In other Cencora news, Chairman Steven H. Collis sold 14,579 shares of the firm’s stock in a transaction that occurred on Tuesday, April 22nd. The shares were sold at an average price of $281.81, for a total transaction of $4,108,507.99. Following the completion of the transaction, the chairman now owns 315,913 shares of the company’s stock, valued at approximately $89,027,442.53. This trade represents a 4.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert P. Mauch sold 4,969 shares of the stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $289.33, for a total transaction of $1,437,680.77. Following the sale, the chief executive officer now owns 47,582 shares in the company, valued at approximately $13,766,900.06. The trade was a 9.46% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,127 shares of company stock valued at $9,812,296. Corporate insiders own 10.80% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Morgan Stanley set a $288.00 price target on shares of Cencora in a research note on Tuesday, April 15th. Robert W. Baird increased their price target on shares of Cencora from $314.00 to $350.00 and gave the stock an “outperform” rating in a research note on Thursday, May 8th. Wells Fargo & Company raised shares of Cencora from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $274.00 to $337.00 in a research note on Tuesday, June 3rd. UBS Group increased their price target on shares of Cencora from $298.00 to $335.00 and gave the stock a “buy” rating in a research note on Tuesday, April 29th. Finally, Citigroup increased their price target on shares of Cencora from $330.00 to $355.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $306.91.

Check Out Our Latest Report on COR

About Cencora

(Free Report)

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.

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