Swiss National Bank Boosts Stock Position in Cencora, Inc. (NYSE:COR)

Swiss National Bank increased its stake in shares of Cencora, Inc. (NYSE:COR) by 1.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 620,800 shares of the company’s stock after buying an additional 8,700 shares during the quarter. Swiss National Bank owned about 0.31% of Cencora worth $119,461,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its stake in shares of Cencora by 145.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,257,332 shares of the company’s stock valued at $1,642,302,000 after buying an additional 6,086,040 shares during the period. Wellington Management Group LLP grew its position in Cencora by 7,989.0% in the first quarter. Wellington Management Group LLP now owns 1,856,026 shares of the company’s stock worth $297,168,000 after acquiring an additional 1,833,081 shares during the period. Norges Bank acquired a new stake in Cencora during the fourth quarter worth $261,294,000. Envestnet Asset Management Inc. raised its position in Cencora by 156.2% in the first quarter. Envestnet Asset Management Inc. now owns 2,509,370 shares of the company’s stock valued at $83,116,000 after purchasing an additional 1,530,083 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Cencora by 7.4% in the 1st quarter. Vanguard Group Inc. now owns 18,411,527 shares of the company’s stock valued at $2,848,446,000 after purchasing an additional 1,269,147 shares during the last quarter. Institutional investors and hedge funds own 93.12% of the company’s stock.

Cencora Trading Down 2.3 %

NYSE:COR opened at $194.37 on Wednesday. Cencora, Inc. has a 12-month low of $147.48 and a 12-month high of $199.66. The firm has a market cap of $39.30 billion, a PE ratio of 22.79, a price-to-earnings-growth ratio of 1.72 and a beta of 0.53. The company has a current ratio of 0.88, a quick ratio of 0.52 and a debt-to-equity ratio of 6.22. The stock has a fifty day moving average price of $186.30 and a 200 day moving average price of $180.50.

Cencora Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 27th. Stockholders of record on Monday, November 13th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend is Friday, November 10th. This is a boost from Cencora’s previous quarterly dividend of $0.49. Cencora’s dividend payout ratio (DPR) is presently 23.92%.

Insider Transactions at Cencora

In related news, CEO Steven H. Collis sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 10th. The shares were sold at an average price of $185.08, for a total value of $4,627,000.00. Following the sale, the chief executive officer now owns 257,967 shares of the company’s stock, valued at $47,744,532.36. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, major shareholder Walgreens Boots Alliance, Inc. sold 1,279,590 shares of the stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $195.38, for a total value of $250,006,294.20. Following the transaction, the insider now owns 30,489,956 shares in the company, valued at approximately $5,957,127,603.28. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Steven H. Collis sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $185.08, for a total value of $4,627,000.00. Following the sale, the chief executive officer now directly owns 257,967 shares in the company, valued at approximately $47,744,532.36. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,315,285 shares of company stock valued at $256,633,259. 20.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on COR shares. TD Cowen raised their price objective on Cencora from $205.00 to $215.00 and gave the stock an “outperform” rating in a research report on Monday, August 7th. StockNews.com assumed coverage on shares of Cencora in a research note on Sunday, October 1st. They issued a “strong-buy” rating on the stock. TheStreet raised shares of Cencora from a “c” rating to a “b” rating in a research report on Monday, October 9th. Morgan Stanley lifted their target price on shares of Cencora from $176.00 to $190.00 and gave the company an “equal weight” rating in a report on Thursday, August 3rd. Finally, Evercore ISI upped their price target on Cencora from $210.00 to $225.00 in a research note on Wednesday, October 11th. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $196.08.

Cencora Profile

Cencora, Inc sources and distributes pharmaceutical products. Its 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.