US Bancorp DE Increases Stock Position in Cencora, Inc. (NYSE:COR)

US Bancorp DE grew its stake in shares of Cencora, Inc. (NYSE:COR) by 0.7% during the second quarter, HoldingsChannel.com reports. The fund owned 54,128 shares of the company’s stock after buying an additional 378 shares during the quarter. US Bancorp DE’s holdings in Cencora were worth $10,416,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in COR. Harbour Investments Inc. boosted its holdings in shares of Cencora by 61.8% during the 1st quarter. Harbour Investments Inc. now owns 165 shares of the company’s stock valued at $26,000 after acquiring an additional 63 shares during the last quarter. Tilia Fiduciary Partners Inc. boosted its holdings in shares of Cencora by 321.2% during the 2nd quarter. Tilia Fiduciary Partners Inc. now owns 139 shares of the company’s stock valued at $27,000 after acquiring an additional 106 shares during the last quarter. Cascade Investment Advisors Inc. purchased a new stake in shares of Cencora during the 1st quarter valued at about $32,000. Creative Financial Designs Inc. ADV boosted its holdings in shares of Cencora by 50.9% in the second quarter. Creative Financial Designs Inc. ADV now owns 175 shares of the company’s stock worth $34,000 after buying an additional 59 shares during the last quarter. Finally, Resources Management Corp CT ADV boosted its holdings in shares of Cencora by 262.1% in the first quarter. Resources Management Corp CT ADV now owns 525 shares of the company’s stock worth $37,000 after buying an additional 380 shares during the last quarter. Hedge funds and other institutional investors own 93.12% of the company’s stock.

Insider Activity

In other news, major shareholder Walgreens Boots Alliance, Inc. sold 1,279,590 shares of Cencora stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $195.38, for a total transaction of $250,006,294.20. Following the sale, the insider now owns 30,489,956 shares in the company, valued at $5,957,127,603.28. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, EVP Gina Clark sold 10,695 shares of the business’s stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $187.00, for a total value of $1,999,965.00. Following the sale, the executive vice president now owns 16,038 shares in the company, valued at $2,999,106. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Walgreens Boots Alliance, Inc. sold 1,279,590 shares of the business’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $195.38, for a total transaction of $250,006,294.20. Following the completion of the sale, the insider now owns 30,489,956 shares in the company, valued at approximately $5,957,127,603.28. The disclosure for this sale can be found here. Insiders have sold a total of 1,343,672 shares of company stock worth $262,243,280 over the last quarter. Insiders own 1.40% of the company’s stock.

Analysts Set New Price Targets

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

Cencora Price Performance

NYSE COR opened at $195.00 on Friday. Cencora, Inc. has a 12 month low of $147.48 and a 12 month high of $199.66. The stock has a market cap of $39.43 billion, a price-to-earnings ratio of 22.86, a PEG ratio of 1.68 and a beta of 0.53. The company’s 50 day moving average is $186.98 and its two-hundred day moving average is $181.33. The company has a current ratio of 0.88, a quick ratio of 0.52 and a debt-to-equity ratio of 6.22.

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 given a dividend of $0.51 per share. The ex-dividend date is Friday, November 10th. This represents a $2.04 annualized dividend and a dividend yield of 1.05%. This is a boost from Cencora’s previous quarterly dividend of $0.49. Cencora’s dividend payout ratio (DPR) is presently 23.92%.

Cencora Company 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.