Vest Financial LLC Buys New Shares in Cencora, Inc. (NYSE:COR)

Vest Financial LLC bought a new stake in Cencora, Inc. (NYSE:COR) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 863 shares of the company’s stock, valued at approximately $240,000.

Several other hedge funds and other institutional investors have also bought and sold shares of COR. Norges Bank acquired a new position in Cencora in the fourth quarter valued at $478,309,000. Bank of America Corp DE increased its stake in Cencora by 62.3% in the fourth quarter. Bank of America Corp DE now owns 5,193,807 shares of the company’s stock valued at $1,166,944,000 after purchasing an additional 1,994,256 shares in the last quarter. Castlekeep Investment Advisors LLC bought a new stake in Cencora in the fourth quarter valued at $399,508,000. GAMMA Investing LLC increased its stake in Cencora by 43,561.9% in the first quarter. GAMMA Investing LLC now owns 1,598,461 shares of the company’s stock valued at $444,516,000 after purchasing an additional 1,594,800 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Cencora in the fourth quarter valued at $322,460,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

Cencora Trading Up 0.2%

NYSE:COR opened at $289.01 on Monday. The company has a debt-to-equity ratio of 16.40, a current ratio of 0.92 and a quick ratio of 0.54. The firm has a 50-day moving average of $286.29 and a 200-day moving average of $260.37. The company has a market cap of $56.02 billion, a PE ratio of 41.11, a PEG ratio of 1.31 and a beta of 0.58. Cencora, Inc. has a one year low of $218.65 and a one year high of $309.35.

Cencora (NYSE:COR) last posted its earnings results on Wednesday, May 7th. The company reported $4.42 EPS for the quarter, topping the consensus estimate of $4.07 by $0.35. Cencora had a net margin of 0.46% and a return on equity of 328.62%. The company had revenue of $75.50 billion during the quarter, compared to the consensus estimate of $75.41 billion. During the same period in the previous year, the firm posted $3.80 earnings per share. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. As a group, equities research analysts expect that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 16th were given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date was Friday, May 16th. Cencora’s payout ratio is 25.52%.

Analyst Ratings Changes

Several equities research analysts have weighed in on COR shares. Wall Street Zen raised shares of Cencora from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Bank of America lifted their price target on shares of Cencora from $270.00 to $285.00 and gave the company a “neutral” rating in a research note on Friday, April 11th. UBS Group lifted their price target on shares of Cencora from $298.00 to $335.00 and gave the company a “buy” rating in a research note on Tuesday, April 29th. Morgan Stanley set a $288.00 price target on shares of Cencora in a research note on Tuesday, April 15th. Finally, Wells Fargo & Company raised shares of Cencora from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $274.00 to $337.00 in a research note on Tuesday, June 3rd. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $306.91.

Insiders Place Their Bets

In other Cencora news, EVP Elizabeth S. Campbell sold 4,127 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $268.28, for a total value of $1,107,191.56. Following the completion of the sale, the executive vice president now directly owns 14,665 shares of the company’s stock, valued at approximately $3,934,326.20. This represents a 21.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Steven H. Collis sold 14,579 shares of the company’s stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $281.81, for a total transaction of $4,108,507.99. Following the completion of the sale, the chairman now directly owns 315,913 shares of the company’s stock, valued at $89,027,442.53. The trade was a 4.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,253 shares of company stock valued at $10,582,297. Corporate insiders own 10.80% of the company’s stock.

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.