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

Swiss National Bank lowered its stake in Cencora, Inc. (NYSE:COR) by 6.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 501,000 shares of the company’s stock after selling 31,800 shares during the period. Swiss National Bank owned 0.26% of Cencora worth $112,565,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in COR. Swedbank AB grew its stake in shares of Cencora by 2.3% in the 3rd quarter. Swedbank AB now owns 1,394,449 shares of the company’s stock worth $313,863,000 after buying an additional 31,104 shares during the last quarter. United Bank grew its stake in shares of Cencora by 4.2% in the 3rd quarter. United Bank now owns 5,601 shares of the company’s stock worth $1,261,000 after buying an additional 225 shares during the last quarter. Assetmark Inc. grew its stake in shares of Cencora by 33.8% in the 3rd quarter. Assetmark Inc. now owns 2,536 shares of the company’s stock worth $571,000 after buying an additional 641 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Cencora in the 3rd quarter worth approximately $1,137,000. Finally, Prime Capital Investment Advisors LLC grew its stake in shares of Cencora by 1.2% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 3,768 shares of the company’s stock worth $848,000 after buying an additional 46 shares during the last quarter. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Insider Buying and Selling

In related news, EVP Silvana Battaglia sold 1,678 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $228.72, for a total value of $383,792.16. Following the transaction, the executive vice president now directly owns 20,329 shares of the company’s stock, valued at approximately $4,649,648.88. This trade represents a 7.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 value of $520,120.00. Following the completion of the transaction, the chief accounting officer now directly owns 20,154 shares in the company, valued at approximately $5,241,249.24. This represents a 9.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,648 shares of company stock valued at $3,382,462. 10.80% of the stock is owned by company insiders.

Cencora Price Performance

NYSE COR opened at $258.09 on Friday. The business’s fifty day moving average price is $247.59 and its 200-day moving average price is $239.09. The stock has a market capitalization of $50.05 billion, a price-to-earnings ratio of 36.71, a PEG ratio of 1.31 and a beta of 0.51. The company has a debt-to-equity ratio of 16.40, a current ratio of 0.92 and a quick ratio of 0.54. Cencora, Inc. has a 1-year low of $214.77 and a 1-year high of $263.70.

Cencora (NYSE:COR) last released its quarterly earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share for the quarter, beating the consensus estimate 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 analysts predict that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a $0.55 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.20 dividend on an annualized basis and a yield of 0.85%. Cencora’s dividend payout ratio is currently 31.29%.

Analyst Ratings Changes

Several brokerages have commented on COR. StockNews.com upgraded Cencora from a “hold” rating to a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. increased their target price on Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. 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 note on Friday. Mizuho began coverage on Cencora in a research note on Wednesday, December 4th. They set an “outperform” rating and a $280.00 target price on the stock. Finally, Evercore ISI increased their target price on Cencora from $270.00 to $280.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $280.20.

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.