Mizuho Securities USA LLC Increases Stock Position in Cencora, Inc. (NYSE:COR)

Mizuho Securities USA LLC increased its position in Cencora, Inc. (NYSE:COR) by 46.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,621 shares of the company’s stock after purchasing an additional 5,309 shares during the quarter. Mizuho Securities USA LLC’s holdings in Cencora were worth $3,734,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Whittier Trust Co. boosted its stake in shares of Cencora by 0.6% in the fourth quarter. Whittier Trust Co. now owns 7,856 shares of the company’s stock valued at $1,765,000 after purchasing an additional 44 shares during the period. Shepherd Financial Partners LLC boosted its stake in Cencora by 0.9% during the 4th quarter. Shepherd Financial Partners LLC now owns 5,441 shares of the company’s stock valued at $1,223,000 after acquiring an additional 46 shares during the last quarter. WASHINGTON TRUST Co boosted its stake in Cencora by 37.7% during the 4th quarter. WASHINGTON TRUST Co now owns 168 shares of the company’s stock valued at $38,000 after acquiring an additional 46 shares during the last quarter. JFS Wealth Advisors LLC boosted its stake in Cencora by 63.0% during the 4th quarter. JFS Wealth Advisors LLC now owns 119 shares of the company’s stock valued at $27,000 after acquiring an additional 46 shares during the last quarter. Finally, Cullen Frost Bankers Inc. boosted its stake in Cencora by 1.1% during the 4th quarter. Cullen Frost Bankers Inc. now owns 4,463 shares of the company’s stock valued at $1,003,000 after acquiring an additional 47 shares during the last quarter. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cencora

In other news, CAO Lazarus Krikorian sold 2,000 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $260.06, for a total transaction of $520,120.00. Following the completion of the transaction, the chief accounting officer now owns 20,154 shares in the company, valued at approximately $5,241,249.24. This trade represents a 9.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Silvana Battaglia sold 5,000 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $242.24, for a total transaction of $1,211,200.00. Following the transaction, the executive vice president now owns 15,374 shares of the company’s stock, valued at approximately $3,724,197.76. This trade represents a 24.54 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,970 shares of company stock valued at $2,998,670. Company insiders own 10.80% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on COR shares. Evercore ISI increased their price objective on shares of Cencora from $270.00 to $280.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Wells Fargo & Company raised their price target on shares of Cencora from $251.00 to $274.00 and gave the stock an “equal weight” rating in a research report on Friday, March 14th. StockNews.com upgraded shares of Cencora from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. JPMorgan Chase & Co. raised their price target on shares of Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Finally, Mizuho started coverage on shares of Cencora in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $280.20.

Cencora Stock Down 0.3 %

COR stock opened at $266.91 on Monday. The company has a quick ratio of 0.54, a current ratio of 0.92 and a debt-to-equity ratio of 16.40. Cencora, Inc. has a fifty-two week low of $214.77 and a fifty-two week high of $271.08. The firm’s 50-day simple moving average is $250.62 and its 200 day simple moving average is $240.01. The stock has a market cap of $51.76 billion, a PE ratio of 37.97, a price-to-earnings-growth ratio of 1.31 and a beta of 0.51.

Cencora (NYSE:COR) last released its quarterly earnings data on Wednesday, February 5th. The company reported $3.73 earnings per share for the quarter, topping analysts’ consensus estimates of $3.50 by $0.23. Cencora had a net margin of 0.46% and a return on equity of 328.62%. As a group, sell-side analysts predict that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.20 annualized dividend and a yield of 0.82%. Cencora’s payout ratio is 31.29%.

Cencora Profile

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.