Cencora, Inc. (NYSE:COR) Shares Purchased by Westpac Banking Corp

Westpac Banking Corp raised its position in Cencora, Inc. (NYSE:COR) by 13.5% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 21,895 shares of the company’s stock after purchasing an additional 2,596 shares during the period. Westpac Banking Corp’s holdings in Cencora were worth $4,919,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in COR. Norges Bank acquired a new position in Cencora during the fourth quarter worth about $478,309,000. Raymond James Financial Inc. acquired a new position in shares of Cencora during the 4th quarter worth approximately $322,460,000. Wellington Management Group LLP grew its position in shares of Cencora by 7.0% in the third quarter. Wellington Management Group LLP now owns 5,193,386 shares of the company’s stock valued at $1,168,927,000 after purchasing an additional 338,452 shares in the last quarter. Amundi increased its holdings in shares of Cencora by 30.8% in the fourth quarter. Amundi now owns 1,338,710 shares of the company’s stock valued at $318,385,000 after purchasing an additional 314,846 shares during the last quarter. Finally, Nordea Investment Management AB lifted its position in Cencora by 40.2% during the fourth quarter. Nordea Investment Management AB now owns 1,077,272 shares of the company’s stock worth $243,173,000 after buying an additional 308,773 shares in the last quarter. Institutional investors and hedge funds own 97.52% of the company’s stock.

Cencora Price Performance

COR stock opened at $279.60 on Thursday. The business’s fifty day moving average price is $255.83 and its 200 day moving average price is $242.06. Cencora, Inc. has a 12-month low of $214.77 and a 12-month high of $280.70. The company has a market capitalization of $54.22 billion, a PE ratio of 39.77, a P/E/G ratio of 1.31 and a beta of 0.51. The company has a current ratio of 0.92, a quick ratio of 0.54 and a debt-to-equity ratio of 16.40.

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

Cencora Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date of this dividend was Friday, February 14th. Cencora’s dividend payout ratio is currently 31.29%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Evercore ISI upped their target price on Cencora from $270.00 to $280.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Wells Fargo & Company raised their price objective 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. Mizuho started coverage on shares of Cencora in a report on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 target price on the stock. 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 report on Friday, January 24th. Finally, StockNews.com upgraded Cencora from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $280.20.

Insider Activity

In related news, EVP Elizabeth S. Campbell sold 4,127 shares of the firm’s stock in a transaction that occurred on 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 sale, the executive vice president now owns 14,665 shares of the company’s stock, valued at $3,934,326.20. This trade represents a 21.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Lazarus Krikorian sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $260.06, for a total transaction of $520,120.00. Following the transaction, the chief accounting officer now owns 20,154 shares of the company’s stock, valued at $5,241,249.24. This trade represents a 9.03 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,675 shares of company stock worth $8,034,778. Corporate insiders own 10.80% of the company’s stock.

Cencora Company 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.