Parallel Advisors LLC Boosts Stake in Cencora, Inc. (NYSE:COR)

Parallel Advisors LLC grew its stake in shares of Cencora, Inc. (NYSE:COR) by 6.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,265 shares of the company’s stock after buying an additional 317 shares during the quarter. Parallel Advisors LLC’s holdings in Cencora were worth $1,183,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Swedbank AB grew its holdings in shares of Cencora by 2.3% during the 3rd quarter. Swedbank AB now owns 1,394,449 shares of the company’s stock valued at $313,863,000 after purchasing an additional 31,104 shares during the last quarter. United Bank grew its holdings in shares of Cencora by 4.2% during the 3rd quarter. United Bank now owns 5,601 shares of the company’s stock valued at $1,261,000 after purchasing an additional 225 shares during the last quarter. Mutual of America Capital Management LLC grew its holdings in shares of Cencora by 2.9% during the 3rd quarter. Mutual of America Capital Management LLC now owns 21,528 shares of the company’s stock valued at $4,846,000 after purchasing an additional 605 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of Cencora by 28.5% during the 3rd quarter. Thrivent Financial for Lutherans now owns 110,499 shares of the company’s stock valued at $24,871,000 after purchasing an additional 24,492 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Cencora during the 3rd quarter valued at $1,648,000. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Cencora Trading Up 0.7 %

NYSE:COR opened at $266.10 on Thursday. The company has a 50-day moving average price of $249.41 and a 200-day moving average price of $239.67. Cencora, Inc. has a 12 month low of $214.77 and a 12 month high of $270.94. The company has a current ratio of 0.92, a quick ratio of 0.54 and a debt-to-equity ratio of 16.40. The stock has a market cap of $51.60 billion, a price-to-earnings ratio of 37.85, a P/E/G ratio of 1.31 and a beta of 0.51.

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, beating 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%. Equities analysts predict that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a dividend of $0.55 per share. The ex-dividend date was Friday, February 14th. This represents a $2.20 dividend on an annualized basis and a yield of 0.83%. Cencora’s dividend payout ratio (DPR) is currently 31.29%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Mizuho assumed coverage on shares of Cencora in a report on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 price target 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. 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 report on Friday, March 14th. Evercore ISI raised their price target on shares of Cencora from $270.00 to $280.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Finally, StockNews.com raised shares of Cencora from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Cencora currently has an average rating of “Moderate Buy” and an average target price of $280.20.

Insider Activity at Cencora

In related news, EVP Silvana Battaglia sold 1,678 shares of Cencora stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $228.72, for a total transaction of $383,792.16. Following the completion of the transaction, the executive vice president now directly owns 20,329 shares of the company’s stock, valued at $4,649,648.88. This trade represents a 7.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Lazarus Krikorian sold 2,000 shares of Cencora 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 transaction, the chief accounting officer now directly owns 20,154 shares of the company’s stock, valued at approximately $5,241,249.24. This trade represents a 9.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,648 shares of company stock valued at $3,382,462 in the last three months. Company insiders own 10.80% of the company’s stock.

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.