Fmr LLC Has $401.06 Million Position in Cencora, Inc. (NYSE:COR)

Fmr LLC lessened its holdings in Cencora, Inc. (NYSE:COR) by 56.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,785,042 shares of the company’s stock after selling 2,318,879 shares during the period. Fmr LLC owned about 0.92% of Cencora worth $401,063,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Federated Hermes Inc. grew its position in Cencora by 14.9% during the fourth quarter. Federated Hermes Inc. now owns 476,035 shares of the company’s stock valued at $106,956,000 after purchasing an additional 61,819 shares in the last quarter. Waterloo Capital L.P. acquired a new stake in shares of Cencora during the 4th quarter valued at $641,000. Russell Investments Group Ltd. grew its holdings in shares of Cencora by 22.7% during the 4th quarter. Russell Investments Group Ltd. now owns 220,517 shares of the company’s stock valued at $49,546,000 after acquiring an additional 40,751 shares in the last quarter. Wedbush Securities Inc. raised its holdings in shares of Cencora by 5.0% during the fourth quarter. Wedbush Securities Inc. now owns 8,538 shares of the company’s stock worth $1,918,000 after acquiring an additional 405 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in Cencora by 0.6% during the fourth quarter. Envestnet Asset Management Inc. now owns 589,072 shares of the company’s stock valued at $132,353,000 after purchasing an additional 3,546 shares during the last quarter. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Insider Transactions at Cencora

In other news, EVP Elizabeth S. Campbell sold 4,127 shares of the business’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $268.28, for a total transaction of $1,107,191.56. Following the transaction, the executive vice president now owns 14,665 shares in the company, valued at approximately $3,934,326.20. The trade was a 21.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Silvana Battaglia sold 5,000 shares of the company’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 directly owns 15,374 shares of the company’s stock, valued at $3,724,197.76. This represents a 24.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,675 shares of company stock worth $8,034,778 over the last three months. 10.80% of the stock is currently owned by insiders.

Cencora Price Performance

NYSE COR opened at $279.04 on Friday. The company has a market cap of $54.11 billion, a P/E ratio of 39.69, a P/E/G ratio of 1.31 and a beta of 0.55. Cencora, Inc. has a 1 year low of $214.77 and a 1 year high of $296.65. 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 company has a fifty day simple moving average of $259.61 and a 200 day simple moving average of $244.58.

Cencora (NYSE:COR) last released 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%. On average, sell-side analysts predict that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Announces Dividend

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

Analyst Ratings Changes

COR has been the topic of several research reports. JPMorgan Chase & Co. upped their target price on Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. StockNews.com raised shares of Cencora from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Evercore ISI lifted their target price 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. Finally, Wells Fargo & Company raised their price target on shares of Cencora from $251.00 to $274.00 and gave the company an “equal weight” rating in a report on Friday, March 14th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average 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.