The Manufacturers Life Insurance Company Increases Position in Cencora, Inc. (NYSE:COR)

The Manufacturers Life Insurance Company lifted its stake in shares of Cencora, Inc. (NYSE:COR) by 67.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 844,179 shares of the company’s stock after acquiring an additional 340,862 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Cencora were worth $189,670,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Whittier Trust Co. increased its holdings in 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 buying an additional 44 shares during the last quarter. Shepherd Financial Partners LLC increased its holdings in shares of Cencora by 0.9% in the fourth quarter. Shepherd Financial Partners LLC now owns 5,441 shares of the company’s stock valued at $1,223,000 after purchasing an additional 46 shares during the period. WASHINGTON TRUST Co increased its holdings in shares of Cencora by 37.7% in the fourth quarter. WASHINGTON TRUST Co now owns 168 shares of the company’s stock valued at $38,000 after purchasing an additional 46 shares during the period. JFS Wealth Advisors LLC increased its holdings in shares of Cencora by 63.0% in the fourth quarter. JFS Wealth Advisors LLC now owns 119 shares of the company’s stock valued at $27,000 after purchasing an additional 46 shares during the period. Finally, Cullen Frost Bankers Inc. increased its holdings in shares of Cencora by 1.1% in the fourth quarter. Cullen Frost Bankers Inc. now owns 4,463 shares of the company’s stock valued at $1,003,000 after purchasing an additional 47 shares during the period. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Insider Buying and Selling at Cencora

In other Cencora news, EVP Silvana Battaglia sold 5,000 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $242.24, for a total value of $1,211,200.00. Following the transaction, the executive vice president now directly owns 15,374 shares in the company, valued at $3,724,197.76. The trade was a 24.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Steven H. Collis sold 14,579 shares of the company’s stock in a transaction that occurred on Tuesday, April 22nd. The shares were sold at an average price of $281.81, for a total transaction of $4,108,507.99. Following the sale, the chairman now owns 315,913 shares in the company, valued at $89,027,442.53. The trade was a 4.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 50,223 shares of company stock valued at $13,580,967. 10.80% of the stock is currently owned by company insiders.

Cencora Stock Performance

COR opened at $287.75 on Tuesday. Cencora, Inc. has a 52-week low of $214.77 and a 52-week high of $296.65. The firm has a market capitalization of $55.80 billion, a PE ratio of 40.93, a PEG ratio of 1.31 and a beta of 0.55. The business’s 50-day simple moving average is $268.94 and its 200 day simple moving average is $250.00. The company has a debt-to-equity ratio of 16.40, a quick ratio of 0.54 and a current ratio of 0.92.

Cencora (NYSE:COR) last announced its 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%. As a group, sell-side analysts expect that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders 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 yield of 0.76%. The ex-dividend date was Friday, February 14th. Cencora’s dividend payout ratio is presently 31.29%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on COR. Morgan Stanley set a $288.00 price objective on Cencora in a report on Tuesday, April 15th. StockNews.com upgraded Cencora from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Wells Fargo & Company upped 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, March 14th. Evercore ISI upped 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. Finally, JPMorgan Chase & Co. upped their price target on Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $284.55.

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.