Russell Investments Group Ltd. Boosts Holdings in Cencora, Inc. (NYSE:COR)

Russell Investments Group Ltd. grew its position in shares of Cencora, Inc. (NYSE:COR) by 22.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 220,517 shares of the company’s stock after purchasing an additional 40,751 shares during the period. Russell Investments Group Ltd. owned approximately 0.11% of Cencora worth $49,546,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in COR. United Bank raised its holdings in shares of Cencora by 4.2% in the 3rd quarter. United Bank now owns 5,601 shares of the company’s stock valued at $1,261,000 after acquiring an additional 225 shares in the last quarter. Arete Wealth Advisors LLC raised its stake in Cencora by 4.9% in the third quarter. Arete Wealth Advisors LLC now owns 2,412 shares of the company’s stock valued at $541,000 after purchasing an additional 113 shares in the last quarter. Quantinno Capital Management LP lifted its position in Cencora by 78.6% during the third quarter. Quantinno Capital Management LP now owns 24,838 shares of the company’s stock valued at $5,591,000 after purchasing an additional 10,933 shares during the last quarter. EP Wealth Advisors LLC grew its stake in Cencora by 32.5% in the 3rd quarter. EP Wealth Advisors LLC now owns 5,279 shares of the company’s stock worth $1,188,000 after buying an additional 1,296 shares in the last quarter. Finally, iA Global Asset Management Inc. increased its holdings in shares of Cencora by 400.5% in the 3rd quarter. iA Global Asset Management Inc. now owns 7,087 shares of the company’s stock worth $1,595,000 after buying an additional 5,671 shares during the last quarter. Institutional investors own 97.52% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Lazarus Krikorian sold 2,000 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $260.06, for a total value of $520,120.00. Following the completion of the transaction, the chief accounting officer now owns 20,154 shares of the company’s stock, valued at approximately $5,241,249.24. This represents a 9.03 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Silvana Battaglia sold 5,000 shares of Cencora stock in a transaction that occurred on 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 sale, the executive vice president now owns 15,374 shares in the company, valued at $3,724,197.76. This represents a 24.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,675 shares of company stock worth $8,034,778 over the last three months. Company insiders own 10.80% of the company’s stock.

Cencora Stock Down 3.5 %

Shares of NYSE:COR opened at $279.29 on Monday. The stock’s 50-day moving average is $257.28 and its 200 day moving average is $242.81. The company has a market cap of $54.16 billion, a PE ratio of 39.73, a P/E/G ratio of 1.31 and a beta of 0.55. The company has a debt-to-equity ratio of 16.40, a current ratio of 0.92 and a quick ratio of 0.54. Cencora, Inc. has a 1 year low of $214.77 and a 1 year high of $296.65.

Cencora (NYSE:COR) last announced its earnings results on Wednesday, February 5th. The company reported $3.73 EPS for the quarter, beating analysts’ consensus estimates of $3.50 by $0.23. Cencora had a return on equity of 328.62% and a net margin of 0.46%. Sell-side analysts anticipate that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on COR. Evercore ISI upped their target price on shares of Cencora from $270.00 to $280.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Wells Fargo & Company increased their price objective on Cencora from $251.00 to $274.00 and gave the company an “equal weight” rating in a research report on Friday, March 14th. JPMorgan Chase & Co. raised their price objective on Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Finally, StockNews.com raised Cencora from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Cencora 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.