2,128,845 Shares in Cencora, Inc. (NYSE:COR) Bought by Norges Bank

Norges Bank purchased a new stake in shares of Cencora, Inc. (NYSE:COR) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,128,845 shares of the company’s stock, valued at approximately $478,309,000. Norges Bank owned 1.10% of Cencora at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. JFS Wealth Advisors LLC increased its position in Cencora by 63.0% during the 4th quarter. JFS Wealth Advisors LLC now owns 119 shares of the company’s stock worth $27,000 after purchasing an additional 46 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Cencora in the fourth quarter worth $30,000. Kentucky Trust Co purchased a new position in shares of Cencora in the 4th quarter valued at $33,000. Householder Group Estate & Retirement Specialist LLC lifted its holdings in shares of Cencora by 85.2% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 150 shares of the company’s stock valued at $33,000 after acquiring an additional 69 shares in the last quarter. Finally, WASHINGTON TRUST Co boosted its position in Cencora by 37.7% during the 4th quarter. WASHINGTON TRUST Co now owns 168 shares of the company’s stock worth $38,000 after purchasing an additional 46 shares during the period. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Cencora news, Chairman Steven H. Collis sold 14,578 shares of the firm’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $269.51, for a total transaction of $3,928,916.78. Following the completion of the sale, the chairman now directly owns 317,913 shares in the company, valued at approximately $85,680,732.63. This trade represents a 4.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Elizabeth S. Campbell sold 4,127 shares of Cencora stock in a transaction dated 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 transaction, the executive vice president now directly owns 14,665 shares in the company, valued at approximately $3,934,326.20. This trade represents a 21.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,675 shares of company stock worth $8,034,778 in the last ninety days. 10.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently issued reports on COR. Evercore ISI lifted their price target on shares of Cencora from $270.00 to $280.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Mizuho began coverage on Cencora in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 price target on the stock. JPMorgan Chase & Co. increased their price target on Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Wells Fargo & Company lifted their price objective on Cencora from $251.00 to $274.00 and gave the stock an “equal weight” rating in a report on Friday, March 14th. Finally, StockNews.com upgraded 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, Cencora currently has an average rating of “Moderate Buy” and a consensus target price of $280.20.

Cencora Stock Performance

COR opened at $275.16 on Friday. The business has a 50 day moving average price of $253.81 and a two-hundred day moving average price of $241.18. The company has a debt-to-equity ratio of 16.40, a current ratio of 0.92 and a quick ratio of 0.54. The company has a market capitalization of $53.36 billion, a price-to-earnings ratio of 39.14, a price-to-earnings-growth ratio of 1.31 and a beta of 0.51. Cencora, Inc. has a 1-year low of $214.77 and a 1-year high of $275.57.

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

Cencora Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were paid a $0.55 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.20 annualized dividend and a dividend yield of 0.80%. Cencora’s dividend payout ratio is currently 31.29%.

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.