Harbour Trust & Investment Management Co Raises Stock Position in Cencora, Inc. (NYSE:COR)

Harbour Trust & Investment Management Co raised its stake in shares of Cencora, Inc. (NYSE:COR) by 9.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,478 shares of the company’s stock after buying an additional 800 shares during the period. Harbour Trust & Investment Management Co’s holdings in Cencora were worth $2,133,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD bought a new position in Cencora in the first quarter valued at about $2,183,619,000. JPMorgan Chase & Co. purchased a new position in shares of Cencora in the first quarter worth approximately $1,199,695,000. Boston Partners bought a new stake in Cencora during the first quarter valued at approximately $1,001,269,000. Capital Research Global Investors purchased a new stake in Cencora during the first quarter valued at approximately $650,424,000. Finally, Bessemer Group Inc. bought a new position in Cencora in the first quarter worth approximately $556,245,000. 97.52% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

COR has been the subject of several analyst reports. Robert W. Baird reduced their price objective on Cencora from $287.00 to $283.00 and set an “outperform” rating for the company in a research note on Friday, September 6th. Leerink Partners reduced their price target on Cencora from $277.00 to $275.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. Wells Fargo & Company lifted their price target on shares of Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. upped their price target on shares of Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Finally, StockNews.com cut Cencora from a “strong-buy” rating to a “buy” rating in a report on Friday, September 20th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $259.44.

Insider Activity

In other Cencora news, EVP Silvana Battaglia sold 1,473 shares of Cencora stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total transaction of $357,482.37. Following the completion of the transaction, the executive vice president now directly owns 10,948 shares of the company’s stock, valued at $2,656,970.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Cencora news, EVP Silvana Battaglia sold 1,473 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total value of $357,482.37. Following the completion of the sale, the executive vice president now owns 10,948 shares of the company’s stock, valued at $2,656,970.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Steven H. Collis sold 21,509 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $235.80, for a total value of $5,071,822.20. Following the completion of the sale, the chairman now owns 285,088 shares in the company, valued at approximately $67,223,750.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,461,153 shares of company stock valued at $1,073,075,720. 15.80% of the stock is currently owned by insiders.

Cencora Trading Up 0.3 %

Shares of COR opened at $235.17 on Friday. The stock has a market capitalization of $46.91 billion, a PE ratio of 25.73, a P/E/G ratio of 1.40 and a beta of 0.44. The company’s fifty day moving average is $232.22 and its 200 day moving average is $230.91. The company has a debt-to-equity ratio of 3.93, a quick ratio of 0.55 and a current ratio of 0.89. Cencora, Inc. has a fifty-two week low of $182.75 and a fifty-two week high of $247.66.

Cencora (NYSE:COR) last announced its earnings results on Wednesday, July 31st. The company reported $3.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.18 by $0.16. The firm had revenue of $74.20 billion for the quarter, compared to analysts’ expectations of $73.32 billion. Cencora had a net margin of 0.65% and a return on equity of 266.60%. The business’s revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the company earned $2.92 EPS. Sell-side analysts expect that Cencora, Inc. will post 13.63 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date was Friday, August 9th. Cencora’s dividend payout ratio (DPR) is 22.32%.

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.