Alerus Financial NA Has $7.62 Million Holdings in Cencora, Inc. (NYSE:COR)

Alerus Financial NA trimmed its stake in shares of Cencora, Inc. (NYSE:COR) by 11.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,896 shares of the company’s stock after selling 4,440 shares during the quarter. Alerus Financial NA’s holdings in Cencora were worth $7,616,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. United Bank grew its holdings in shares of Cencora by 4.2% during the third quarter. United Bank now owns 5,601 shares of the company’s stock worth $1,261,000 after purchasing an additional 225 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Cencora in the 3rd quarter valued at approximately $974,000. CreativeOne Wealth LLC bought a new position in shares of Cencora during the third quarter valued at $1,212,000. MetLife Investment Management LLC grew its stake in shares of Cencora by 1.5% in the third quarter. MetLife Investment Management LLC now owns 52,775 shares of the company’s stock worth $11,879,000 after purchasing an additional 777 shares during the last quarter. Finally, FORA Capital LLC bought a new position in shares of Cencora during the third quarter worth about $1,632,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

Cencora Trading Up 1.1 %

NYSE COR opened at $274.33 on Friday. Cencora, Inc. has a 12 month low of $214.77 and a 12 month high of $274.93. 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 firm has a market capitalization of $53.20 billion, a P/E ratio of 39.02, a PEG ratio of 1.31 and a beta of 0.51. The business has a fifty day simple moving average of $253.15 and a 200 day simple moving average of $240.91.

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

Cencora Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors 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 dividend yield of 0.80%. The ex-dividend date of this dividend was Friday, February 14th. Cencora’s payout ratio is 31.29%.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

Several brokerages recently commented on COR. JPMorgan Chase & Co. increased their target price on shares of Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Evercore ISI increased their price objective 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 boosted their target price 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. Mizuho started coverage on Cencora in a report on Wednesday, December 4th. They set an “outperform” rating and a $280.00 price target for the company. Finally, StockNews.com upgraded Cencora from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price 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.