CIBC Asset Management Inc Buys 1,305 Shares of Cencora, Inc. (NYSE:COR)

CIBC Asset Management Inc boosted its stake in shares of Cencora, Inc. (NYSE:COR) by 3.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,542 shares of the company’s stock after buying an additional 1,305 shares during the quarter. CIBC Asset Management Inc’s holdings in Cencora were worth $9,101,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. State Street Corp lifted its holdings in Cencora by 3.8% during the 3rd quarter. State Street Corp now owns 8,045,896 shares of the company’s stock valued at $1,810,970,000 after buying an additional 291,867 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Cencora by 7.0% during the 3rd quarter. Wellington Management Group LLP now owns 5,193,386 shares of the company’s stock valued at $1,168,927,000 after buying an additional 338,452 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Cencora by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 4,195,851 shares of the company’s stock valued at $941,183,000 after purchasing an additional 189,054 shares in the last quarter. Pacer Advisors Inc. raised its holdings in shares of Cencora by 6.7% in the 4th quarter. Pacer Advisors Inc. now owns 2,204,242 shares of the company’s stock valued at $495,249,000 after purchasing an additional 138,868 shares in the last quarter. Finally, Two Sigma Advisers LP raised its holdings in shares of Cencora by 21.7% in the 3rd quarter. Two Sigma Advisers LP now owns 1,638,400 shares of the company’s stock valued at $368,771,000 after purchasing an additional 292,600 shares in the last quarter. Institutional investors own 97.52% of the company’s stock.

Cencora Trading Down 0.5 %

NYSE COR opened at $241.37 on Wednesday. The company has a quick ratio of 0.53, a current ratio of 0.92 and a debt-to-equity ratio of 16.40. The firm has a market cap of $46.65 billion, a PE ratio of 34.33, a price-to-earnings-growth ratio of 1.49 and a beta of 0.49. The company has a 50 day moving average price of $238.75 and a 200 day moving average price of $237.41. Cencora, Inc. has a 52 week low of $214.77 and a 52 week high of $262.26.

Cencora (NYSE:COR) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share (EPS) for the quarter, topping 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 forecast that Cencora, Inc. will post 15.36 EPS for the current fiscal year.

Cencora Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be issued a $0.55 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.91%. Cencora’s dividend payout ratio is currently 31.29%.

Insiders Place Their Bets

In other Cencora news, EVP Silvana Battaglia sold 1,678 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $228.72, for a total value of $383,792.16. Following the completion of the transaction, the executive vice president now owns 20,329 shares of the company’s stock, valued at approximately $4,649,648.88. This trade represents a 7.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Steven H. Collis sold 50,000 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $243.97, for a total transaction of $12,198,500.00. Following the completion of the transaction, the chairman now directly owns 326,557 shares of the company’s stock, valued at approximately $79,670,111.29. This represents a 13.28 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 10.80% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on COR. Mizuho began coverage on shares of Cencora in a report on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 price target for the company. Wells Fargo & Company boosted their price target on shares of Cencora from $237.00 to $251.00 and gave the company an “equal weight” rating in a report on Wednesday, January 29th. Robert W. Baird boosted their price target on shares of Cencora from $287.00 to $292.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Evercore ISI boosted their price target on shares of Cencora from $270.00 to $280.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Finally, Barclays boosted their price target on shares of Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Cencora has an average rating of “Moderate Buy” and an average target price of $277.90.

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.