Federated Hermes Inc. Has $106.96 Million Position in Cencora, Inc. (NYSE:COR)

Federated Hermes Inc. increased its stake in shares of Cencora, Inc. (NYSE:COR) by 14.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 476,035 shares of the company’s stock after buying an additional 61,819 shares during the period. Federated Hermes Inc. owned 0.25% of Cencora worth $106,956,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Cencora in the fourth quarter valued at approximately $478,309,000. Raymond James Financial Inc. bought a new stake in shares of Cencora during the fourth quarter worth $322,460,000. Wellington Management Group LLP lifted its stake in shares of Cencora by 7.0% during the third quarter. Wellington Management Group LLP now owns 5,193,386 shares of the company’s stock valued at $1,168,927,000 after acquiring an additional 338,452 shares during the period. Amundi boosted its holdings in Cencora by 30.8% in the fourth quarter. Amundi now owns 1,338,710 shares of the company’s stock valued at $318,385,000 after acquiring an additional 314,846 shares during the last quarter. Finally, Nordea Investment Management AB increased its position in Cencora by 40.2% in the fourth quarter. Nordea Investment Management AB now owns 1,077,272 shares of the company’s stock worth $243,173,000 after purchasing an additional 308,773 shares during the period. Institutional investors and hedge funds own 97.52% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on COR. StockNews.com upgraded shares of Cencora from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Wells Fargo & Company increased their price objective 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. Evercore ISI lifted their target price on shares of Cencora from $270.00 to $280.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Finally, JPMorgan Chase & Co. raised their price target on Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $280.20.

Cencora Stock Performance

Shares of Cencora stock opened at $279.29 on Friday. Cencora, Inc. has a 12 month low of $214.77 and a 12 month high of $296.65. 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 company has a market capitalization of $54.16 billion, a PE ratio of 39.73, a PEG ratio of 1.31 and a beta of 0.55. The stock’s fifty day simple moving average is $257.28 and its 200 day simple moving average is $242.70.

Cencora (NYSE:COR) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $3.73 earnings per share (EPS) 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%. On average, research analysts predict that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Dividend Announcement

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

Insider Activity at Cencora

In other news, EVP Silvana Battaglia sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $242.24, for a total transaction of $1,211,200.00. Following the completion of the transaction, the executive vice president now directly owns 15,374 shares of the company’s stock, valued at $3,724,197.76. This trade represents a 24.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Steven H. Collis sold 14,578 shares of the business’s stock in a transaction on 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 represents a 4.38 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,675 shares of company stock valued at $8,034,778. 10.80% of the stock is owned by insiders.

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.