Truist Financial Corp Buys 433 Shares of Cencora, Inc. (NYSE:COR)

Truist Financial Corp grew its stake in Cencora, Inc. (NYSE:COR) by 0.1% during the fourth quarter, HoldingsChannel reports. The firm owned 341,014 shares of the company’s stock after buying an additional 433 shares during the quarter. Truist Financial Corp’s holdings in Cencora were worth $76,619,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in COR. Pacer Advisors Inc. raised its position in Cencora by 6,855.3% in the third quarter. Pacer Advisors Inc. now owns 2,065,374 shares of the company’s stock valued at $464,874,000 after purchasing an additional 2,035,679 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Cencora by 7.0% in 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 buying an additional 338,452 shares during the period. Nordea Investment Management AB raised its holdings in Cencora by 40.2% in the 4th quarter. Nordea Investment Management AB now owns 1,077,272 shares of the company’s stock valued at $243,173,000 after buying an additional 308,773 shares during the last quarter. Two Sigma Advisers LP boosted its position in Cencora by 21.7% during the 3rd quarter. Two Sigma Advisers LP now owns 1,638,400 shares of the company’s stock worth $368,771,000 after buying an additional 292,600 shares during the period. Finally, State Street Corp boosted its position in Cencora by 3.8% during the 3rd quarter. State Street Corp now owns 8,045,896 shares of the company’s stock worth $1,810,970,000 after buying an additional 291,867 shares during the period. 97.52% of the stock is owned by institutional investors.

Insider Activity

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

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Wells Fargo & Company lifted their price target on shares of Cencora from $237.00 to $251.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 29th. Robert W. Baird lifted their target price on Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. UBS Group upped their price target on Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. raised their price objective on Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Finally, Mizuho started coverage on Cencora in a report on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Cencora currently has an average rating of “Moderate Buy” and an average target price of $277.90.

Cencora Stock Performance

Shares of Cencora stock opened at $243.03 on Tuesday. The company has a market cap of $46.97 billion, a PE ratio of 34.57, a price-to-earnings-growth ratio of 1.49 and a beta of 0.49. The company has a quick ratio of 0.53, a current ratio of 0.92 and a debt-to-equity ratio of 16.40. Cencora, Inc. has a 52 week low of $214.77 and a 52 week high of $262.26. The business has a 50 day moving average price of $238.75 and a 200-day moving average price of $237.41.

Cencora (NYSE:COR) last posted its quarterly earnings data 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%. Equities analysts anticipate that Cencora, Inc. will post 15.36 earnings per share for the current fiscal year.

Cencora Announces Dividend

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