Park National Corp OH Acquires Shares of 24,476 Cencora, Inc. (NYSE:COR)

Park National Corp OH bought a new stake in shares of Cencora, Inc. (NYSE:COR) in the 1st quarter, Holdings Channel reports. The institutional investor bought 24,476 shares of the company’s stock, valued at approximately $5,947,000.

A number of other large investors also recently made changes to their positions in the stock. Fisher Asset Management LLC bought a new position in Cencora during the fourth quarter worth about $244,000. Trust Co. of Vermont bought a new stake in shares of Cencora in the 4th quarter valued at about $62,000. Wahed Invest LLC acquired a new stake in shares of Cencora in the 4th quarter valued at approximately $567,000. Vanguard Group Inc. bought a new position in Cencora during the 4th quarter worth approximately $4,212,508,000. Finally, Hennessy Advisors Inc. acquired a new position in Cencora during the fourth quarter valued at approximately $3,307,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

Insider Transactions at Cencora

In other Cencora news, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $215.12, for a total value of $399,991,976.80. Following the transaction, the insider now directly owns 24,418,171 shares of the company’s stock, valued at approximately $5,252,836,945.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Cencora news, COO Robert P. Mauch sold 57,564 shares of Cencora stock in a transaction on Monday, April 15th. The stock was sold at an average price of $235.09, for a total value of $13,532,720.76. Following the completion of the transaction, the chief operating officer now directly owns 24,412 shares of the company’s stock, valued at approximately $5,739,017.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $215.12, for a total value of $399,991,976.80. Following the completion of the transaction, the insider now directly owns 24,418,171 shares of the company’s stock, valued at approximately $5,252,836,945.52. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,956,675 shares of company stock worth $422,352,056. Company insiders own 15.80% of the company’s stock.

Cencora Stock Performance

Shares of COR stock traded up $3.04 on Tuesday, reaching $237.74. The stock had a trading volume of 456,330 shares, compared to its average volume of 1,330,908. The firm’s 50-day moving average is $229.49 and its two-hundred day moving average is $226.12. The firm has a market capitalization of $47.42 billion, a price-to-earnings ratio of 25.87, a P/E/G ratio of 1.62 and a beta of 0.48. The company has a quick ratio of 0.53, a current ratio of 0.89 and a debt-to-equity ratio of 3.41. Cencora, Inc. has a 12 month low of $171.65 and a 12 month high of $246.75.

Cencora (NYSE:COR) last posted its earnings results on Wednesday, May 1st. The company reported $3.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.65 by $0.15. Cencora had a net margin of 0.67% and a return on equity of 268.67%. The company had revenue of $68.41 billion during the quarter, compared to analysts’ expectations of $70.60 billion. During the same quarter last year, the company posted $3.50 EPS. Cencora’s quarterly revenue was up 7.8% compared to the same quarter last year. On average, research analysts expect that Cencora, Inc. will post 13.44 EPS for the current fiscal year.

Cencora Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend was Thursday, May 9th. Cencora’s payout ratio is 22.32%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Leerink Partnrs reiterated an “outperform” rating on shares of Cencora in a report on Monday, February 26th. SVB Leerink initiated coverage on Cencora in a report on Monday, February 26th. They set an “outperform” rating and a $261.00 target price on the stock. Citigroup boosted their target price on Cencora from $265.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Robert W. Baird raised their price target on Cencora from $275.00 to $277.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. Finally, StockNews.com lowered Cencora from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Cencora currently has an average rating of “Moderate Buy” and an average price target of $233.90.

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.