Korea Investment CORP Raises Stock Position in Cencora, Inc. (NYSE:COR)

Korea Investment CORP grew its holdings in Cencora, Inc. (NYSE:COR) by 5.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 130,637 shares of the company’s stock after acquiring an additional 6,600 shares during the period. Korea Investment CORP’s holdings in Cencora were worth $29,352,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in COR. United Bank boosted its stake in Cencora by 4.2% in the 3rd 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 period. CreativeOne Wealth LLC purchased a new position in Cencora during the third quarter valued at $1,212,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Cencora by 3.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 90,767 shares of the company’s stock valued at $20,430,000 after acquiring an additional 2,711 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Cencora by 1.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,552,213 shares of the company’s stock worth $349,372,000 after purchasing an additional 18,782 shares in the last quarter. Finally, Public Sector Pension Investment Board boosted its holdings in shares of Cencora by 53.2% during the 3rd quarter. Public Sector Pension Investment Board now owns 6,908 shares of the company’s stock valued at $1,555,000 after purchasing an additional 2,400 shares during the last quarter. Institutional investors own 97.52% of the company’s stock.

Cencora Stock Up 0.4 %

NYSE:COR opened at $275.16 on Friday. The company has a debt-to-equity ratio of 16.40, a current ratio of 0.92 and a quick ratio of 0.54. Cencora, Inc. has a 1-year low of $214.77 and a 1-year high of $275.57. The company has a 50-day moving average of $253.81 and a 200 day moving average of $241.18. The firm has a market cap of $53.36 billion, a PE ratio of 39.14, a price-to-earnings-growth ratio of 1.31 and a beta of 0.51.

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

Cencora Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a $0.55 dividend. 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 dividend payout ratio is currently 31.29%.

Insider Transactions at Cencora

In other Cencora news, CAO Lazarus Krikorian sold 2,000 shares of Cencora stock in a transaction on Monday, March 10th. The shares were sold at an average price of $260.06, for a total value of $520,120.00. Following the transaction, the chief accounting officer now directly owns 20,154 shares of the company’s stock, valued at approximately $5,241,249.24. The trade was a 9.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Steven H. Collis sold 14,578 shares of the stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $269.51, for a total value of $3,928,916.78. Following the sale, the chairman now owns 317,913 shares of the company’s stock, 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. Insiders have sold a total of 30,675 shares of company stock valued at $8,034,778 in the last 90 days. Insiders own 10.80% of the company’s stock.

Wall Street Analysts Forecast Growth

COR has been the topic of a number of research analyst reports. Evercore ISI boosted their target price on 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 increased their target price on Cencora from $251.00 to $274.00 and gave the company an “equal weight” rating in a research report on Friday, March 14th. StockNews.com raised shares of Cencora from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Mizuho began coverage on Cencora in a report on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 target price for the company. Finally, JPMorgan Chase & Co. upped their price target on shares of Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Cencora currently has a consensus rating of “Moderate Buy” and a consensus price target of $280.20.

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.