Raymond James Financial Inc. Acquires Shares of 1,435,196 Cencora, Inc. (NYSE:COR)

Raymond James Financial Inc. purchased a new position in shares of Cencora, Inc. (NYSE:COR - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,435,196 shares of the company's stock, valued at approximately $322,460,000. Raymond James Financial Inc. owned 0.74% of Cencora as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of COR. Pacer Advisors Inc. raised its holdings in Cencora by 6,855.3% in the 3rd quarter. Pacer Advisors Inc. now owns 2,065,374 shares of the company's stock valued at $464,874,000 after buying an additional 2,035,679 shares during the period. Wellington Management Group LLP raised its holdings in Cencora by 7.0% in 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 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 period. Two Sigma Advisers LP raised its holdings in 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 buying an additional 292,600 shares during the period. Finally, State Street Corp raised its holdings in Cencora by 3.8% in 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 during the period. Hedge funds and other institutional investors own 97.52% of the company's stock.

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Cencora Stock Up 0.3 %

Shares of Cencora stock traded up $0.77 on Friday, reaching $254.54. 2,250,571 shares of the company were exchanged, compared to its average volume of 1,521,899. Cencora, Inc. has a 1-year low of $214.77 and a 1-year high of $262.26. The company has a market cap of $49.36 billion, a P/E ratio of 36.21, a price-to-earnings-growth ratio of 1.31 and a beta of 0.51. The company has a debt-to-equity ratio of 16.40, a current ratio of 0.92 and a quick ratio of 0.54. The stock's 50 day moving average price is $244.34 and its 200-day moving average price is $238.39.

Cencora (NYSE:COR - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $3.73 EPS 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, equities analysts forecast that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend was Friday, February 14th. Cencora's dividend payout ratio is presently 31.29%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on COR. Wells Fargo & Company boosted their price objective 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. Evercore ISI boosted their price objective on shares of Cencora from $270.00 to $280.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. JPMorgan Chase & Co. boosted their price objective on shares of Cencora from $289.00 to $301.00 and gave the company an "overweight" rating in a report on Friday, January 24th. Mizuho initiated coverage on Cencora in a research report on Wednesday, December 4th. They issued an "outperform" rating and a $280.00 target price for the company. Finally, StockNews.com downgraded Cencora from a "buy" rating to a "hold" rating in a research report on Tuesday, March 4th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Cencora has an average rating of "Moderate Buy" and an average price target of $277.90.

Insider Transactions at Cencora

In related news, EVP Silvana Battaglia sold 5,000 shares of the company's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $242.24, for a total value 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 represents a 24.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Robert P. Mauch sold 4,970 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $255.00, for a total value of $1,267,350.00. Following the completion of the transaction, the chief executive officer now directly owns 51,070 shares of the company's stock, valued at $13,022,850. This trade represents a 8.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,648 shares of company stock valued at $2,862,342. 10.80% of the stock is currently owned by corporate insiders.

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.