Bank of Montreal Can Boosts Holdings in Cencora, Inc. (NYSE:COR)

Bank of Montreal Can boosted its stake in shares of Cencora, Inc. (NYSE:COR - Free Report) by 30.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 296,033 shares of the company's stock after purchasing an additional 69,142 shares during the period. Bank of Montreal Can owned approximately 0.15% of Cencora worth $66,513,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in COR. Cerity Partners LLC lifted its stake in Cencora by 1.1% during the 4th quarter. Cerity Partners LLC now owns 39,887 shares of the company's stock valued at $8,965,000 after acquiring an additional 430 shares during the period. Federated Hermes Inc. boosted its holdings in Cencora by 14.9% in the fourth quarter. Federated Hermes Inc. now owns 476,035 shares of the company's stock valued at $106,956,000 after purchasing an additional 61,819 shares during the last quarter. Waterloo Capital L.P. acquired a new stake in Cencora during the 4th quarter worth about $641,000. Russell Investments Group Ltd. raised its position in Cencora by 22.7% during the fourth quarter. Russell Investments Group Ltd. now owns 220,517 shares of the company's stock valued at $49,546,000 after acquiring an additional 40,751 shares in the last quarter. Finally, Wedbush Securities Inc. lifted its holdings in Cencora by 5.0% in the fourth quarter. Wedbush Securities Inc. now owns 8,538 shares of the company's stock valued at $1,918,000 after acquiring an additional 405 shares during the period. 97.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company lifted their target price 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. Bank of America increased their price objective on shares of Cencora from $270.00 to $285.00 and gave the company a "neutral" rating in a report on Friday. JPMorgan Chase & Co. raised their price objective on Cencora from $289.00 to $301.00 and gave the company an "overweight" rating in a report on Friday, January 24th. StockNews.com raised shares of Cencora from a "hold" rating to a "buy" rating in a report on Wednesday, March 12th. Finally, Evercore ISI raised their price target on shares of Cencora from $270.00 to $280.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $284.20.

Remove Ads

Insider Activity

In other news, Chairman Steven H. Collis sold 14,578 shares of the company'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 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Lazarus Krikorian sold 2,000 shares of the firm's 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 completion of the sale, the chief accounting officer now owns 20,154 shares in the company, valued at approximately $5,241,249.24. This represents a 9.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,675 shares of company stock valued at $8,034,778. 10.80% of the stock is currently owned by corporate insiders.

Cencora Trading Up 0.0 %

COR stock traded up $0.12 during midday trading on Tuesday, hitting $284.41. 228,361 shares of the company's stock were exchanged, compared to its average volume of 1,503,159. Cencora, Inc. has a 1-year low of $214.77 and a 1-year high of $296.65. The business has a 50-day simple moving average of $260.88 and a two-hundred day simple moving average of $245.57. The stock has a market capitalization of $55.15 billion, a PE ratio of 40.47, a P/E/G ratio of 1.31 and a beta of 0.55. The company has a current ratio of 0.92, a quick ratio of 0.54 and a debt-to-equity ratio of 16.40.

Cencora (NYSE:COR - Get Free Report) last posted its earnings results on Wednesday, February 5th. The company reported $3.73 EPS for the quarter, beating 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%. On average, sell-side analysts predict that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Dividend Announcement

The company also recently declared 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. The ex-dividend date was Friday, February 14th. This represents a $2.20 annualized dividend and a dividend yield of 0.77%. Cencora's dividend payout ratio is currently 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.