KLP Kapitalforvaltning AS Invests $19.54 Million in Cencora, Inc. (NYSE:COR)

KLP Kapitalforvaltning AS bought a new position in Cencora, Inc. (NYSE:COR - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 86,981 shares of the company's stock, valued at approximately $19,543,000.

Several other large investors have also made changes to their positions in the company. JFS Wealth Advisors LLC boosted its position in Cencora by 63.0% during the fourth quarter. JFS Wealth Advisors LLC now owns 119 shares of the company's stock valued at $27,000 after purchasing an additional 46 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Cencora during the 4th quarter worth $30,000. Householder Group Estate & Retirement Specialist LLC raised its position in Cencora by 85.2% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 150 shares of the company's stock valued at $33,000 after purchasing an additional 69 shares in the last quarter. Kentucky Trust Co bought a new position in Cencora in the fourth quarter valued at about $33,000. Finally, WASHINGTON TRUST Co lifted its holdings in shares of Cencora by 37.7% during the fourth quarter. WASHINGTON TRUST Co now owns 168 shares of the company's stock worth $38,000 after purchasing an additional 46 shares during the period. Institutional investors and hedge funds own 97.52% of the company's stock.

Insider Activity

In other news, CEO Robert P. Mauch sold 4,970 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $255.00, for a total transaction 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 approximately $13,022,850. This represents a 8.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Silvana Battaglia sold 5,000 shares of Cencora stock in a transaction dated 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 sale, the executive vice president now owns 15,374 shares in the company, valued at $3,724,197.76. This trade represents a 24.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,675 shares of company stock valued at $8,034,778. 10.80% of the stock is currently owned by company insiders.

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Cencora Stock Performance

Shares of NYSE:COR traded up $2.94 during trading on Thursday, hitting $274.33. The stock had a trading volume of 1,015,455 shares, compared to its average volume of 1,379,449. The stock has a 50-day simple moving average of $252.47 and a two-hundred day simple moving average of $240.68. The company has a quick ratio of 0.54, a current ratio of 0.92 and a debt-to-equity ratio of 16.40. The stock has a market capitalization of $53.20 billion, a price-to-earnings ratio of 39.02, a price-to-earnings-growth ratio of 1.31 and a beta of 0.51. Cencora, Inc. has a 12-month low of $214.77 and a 12-month high of $274.80.

Cencora (NYSE:COR - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share for the quarter, topping the consensus estimate of $3.50 by $0.23. Cencora had a net margin of 0.46% and a return on equity of 328.62%. On average, equities research analysts expect that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 0.80%. The ex-dividend date of this dividend was Friday, February 14th. Cencora's dividend payout ratio is currently 31.29%.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. JPMorgan Chase & Co. upped their target price on Cencora from $289.00 to $301.00 and gave the company an "overweight" rating in a report on Friday, January 24th. Mizuho started coverage on Cencora in a research note on Wednesday, December 4th. They set an "outperform" rating and a $280.00 price target on the stock. Wells Fargo & Company upped their target price on shares of Cencora from $251.00 to $274.00 and gave the stock an "equal weight" rating in a report on Friday, March 14th. Evercore ISI lifted their price objective on shares of Cencora from $270.00 to $280.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. Finally, StockNews.com raised shares of Cencora from a "hold" rating to a "buy" rating in a report on Wednesday, March 12th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $280.20.

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.