Mackenzie Financial Corp increased its stake in Cencora, Inc. (NYSE:COR - Free Report) by 9.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 81,001 shares of the company's stock after purchasing an additional 7,266 shares during the period. Mackenzie Financial Corp's holdings in Cencora were worth $18,250,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Rise Advisors LLC acquired a new position in shares of Cencora during the first quarter valued at approximately $25,000. Legacy Bridge LLC acquired a new stake in shares of Cencora during the 1st quarter valued at $27,000. New Millennium Group LLC purchased a new stake in shares of Cencora during the second quarter valued at $26,000. TCTC Holdings LLC acquired a new stake in shares of Cencora in the first quarter worth $29,000. Finally, TFO Wealth Partners LLC purchased a new position in Cencora during the first quarter valued at approximately $30,000. Institutional investors and hedge funds own 97.52% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms have issued reports on COR. JPMorgan Chase & Co. increased their target price on shares of Cencora from $280.00 to $287.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 21st. Leerink Partners reaffirmed an "outperform" rating and set a $275.00 price target on shares of Cencora in a research note on Thursday, June 27th. StockNews.com cut Cencora from a "strong-buy" rating to a "buy" rating in a research note on Friday, September 20th. Bank of America reiterated a "neutral" rating and issued a $245.00 target price (down from $275.00) on shares of Cencora in a research note on Wednesday, September 18th. Finally, Robert W. Baird reduced their price objective on shares of Cencora from $287.00 to $283.00 and set an "outperform" rating for the company in a research note on Friday, September 6th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, Cencora presently has a consensus rating of "Moderate Buy" and a consensus price target of $256.67.
Get Our Latest Analysis on COR
Insider Activity at Cencora
In other news, EVP Silvana Battaglia sold 1,473 shares of Cencora stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $242.69, for a total value of $357,482.37. Following the completion of the sale, the executive vice president now directly owns 10,948 shares of the company's stock, valued at approximately $2,656,970.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $240.56, for a total transaction of $1,067,646,415.76. Following the completion of the sale, the insider now directly owns 19,980,000 shares of the company's stock, valued at approximately $4,806,388,800. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Silvana Battaglia sold 1,473 shares of Cencora stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total transaction of $357,482.37. Following the completion of the transaction, the executive vice president now directly owns 10,948 shares in the company, valued at approximately $2,656,970.12. The disclosure for this sale can be found here. Insiders sold a total of 4,450,399 shares of company stock valued at $1,070,392,799 over the last quarter. Corporate insiders own 15.80% of the company's stock.
Cencora Stock Performance
Shares of NYSE COR traded down $0.71 during trading hours on Monday, reaching $224.21. The stock had a trading volume of 578,501 shares, compared to its average volume of 1,408,631. Cencora, Inc. has a twelve month low of $178.21 and a twelve month high of $247.66. The company has a debt-to-equity ratio of 3.93, a current ratio of 0.89 and a quick ratio of 0.55. The business's fifty day moving average is $234.96 and its two-hundred day moving average is $232.69. The company has a market cap of $44.72 billion, a price-to-earnings ratio of 24.54, a PEG ratio of 1.58 and a beta of 0.44.
Cencora (NYSE:COR - Get Free Report) last issued its earnings results on Wednesday, July 31st. The company reported $3.34 earnings per share for the quarter, beating the consensus estimate of $3.18 by $0.16. Cencora had a net margin of 0.65% and a return on equity of 266.60%. The business had revenue of $74.20 billion for the quarter, compared to analyst estimates of $73.32 billion. During the same period in the previous year, the business earned $2.92 EPS. The firm's revenue was up 10.8% on a year-over-year basis. As a group, research analysts expect that Cencora, Inc. will post 13.63 EPS for the current year.
Cencora Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were given a dividend of $0.51 per share. The ex-dividend date was Friday, August 9th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.91%. Cencora's payout ratio is 22.32%.
About Cencora
(
Free Report)
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.
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