Cencora, Inc. (NYSE:COR) Stock Position Lifted by Tobam

Tobam increased its position in shares of Cencora, Inc. (NYSE:COR - Free Report) by 85.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 25,030 shares of the company's stock after purchasing an additional 11,549 shares during the quarter. Tobam's holdings in Cencora were worth $5,634,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rise Advisors LLC acquired a new position in Cencora during the first quarter worth $25,000. New Millennium Group LLC acquired a new position in shares of Cencora in the second quarter worth $26,000. TCTC Holdings LLC acquired a new position in shares of Cencora in the first quarter worth $29,000. TFO Wealth Partners LLC acquired a new position in shares of Cencora in the first quarter worth $30,000. Finally, MFA Wealth Advisors LLC acquired a new position in shares of Cencora in the second quarter worth $30,000. 97.52% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Silvana Battaglia sold 1,473 shares of the stock in a transaction dated 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 owns 10,948 shares in the company, valued at approximately $2,656,970.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Silvana Battaglia sold 1,473 shares of the stock in a transaction dated 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 owns 10,948 shares in the company, valued at approximately $2,656,970.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Steven H. Collis sold 10,755 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $222.12, for a total value of $2,388,900.60. Following the completion of the sale, the chief executive officer now owns 285,088 shares of the company's stock, valued at approximately $63,323,746.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,450,399 shares of company stock worth $1,070,392,799 over the last three months. 15.80% of the stock is owned by insiders.

Cencora Trading Up 0.5 %

COR stock traded up $1.04 during trading on Thursday, reaching $222.20. 1,352,397 shares of the stock traded hands, compared to its average volume of 1,415,759. The firm has a market capitalization of $44.32 billion, a PE ratio of 24.31, a P/E/G ratio of 1.58 and a beta of 0.44. 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 50 day moving average price is $233.47 and its 200-day moving average price is $231.62. Cencora, Inc. has a 52-week low of $182.75 and a 52-week high of $247.66.

Cencora (NYSE:COR - Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $3.34 EPS for the quarter, topping the consensus estimate of $3.18 by $0.16. The company had revenue of $74.20 billion during the quarter, compared to analyst estimates of $73.32 billion. Cencora had a return on equity of 266.60% and a net margin of 0.65%. The firm's revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.92 earnings per share. As a group, sell-side analysts forecast that Cencora, Inc. will post 13.63 earnings per share for the current year.

Cencora Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were paid a dividend of $0.51 per share. The ex-dividend date was Friday, August 9th. This represents a $2.04 annualized dividend and a yield of 0.92%. Cencora's dividend payout ratio is presently 22.32%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on COR. Wells Fargo & Company boosted their price target on Cencora from $236.00 to $249.00 and gave the stock an "equal weight" rating in a report on Thursday, August 1st. StockNews.com cut Cencora from a "strong-buy" rating to a "buy" rating in a report on Friday, September 20th. Robert W. Baird cut their price target on Cencora from $287.00 to $283.00 and set an "outperform" rating for the company in a report on Friday, September 6th. Leerink Partners cut their price target on Cencora from $277.00 to $275.00 and set an "outperform" rating for the company in a report on Monday. Finally, JPMorgan Chase & Co. upped their target price on Cencora from $280.00 to $287.00 and gave the company an "overweight" rating in a research note on Wednesday, August 21st. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $259.44.

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.