Swedbank AB Raises Stock Position in Cencora, Inc. (NYSE:COR)

Swedbank AB boosted its stake in shares of Cencora, Inc. (NYSE:COR - Free Report) by 2.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,394,449 shares of the company's stock after purchasing an additional 31,104 shares during the quarter. Swedbank AB owned about 0.70% of Cencora worth $313,863,000 at the end of the most recent reporting period.

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

Cencora Stock Up 3.7 %

Cencora stock traded up $8.31 during mid-day trading on Tuesday, reaching $233.12. The stock had a trading volume of 3,202,365 shares, compared to its average volume of 1,424,394. The company has a debt-to-equity ratio of 3.93, a quick ratio of 0.55 and a current ratio of 0.89. The stock's 50-day simple moving average is $232.64 and its 200-day simple moving average is $231.18. Cencora, Inc. has a fifty-two week low of $182.75 and a fifty-two week high of $247.66. The firm has a market capitalization of $46.50 billion, a PE ratio of 24.60, a price-to-earnings-growth ratio of 1.40 and a beta of 0.44.

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

Cencora Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend was Friday, August 9th. Cencora's payout ratio is currently 22.32%.

Wall Street Analyst Weigh In

COR has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Cencora from $280.00 to $287.00 and gave the company an "overweight" rating in a research report on Wednesday, August 21st. Robert W. Baird reduced their target price on Cencora from $287.00 to $283.00 and set an "outperform" rating on the stock in a report on Friday, September 6th. StockNews.com cut Cencora from a "strong-buy" rating to a "buy" rating in a report on Friday, September 20th. Leerink Partners lowered their target price on Cencora from $277.00 to $275.00 and set an "outperform" rating for the company in a research note on Monday, October 7th. Finally, Wells Fargo & Company lifted their price target on shares of Cencora from $236.00 to $249.00 and gave the company an "equal weight" rating in a report on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $259.44.

Insider Buying and Selling

In related news, EVP Silvana Battaglia sold 1,473 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $242.69, for a total transaction 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of Cencora stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $240.56, for a total value of $1,067,646,415.76. Following the sale, the insider now owns 19,980,000 shares of the company's stock, valued at approximately $4,806,388,800. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Silvana Battaglia sold 1,473 shares of the 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 transaction, the executive vice president now owns 10,948 shares of the company's stock, valued at $2,656,970.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 15.80% of the stock is owned by corporate insiders.

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.