Principal Financial Group Inc. Increases Holdings in Cencora, Inc. (NYSE:COR)

Principal Financial Group Inc. grew its holdings in Cencora, Inc. (NYSE:COR - Free Report) by 3.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 318,401 shares of the company's stock after acquiring an additional 11,675 shares during the quarter. Principal Financial Group Inc. owned 0.16% of Cencora worth $71,538,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Hickory Asset Management Inc. acquired a new stake in Cencora during the fourth quarter worth about $572,000. Sylvest Advisors LLC acquired a new position in Cencora in the 4th quarter worth about $1,105,000. Insight Wealth Strategies LLC raised its holdings in Cencora by 124.6% in the 4th quarter. Insight Wealth Strategies LLC now owns 20,249 shares of the company's stock valued at $4,549,000 after buying an additional 11,232 shares during the last quarter. Cerity Partners LLC raised its stake in shares of Cencora by 10.1% during the third quarter. Cerity Partners LLC now owns 39,457 shares of the company's stock valued at $8,881,000 after acquiring an additional 3,610 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its holdings in Cencora by 71.1% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 7,048 shares of the company's stock worth $1,583,000 after buying an additional 2,928 shares during the period. Institutional investors own 97.52% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on COR shares. JPMorgan Chase & Co. boosted their price target on shares of Cencora from $289.00 to $301.00 and gave the stock an "overweight" rating in a research report on Friday, January 24th. Evercore ISI raised their price objective on Cencora from $270.00 to $280.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Mizuho began coverage on shares of Cencora in a research report on Wednesday, December 4th. They set an "outperform" rating and a $280.00 target price for the company. Barclays increased their price target on Cencora from $263.00 to $290.00 and gave the company an "overweight" rating in a research report on Thursday, November 7th. Finally, UBS Group lifted their target price on shares of Cencora from $275.00 to $285.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $277.90.

Cencora Stock Performance

Shares of COR stock traded down $1.63 during trading on Friday, reaching $241.84. 411,530 shares of the company's stock traded hands, compared to its average volume of 1,468,250. The company has a market capitalization of $46.90 billion, a P/E ratio of 34.38, a PEG ratio of 1.32 and a beta of 0.49. The firm's 50-day moving average is $239.34 and its 200 day moving average is $237.46. Cencora, Inc. has a 1 year low of $214.77 and a 1 year high of $262.26. 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 released its quarterly earnings data 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%. Equities research analysts expect that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 0.91%. The ex-dividend date is Friday, February 14th. Cencora's payout ratio is 31.29%.

Insiders Place Their Bets

In other news, EVP Silvana Battaglia sold 1,678 shares of the business's stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $228.72, for a total transaction of $383,792.16. Following the completion of the transaction, the executive vice president now owns 20,329 shares of the company's stock, valued at approximately $4,649,648.88. The trade was a 7.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Steven H. Collis sold 50,000 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $243.97, for a total transaction of $12,198,500.00. Following the completion of the sale, the chairman now directly owns 326,557 shares in the company, valued at $79,670,111.29. This represents a 13.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 10.80% of the company's stock.

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.