Synovus Financial Corp Raises Position in Cencora, Inc. (NYSE:COR)

Synovus Financial Corp raised its holdings in Cencora, Inc. (NYSE:COR - Free Report) by 9.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,658 shares of the company's stock after buying an additional 1,459 shares during the period. Synovus Financial Corp's holdings in Cencora were worth $3,967,000 as of its most recent filing with the Securities and Exchange Commission.

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

Cencora Trading Up 0.9 %

Shares of COR traded up $2.58 during trading hours on Friday, hitting $287.02. The company had a trading volume of 1,617,494 shares, compared to its average volume of 1,508,755. Cencora, Inc. has a 52-week low of $214.77 and a 52-week high of $296.65. 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's 50 day moving average price is $263.20 and its 200 day moving average price is $246.54. The firm has a market cap of $55.66 billion, a P/E ratio of 40.83, a P/E/G ratio of 1.31 and a beta of 0.55.

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

Cencora Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a $0.55 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.20 annualized dividend and a dividend yield of 0.77%. Cencora's dividend payout ratio is 31.29%.

Insiders Place Their Bets

In related news, CAO Lazarus Krikorian sold 2,000 shares of Cencora stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $260.06, for a total transaction of $520,120.00. Following the sale, the chief accounting officer now directly owns 20,154 shares in the company, valued at $5,241,249.24. The trade was a 9.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Silvana Battaglia sold 5,000 shares of the stock in a transaction on 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 completion of the transaction, the executive vice president now owns 15,374 shares of the company's stock, valued at approximately $3,724,197.76. This trade represents a 24.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,675 shares of company stock worth $8,034,778 over the last three months. Company insiders own 10.80% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Evercore ISI raised their target price on Cencora from $270.00 to $280.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. Wells Fargo & Company increased their target price on shares of Cencora from $251.00 to $274.00 and gave the company an "equal weight" rating in a research report on Friday, March 14th. Bank of America upped their price objective on Cencora from $270.00 to $285.00 and gave the company a "neutral" rating in a research note on Friday, April 11th. StockNews.com raised Cencora from a "hold" rating to a "buy" rating in a research report on Wednesday, March 12th. Finally, Morgan Stanley set a $288.00 price objective on Cencora in a research note on Tuesday. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $284.55.

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.