Northern Trust Corp Acquires 252,028 Shares of Cencora, Inc. (NYSE:COR)

Northern Trust Corp boosted its holdings in shares of Cencora, Inc. (NYSE:COR) by 11.6% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,421,237 shares of the company’s stock after acquiring an additional 252,028 shares during the period. Northern Trust Corp owned 1.25% of Cencora worth $544,004,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Whittier Trust Co. raised its stake in Cencora by 0.6% during the 4th quarter. Whittier Trust Co. now owns 7,856 shares of the company’s stock worth $1,765,000 after buying an additional 44 shares during the period. Shepherd Financial Partners LLC boosted its holdings in shares of Cencora by 0.9% in the fourth quarter. Shepherd Financial Partners LLC now owns 5,441 shares of the company’s stock valued at $1,223,000 after buying an additional 46 shares during the period. WASHINGTON TRUST Co raised its holdings in shares of Cencora by 37.7% during the fourth quarter. WASHINGTON TRUST Co now owns 168 shares of the company’s stock worth $38,000 after acquiring an additional 46 shares during the period. JFS Wealth Advisors LLC lifted its position in Cencora by 63.0% in the 4th quarter. JFS Wealth Advisors LLC now owns 119 shares of the company’s stock valued at $27,000 after acquiring an additional 46 shares in the last quarter. Finally, Cullen Frost Bankers Inc. increased its holdings in Cencora by 1.1% during the 4th quarter. Cullen Frost Bankers Inc. now owns 4,463 shares of the company’s stock worth $1,003,000 after purchasing an additional 47 shares in the last quarter. Institutional investors own 97.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Morgan Stanley set a $288.00 price objective on Cencora in a research report on Tuesday, April 15th. UBS Group raised their target price on shares of Cencora from $298.00 to $335.00 and gave the company a “buy” rating in a research report on Tuesday. JPMorgan Chase & Co. increased their price objective on shares of Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Wells Fargo & Company increased their price target on Cencora from $251.00 to $274.00 and gave the company an “equal weight” rating in a research report on Friday, March 14th. Finally, Evercore ISI increased their price objective on Cencora from $270.00 to $280.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $289.09.

Cencora Price Performance

Cencora stock opened at $290.12 on Wednesday. The company has a market capitalization of $56.26 billion, a price-to-earnings ratio of 41.27, a PEG ratio of 1.31 and a beta of 0.55. The stock’s 50 day moving average is $269.87 and its 200-day moving average is $250.27. 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, Inc. has a 12 month low of $214.77 and a 12 month high of $296.65.

Cencora (NYSE:COR) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $3.73 earnings per share 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%. Equities research analysts expect that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.76%. Cencora’s payout ratio is presently 31.29%.

Insider Activity

In related news, EVP Silvana Battaglia sold 5,000 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $242.24, for a total transaction of $1,211,200.00. Following the completion of the sale, the executive vice president now owns 15,374 shares of the company’s stock, valued at $3,724,197.76. This represents a 24.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Steven H. Collis sold 14,578 shares of the firm’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $269.51, for a total transaction of $3,928,916.78. Following the completion of the transaction, the chairman now directly owns 317,913 shares in the company, valued at approximately $85,680,732.63. This represents a 4.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,223 shares of company stock worth $13,580,967. Corporate insiders own 10.80% of the company’s stock.

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.