Range Financial Group LLC Has $2.91 Million Stock Holdings in Cencora, Inc. (NYSE:COR)

Range Financial Group LLC grew its holdings in Cencora, Inc. (NYSE:COR) by 14.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,447 shares of the company’s stock after buying an additional 1,333 shares during the quarter. Cencora accounts for approximately 1.3% of Range Financial Group LLC’s holdings, making the stock its 17th biggest holding. Range Financial Group LLC’s holdings in Cencora were worth $2,905,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in COR. Norges Bank acquired a new stake in shares of Cencora during the 4th quarter worth about $478,309,000. Bank of America Corp DE increased its position in shares of Cencora by 62.3% during the 4th quarter. Bank of America Corp DE now owns 5,193,807 shares of the company’s stock worth $1,166,944,000 after purchasing an additional 1,994,256 shares in the last quarter. Castlekeep Investment Advisors LLC acquired a new stake in shares of Cencora during the 4th quarter worth about $399,508,000. GAMMA Investing LLC increased its position in shares of Cencora by 43,561.9% during the 1st quarter. GAMMA Investing LLC now owns 1,598,461 shares of the company’s stock worth $444,516,000 after purchasing an additional 1,594,800 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Cencora during the 4th quarter worth about $322,460,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

Cencora Stock Up 0.2%

Shares of NYSE:COR opened at $289.01 on Monday. Cencora, Inc. has a one year low of $218.65 and a one year high of $309.35. The company has a 50 day moving average of $286.29 and a 200-day moving average of $260.37. The company has a debt-to-equity ratio of 16.40, a current ratio of 0.92 and a quick ratio of 0.54. The stock has a market cap of $56.02 billion, a price-to-earnings ratio of 41.11, a P/E/G ratio of 1.31 and a beta of 0.58.

Cencora (NYSE:COR) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $4.42 EPS for the quarter, topping the consensus estimate of $4.07 by $0.35. Cencora had a net margin of 0.46% and a return on equity of 328.62%. The company had revenue of $75.50 billion during the quarter, compared to analysts’ expectations of $75.41 billion. During the same quarter in the previous year, the company earned $3.80 EPS. Cencora’s revenue was up 10.3% on a year-over-year basis. On average, sell-side analysts forecast that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 16th were paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 0.76%. The ex-dividend date was Friday, May 16th. Cencora’s payout ratio is 25.52%.

Insider Buying and Selling

In other Cencora news, EVP Elizabeth S. Campbell sold 4,127 shares of Cencora stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $268.28, for a total value of $1,107,191.56. Following the transaction, the executive vice president now owns 14,665 shares of the company’s stock, valued at approximately $3,934,326.20. The trade was a 21.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Robert P. Mauch sold 4,969 shares of Cencora stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $289.33, for a total transaction of $1,437,680.77. Following the completion of the transaction, the chief executive officer now directly owns 47,582 shares in the company, valued at approximately $13,766,900.06. The trade was a 9.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,253 shares of company stock valued at $10,582,297 in the last 90 days. 10.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on COR shares. UBS Group increased their price objective on shares of Cencora from $298.00 to $335.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Wells Fargo & Company raised shares of Cencora from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $274.00 to $337.00 in a report on Tuesday, June 3rd. Morgan Stanley set a $288.00 price objective on shares of Cencora in a report on Tuesday, April 15th. Robert W. Baird increased their price objective on shares of Cencora from $314.00 to $350.00 and gave the stock an “outperform” rating in a report on Thursday, May 8th. Finally, Wall Street Zen raised shares of Cencora from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Cencora currently has an average rating of “Moderate Buy” and an average price target of $306.91.

Cencora Company 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.