Park Avenue Securities LLC Boosts Holdings in Cencora, Inc. (NYSE:COR)

Park Avenue Securities LLC lifted its holdings in Cencora, Inc. (NYSE:COR) by 8.5% in the first quarter, HoldingsChannel reports. The firm owned 12,679 shares of the company’s stock after buying an additional 989 shares during the quarter. Park Avenue Securities LLC’s holdings in Cencora were worth $3,526,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in COR. JFS Wealth Advisors LLC grew 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 acquiring an additional 46 shares in the last quarter. Banque Transatlantique SA acquired a new stake in shares of Cencora in the fourth quarter valued at $29,000. SBI Securities Co. Ltd. purchased a new position in Cencora in the fourth quarter valued at $30,000. Kentucky Trust Co acquired a new position in Cencora during the 4th quarter worth $33,000. Finally, WASHINGTON TRUST Co grew its stake in Cencora by 37.7% during the 4th quarter. WASHINGTON TRUST Co now owns 168 shares of the company’s stock worth $38,000 after purchasing an additional 46 shares in the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Cencora Price Performance

Shares of NYSE:COR opened at $283.94 on Tuesday. Cencora, Inc. has a 12 month low of $218.65 and a 12 month high of $309.35. The firm has a market capitalization of $55.03 billion, a P/E ratio of 40.39, a P/E/G ratio of 1.31 and a beta of 0.58. 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 company’s fifty day moving average price is $286.38 and its 200 day moving average price is $260.64.

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

Cencora Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 16th were issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 0.77%. The ex-dividend date was Friday, May 16th. Cencora’s payout ratio is currently 25.52%.

Insider Activity

In related news, Chairman Steven H. Collis sold 14,579 shares of the company’s stock in a transaction on Tuesday, April 22nd. The shares were sold at an average price of $281.81, for a total value of $4,108,507.99. Following the completion of the sale, the chairman now owns 315,913 shares in the company, valued at $89,027,442.53. This represents a 4.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Elizabeth S. Campbell sold 4,127 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $268.28, for a total transaction of $1,107,191.56. Following the sale, the executive vice president now owns 14,665 shares of the company’s stock, valued at approximately $3,934,326.20. This represents a 21.96% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,253 shares of company stock valued at $10,582,297. 10.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

COR has been the subject of several recent research reports. Morgan Stanley set a $288.00 price objective on Cencora in a research note on Tuesday, April 15th. Robert W. Baird lifted their price target on shares of Cencora from $314.00 to $350.00 and gave the stock an “outperform” rating in a research note on Thursday, May 8th. Wall Street Zen raised shares of Cencora from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Citigroup raised their price objective on shares of Cencora from $330.00 to $355.00 and gave the company a “buy” rating in a report on Thursday, May 8th. Finally, Wells Fargo & Company raised shares of Cencora from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $274.00 to $337.00 in a research report on Tuesday, June 3rd. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $306.91.

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.