Fifth Third Bancorp Has $5.14 Million Stock Holdings in Cencora, Inc. (NYSE:COR)

Fifth Third Bancorp lessened its stake in shares of Cencora, Inc. (NYSE:COR) by 3.9% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 18,469 shares of the company’s stock after selling 755 shares during the quarter. Fifth Third Bancorp’s holdings in Cencora were worth $5,136,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. JFS Wealth Advisors LLC lifted its stake in shares of Cencora by 63.0% during the 4th quarter. JFS Wealth Advisors LLC now owns 119 shares of the company’s stock worth $27,000 after buying an additional 46 shares during the last quarter. Banque Transatlantique SA bought a new position in Cencora during the fourth quarter worth about $29,000. SBI Securities Co. Ltd. bought a new position in Cencora during the fourth quarter worth about $30,000. WASHINGTON TRUST Co increased its position in 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. Finally, Vermillion Wealth Management Inc. bought a new position in Cencora during the fourth quarter worth about $38,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

Cencora Price Performance

COR stock opened at $295.12 on Friday. The firm has a market cap of $57.20 billion, a P/E ratio of 41.98, a P/E/G ratio of 1.31 and a beta of 0.58. 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 company’s 50-day moving average price is $287.24 and its two-hundred day moving average price is $261.65. Cencora, Inc. has a 12 month low of $218.65 and a 12 month high of $309.35.

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

Cencora Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 16th were issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend was Friday, May 16th. Cencora’s dividend payout ratio (DPR) is presently 25.52%.

Insider Activity at Cencora

In related 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 transaction of $1,107,191.56. Following the sale, the executive vice president now directly owns 14,665 shares in the company, valued at $3,934,326.20. This trade represents a 21.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert P. Mauch sold 4,969 shares of Cencora stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $289.33, for a total transaction of $1,437,680.77. Following the sale, the chief executive officer now owns 47,582 shares in the company, valued at approximately $13,766,900.06. This represents a 9.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,253 shares of company stock valued at $10,582,297. 10.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on COR shares. Morgan Stanley set a $288.00 price target on shares of Cencora in a research report on Tuesday, April 15th. Robert W. Baird raised their price target on shares of Cencora from $314.00 to $350.00 and gave the stock an “outperform” rating in a research report on Thursday, May 8th. Bank of America raised their price target on shares of Cencora from $270.00 to $285.00 and gave the stock a “neutral” rating in a research report on Friday, April 11th. UBS Group raised their price target on shares of Cencora from $298.00 to $335.00 and gave the stock a “buy” rating in a research report on Tuesday, April 29th. Finally, Wall Street Zen raised shares of Cencora from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Cencora has an average 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.