Cencora, Inc. $COR Stock: Danske Bank A S Lowers Holdings

Danske Bank A S trimmed its holdings in shares of Cencora, Inc. (NYSE:COR) by 5.8% during the third quarter, Holdings Channel reports. The fund owned 255,317 shares of the company’s stock after selling 15,764 shares during the quarter. Danske Bank A S’s holdings in Cencora were worth $76,659,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. BlackRock Inc. purchased a new position in Cencora in the second quarter valued at about $5,154,136,000. Bank of America Corp DE increased its holdings in Cencora by 6.9% during the 1st quarter. Bank of America Corp DE now owns 4,138,388 shares of the company’s stock worth $1,300,033,000 after purchasing an additional 267,318 shares during the last quarter. Amundi raised its position in shares of Cencora by 43.5% in the 2nd quarter. Amundi now owns 2,229,326 shares of the company’s stock valued at $630,855,000 after purchasing an additional 676,066 shares in the last quarter. Carmignac Gestion raised its position in shares of Cencora by 58.7% in the 2nd quarter. Carmignac Gestion now owns 1,747,363 shares of the company’s stock valued at $494,463,000 after purchasing an additional 646,112 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Cencora during the 2nd quarter valued at approximately $483,772,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

Cencora Stock Performance

Shares of COR stock traded up $9.74 on Friday, hitting $359.12. 1,393,211 shares of the stock traded hands, compared to its average volume of 1,421,795. The company’s fifty day moving average is $327.12 and its 200 day moving average is $317.20. Cencora, Inc. has a 1-year low of $244.82 and a 1-year high of $377.54. The company has a market capitalization of $68.53 billion, a PE ratio of 20.04, a PEG ratio of 1.81 and a beta of 0.58. The company has a debt-to-equity ratio of 3.01, a current ratio of 0.94 and a quick ratio of 0.59.

Cencora (NYSE:COR) last released its quarterly earnings data on Wednesday, November 4th. The company reported $4.66 EPS for the quarter, topping analysts’ consensus estimates of $4.58 by $0.08. Cencora had a net margin of 1.03% and a return on equity of 110.72%. The firm had revenue of $88.35 billion during the quarter, compared to the consensus estimate of $87.95 billion. During the same quarter in the previous year, the company posted $3.84 earnings per share. The firm’s revenue was up 5.5% on a year-over-year basis. On average, equities research analysts predict that Cencora, Inc. will post 19.58 earnings per share for the current fiscal year.

Cencora Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 30th. Stockholders of record on Friday, November 13th will be issued a $0.66 dividend. This is a boost from Cencora’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Friday, November 13th. This represents a $2.64 annualized dividend and a dividend yield of 0.7%. Cencora’s dividend payout ratio (DPR) is presently 13.39%.

Insider Activity at Cencora

In related news, EVP Elizabeth Campbell sold 11,300 shares of the business’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $324.12, for a total transaction of $3,662,556.00. Following the completion of the sale, the executive vice president owned 19,455 shares of the company’s stock, valued at $6,305,754.60. This represents a 36.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on COR shares. Morgan Stanley raised their price target on shares of Cencora from $346.00 to $377.00 and gave the stock an “overweight” rating in a research report on Friday, October 30th. Wells Fargo & Company lifted their price target on shares of Cencora from $331.00 to $395.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 11th. Argus increased their price objective on shares of Cencora from $340.00 to $380.00 and gave the company a “buy” rating in a research note on Tuesday, October 20th. Wall Street Zen raised shares of Cencora from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Finally, Robert W. Baird raised their price objective on shares of Cencora from $373.00 to $375.00 and gave the stock an “outperform” rating in a report on Thursday, October 22nd. Twelve research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $368.14.

About Cencora

Cencora, formerly known as AmerisourceBergen, is a global pharmaceutical services company that connects pharmaceutical manufacturers with healthcare providers. Its core business includes sourcing and distributing medicines and other healthcare products to pharmacies, hospitals, health systems and other care providers. The company also provides services supporting specialty pharmaceuticals, including logistics, consulting and solutions for manufacturers and healthcare organizations. These services help manage the handling and delivery of complex medicines and support access to treatments.