Cencora, Inc. $COR Stock: Fort Washington Investment Advisors Inc. OH Boosts Holdings

Fort Washington Investment Advisors Inc. OH lifted its stake in shares of Cencora, Inc. (NYSE:COR) by 81.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 447,763 shares of the company’s stock after acquiring an additional 201,057 shares during the quarter. Fort Washington Investment Advisors Inc. OH’s holdings in Cencora were worth $139,917,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. BlackRock Inc. purchased a new position in Cencora in the second quarter valued at $5,154,136,000. T. Rowe Price Investment Management Inc. grew its stake in Cencora by 160.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,700,091 shares of the company’s stock worth $2,262,956,000 after purchasing an additional 4,123,795 shares in the last quarter. Bank of America Corp DE acquired a new position in Cencora during the 2nd quarter worth $1,056,625,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Cencora during the 2nd quarter worth about $483,772,000. Finally, Legal & General Group Plc purchased a new stake in Cencora during the 2nd quarter worth about $339,556,000. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Cencora Trading Up 1.7%

COR opened at $335.85 on Thursday. The firm has a market cap of $64.09 billion, a price-to-earnings ratio of 24.95, a price-to-earnings-growth ratio of 1.69 and a beta of 0.58. Cencora, Inc. has a 52 week low of $244.82 and a 52 week high of $377.54. The business’s 50 day moving average is $319.66 and its two-hundred day moving average is $302.88. The company has a quick ratio of 0.58, a current ratio of 0.93 and a debt-to-equity ratio of 3.53.

Cencora (NYSE:COR) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $4.48 earnings per share for the quarter, beating the consensus estimate of $4.35 by $0.13. The business had revenue of $84.75 billion during the quarter, compared to the consensus estimate of $84.31 billion. Cencora had a return on equity of 125.45% and a net margin of 0.79%. The company’s revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the company earned $4.00 earnings per share. On average, research analysts predict that Cencora, Inc. will post 17.87 EPS for the current year.

Cencora Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Friday, August 14th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, August 14th. Cencora’s payout ratio is presently 17.83%.

Analyst Ratings Changes

A number of research firms have issued reports on COR. Leerink Partners increased their price target on Cencora from $380.00 to $388.00 and gave the company an “outperform” rating in a research report on Wednesday, October 7th. Citigroup reissued a “buy” rating on shares of Cencora in a research report on Thursday, August 6th. JPMorgan Chase & Co. boosted their price objective on Cencora from $382.00 to $390.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Wells Fargo & Company upped their target price 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. Finally, Morgan Stanley raised their target price on shares of Cencora from $342.00 to $346.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Fourteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $365.69.

Insider Buying and Selling

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

Cencora Company Profile

Cencora, formerly known as AmerisourceBergen, is a global pharmaceutical solutions company that sources, distributes and supports the delivery of medicines and healthcare products. The company serves pharmaceutical manufacturers, healthcare providers, pharmacies and animal-health customers through its supply-chain and commercialization services.

Its activities include pharmaceutical and specialty-product distribution, manufacturer services, specialty logistics, clinical-trial support, patient-support programs and other services designed to help bring medicines to market and improve access to treatment.