Cencora, Inc. $COR Stock Acquired by Fifth Third Bancorp

Fifth Third Bancorp grew its position in shares of Cencora, Inc. (NYSE:COR) by 18.4% during the third quarter, according to its most recent filing with the SEC. The firm owned 77,837 shares of the company’s stock after acquiring an additional 12,112 shares during the period. Fifth Third Bancorp’s holdings in Cencora were worth $23,370,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of Cencora in the 2nd quarter worth about $5,154,136,000. Bank of America Corp DE lifted its position 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 valued at $1,300,033,000 after acquiring an additional 267,318 shares during the period. Amundi lifted its position in Cencora by 43.5% during the 2nd quarter. Amundi now owns 2,229,326 shares of the company’s stock valued at $630,855,000 after acquiring an additional 676,066 shares during the period. Carmignac Gestion lifted its position in Cencora by 58.7% during the 2nd quarter. Carmignac Gestion now owns 1,747,363 shares of the company’s stock valued at $494,463,000 after acquiring an additional 646,112 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Cencora during the second quarter worth about $483,772,000. Institutional investors own 97.52% of the company’s stock.

Cencora Stock Up 2.8%

NYSE:COR opened at $359.12 on Friday. The firm has a market cap of $68.53 billion, a P/E ratio of 19.44, a P/E/G ratio of 1.81 and a beta of 0.58. The company has a debt-to-equity ratio of 3.01, a quick ratio of 0.59 and a current ratio of 0.94. Cencora, Inc. has a fifty-two week low of $244.82 and a fifty-two week high of $377.54. The firm has a 50-day simple moving average of $327.12 and a two-hundred day simple moving average of $317.20.

Cencora (NYSE:COR) last issued its earnings results on Wednesday, November 4th. The company reported $4.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.58 by $0.08. The business had revenue of $88.35 billion during the quarter, compared to analysts’ expectations of $87.95 billion. Cencora had a net margin of 1.03% and a return on equity of 110.72%. During the same period in the previous year, the company earned $3.84 earnings per share. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. Analysts predict that Cencora, Inc. will post 19.58 earnings per share for the current fiscal year.

Cencora Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 30th. Investors of record on Friday, November 13th will be issued a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 0.7%. The ex-dividend date is Friday, November 13th. This is a positive change from Cencora’s previous quarterly dividend of $0.60. Cencora’s dividend payout ratio is 13.39%.

Insider Transactions at Cencora

In other news, EVP Elizabeth Campbell sold 11,300 shares of the firm’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 sale, the executive vice president owned 19,455 shares of the company’s stock, valued at $6,305,754.60. This trade represents a 36.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on COR. Wells Fargo & Company upped their price objective on shares of Cencora from $331.00 to $395.00 and gave the stock an “overweight” rating in a report on Tuesday, August 11th. Leerink Partners lifted their target price on shares of Cencora from $388.00 to $405.00 and gave the company an “outperform” rating in a report on Thursday, November 5th. Citigroup reissued a “buy” rating on shares of Cencora in a research report on Thursday, August 6th. Weiss Ratings upgraded Cencora from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, October 6th. Finally, Argus upped their price target on Cencora from $340.00 to $380.00 and gave the stock a “buy” rating in a research note on Tuesday, October 20th. Twelve research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Cencora has an average rating of “Moderate Buy” and a consensus target price of $368.14.

Cencora Company Profile

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.