Swedbank AB Raises Holdings in Cencora, Inc. (NYSE:COR)

Swedbank AB boosted its position in Cencora, Inc. (NYSE:COR) by 2.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,425,775 shares of the company’s stock after buying an additional 31,326 shares during the quarter. Swedbank AB owned approximately 0.74% of Cencora worth $320,343,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the stock. Public Sector Pension Investment Board raised its holdings in Cencora by 39.4% during the second quarter. Public Sector Pension Investment Board now owns 4,508 shares of the company’s stock valued at $1,016,000 after acquiring an additional 1,274 shares during the period. Marshall Wace LLP bought a new stake in shares of Cencora in the second quarter valued at about $1,539,000. Scientech Research LLC lifted its stake in shares of Cencora by 22.7% during the 2nd quarter. Scientech Research LLC now owns 1,244 shares of the company’s stock worth $280,000 after purchasing an additional 230 shares during the last quarter. Creative Planning lifted its position in Cencora by 3.5% during the second quarter. Creative Planning now owns 29,312 shares of the company’s stock valued at $6,604,000 after acquiring an additional 998 shares during the last quarter. Finally, Quarry LP raised its stake in Cencora by 39.3% in the 2nd quarter. Quarry LP now owns 337 shares of the company’s stock worth $76,000 after acquiring an additional 95 shares during the last quarter. 97.52% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Silvana Battaglia sold 1,678 shares of Cencora stock in a transaction on Friday, December 20th. The stock was sold at an average price of $228.72, for a total transaction of $383,792.16. Following the transaction, the executive vice president now directly owns 20,329 shares in the company, valued at approximately $4,649,648.88. This trade represents a 7.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Steven H. Collis sold 50,000 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $243.97, for a total transaction of $12,198,500.00. Following the transaction, the chairman now owns 326,557 shares in the company, valued at approximately $79,670,111.29. This represents a 13.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 73,187 shares of company stock valued at $17,790,912. 15.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently commented on COR shares. Wells Fargo & Company boosted their target price on Cencora from $237.00 to $251.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Evercore ISI raised their target price on Cencora from $250.00 to $285.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Barclays increased their price objective on shares of Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. UBS Group increased their price objective on Cencora from $275.00 to $285.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Mizuho started coverage on shares of Cencora in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 price objective for the company. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $278.40.

Cencora Stock Performance

COR traded up $1.05 on Wednesday, reaching $256.15. The stock had a trading volume of 57,203 shares, compared to its average volume of 1,201,815. The company has a market cap of $49.51 billion, a P/E ratio of 34.11, a price-to-earnings-growth ratio of 1.54 and a beta of 0.49. The business’s 50-day moving average price is $238.03 and its two-hundred day moving average price is $235.30. The company has a current ratio of 0.88, a quick ratio of 0.53 and a debt-to-equity ratio of 4.84. Cencora, Inc. has a 12-month low of $214.77 and a 12-month high of $257.09.

Cencora Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a dividend of $0.55 per share. The ex-dividend date was Friday, November 15th. This is an increase from Cencora’s previous quarterly dividend of $0.51. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.86%. Cencora’s payout ratio is currently 29.29%.

About Cencora

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.