Donaldson Capital Management LLC Increases Stock Holdings in Cencora, Inc. (NYSE:COR)

Donaldson Capital Management LLC lifted its position in shares of Cencora, Inc. (NYSE:COR) by 2.9% during the first quarter, HoldingsChannel reports. The firm owned 10,688 shares of the company’s stock after purchasing an additional 297 shares during the quarter. Donaldson Capital Management LLC’s holdings in Cencora were worth $2,972,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Cencora in the fourth quarter valued at about $478,309,000. Bank of America Corp DE raised its position in shares of Cencora by 62.3% in the 4th quarter. Bank of America Corp DE now owns 5,193,807 shares of the company’s stock valued at $1,166,944,000 after purchasing an additional 1,994,256 shares in the last quarter. Castlekeep Investment Advisors LLC purchased a new position in shares of Cencora during the 4th quarter valued at approximately $399,508,000. GAMMA Investing LLC grew its position in shares of Cencora by 43,561.9% during the first quarter. GAMMA Investing LLC now owns 1,598,461 shares of the company’s stock worth $444,516,000 after buying an additional 1,594,800 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Cencora during the fourth quarter worth approximately $322,460,000. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on COR shares. Morgan Stanley set a $288.00 price objective on shares of Cencora in a research note on Tuesday, April 15th. Bank of America increased 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. Wells Fargo & Company upgraded Cencora from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $274.00 to $337.00 in a research note on Tuesday, June 3rd. UBS Group boosted their price objective on Cencora from $298.00 to $335.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. Finally, Citigroup upped their price objective on Cencora from $330.00 to $355.00 and gave the company a “buy” rating in a research note on Thursday, May 8th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $306.91.

Cencora Stock Performance

Shares of COR stock opened at $284.32 on Wednesday. Cencora, Inc. has a fifty-two week low of $218.65 and a fifty-two week high of $309.35. The stock’s 50-day moving average is $286.28 and its two-hundred day moving average is $260.81. The company has a debt-to-equity ratio of 16.40, a current ratio of 0.92 and a quick ratio of 0.54. The firm has a market cap of $55.11 billion, a P/E ratio of 40.44, a PEG ratio of 1.31 and a beta of 0.58.

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

Cencora Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 16th were paid a dividend of $0.55 per share. The ex-dividend date was Friday, May 16th. This represents a $2.20 annualized dividend and a yield of 0.77%. Cencora’s payout ratio is 25.52%.

Insider Transactions at Cencora

In related news, EVP Elizabeth S. Campbell sold 4,127 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $268.28, for a total transaction of $1,107,191.56. Following the transaction, the executive vice president now directly owns 14,665 shares in the company, valued at $3,934,326.20. The trade was a 21.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Robert P. Mauch sold 4,969 shares of the company’s stock in a transaction on Monday, April 21st. The shares were sold at an average price of $289.33, for a total value of $1,437,680.77. Following the completion of the transaction, the chief executive officer now owns 47,582 shares of the company’s stock, valued at $13,766,900.06. The trade was a 9.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,253 shares of company stock worth $10,582,297. Insiders own 10.80% of the company’s stock.

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.