Fifth Third Bancorp Has $5.14 Million Stake in Cencora, Inc. (NYSE:COR)

Fifth Third Bancorp lowered its position in Cencora, Inc. (NYSE:COR) by 3.9% during the first quarter, Holdings Channel reports. The firm owned 18,469 shares of the company’s stock after selling 755 shares during the period. Fifth Third Bancorp’s holdings in Cencora were worth $5,136,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of COR. Norges Bank acquired a new position in shares of Cencora in the 4th quarter worth approximately $478,309,000. Bank of America Corp DE lifted 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 worth $1,166,944,000 after purchasing an additional 1,994,256 shares during the period. Castlekeep Investment Advisors LLC acquired a new position in shares of Cencora in the 4th quarter worth approximately $399,508,000. GAMMA Investing LLC lifted its position in shares of Cencora by 43,561.9% in the 1st quarter. GAMMA Investing LLC now owns 1,598,461 shares of the company’s stock worth $444,516,000 after purchasing an additional 1,594,800 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of Cencora in the 4th quarter worth approximately $322,460,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Steven H. Collis sold 14,579 shares of the company’s stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $281.81, for a total value of $4,108,507.99. Following the sale, the chairman now owns 315,913 shares in the company, valued at $89,027,442.53. This represents a 4.41% decrease in their position. The transaction 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 dated Monday, April 21st. The stock was sold at an average price of $289.33, for a total transaction of $1,437,680.77. Following the completion of the sale, the chief executive officer now owns 47,582 shares in the company, valued at $13,766,900.06. This represents a 9.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,253 shares of company stock worth $10,582,297 in the last quarter. Insiders own 10.80% of the company’s stock.

Cencora Stock Performance

NYSE COR opened at $295.12 on Friday. The company has a market cap of $57.20 billion, a P/E ratio of 41.98, a PEG ratio of 1.31 and a beta of 0.58. The company has a fifty day simple moving average of $287.24 and a 200 day simple moving average of $261.65. The company has a current ratio of 0.92, a quick ratio of 0.54 and a debt-to-equity ratio of 16.40. Cencora, Inc. has a 12-month low of $218.65 and a 12-month high of $309.35.

Cencora (NYSE:COR) last released its quarterly earnings data on Wednesday, May 7th. The company reported $4.42 earnings per share for the quarter, beating analysts’ consensus estimates of $4.07 by $0.35. The firm had revenue of $75.50 billion for the quarter, compared to analyst estimates of $75.41 billion. Cencora had a net margin of 0.46% and a return on equity of 328.62%. The business’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period last year, the firm earned $3.80 earnings per share. Sell-side analysts predict that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 16th were issued a $0.55 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.75%. Cencora’s dividend payout ratio is presently 25.52%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on COR. UBS Group boosted their price target on shares of Cencora from $298.00 to $335.00 and gave the stock a “buy” rating in a research report on Tuesday, April 29th. Robert W. Baird boosted their price target on shares of Cencora from $314.00 to $350.00 and gave the stock an “outperform” rating in a research report on Thursday, May 8th. Wall Street Zen raised shares of Cencora from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Wells Fargo & Company upgraded shares of Cencora from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $274.00 to $337.00 in a report on Tuesday, June 3rd. Finally, Citigroup upped their price objective on shares of Cencora from $330.00 to $355.00 and gave the company a “buy” rating in a report on Thursday, May 8th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $306.91.

Cencora Company Profile

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.