Horizon Bancorp Inc. IN Sells 109 Shares of Cencora, Inc. (NYSE:COR)

Horizon Bancorp Inc. IN trimmed its stake in Cencora, Inc. (NYSE:COR) by 12.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 747 shares of the company’s stock after selling 109 shares during the period. Horizon Bancorp Inc. IN’s holdings in Cencora were worth $208,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Price T Rowe Associates Inc. MD lifted its stake in shares of Cencora by 0.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,859,452 shares of the company’s stock valued at $1,990,542,000 after purchasing an additional 78,066 shares during the last quarter. Bank of America Corp DE lifted its stake 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 during the last quarter. Boston Partners lifted its stake in shares of Cencora by 2.6% in the 4th quarter. Boston Partners now owns 5,007,100 shares of the company’s stock valued at $1,128,058,000 after purchasing an additional 125,611 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Cencora by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 4,326,064 shares of the company’s stock valued at $969,471,000 after purchasing an additional 130,213 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Cencora by 20.4% in the 4th quarter. Invesco Ltd. now owns 3,243,531 shares of the company’s stock valued at $728,757,000 after purchasing an additional 550,246 shares during the last quarter. 97.52% of the stock is owned by institutional investors.

Insider Activity

In other news, Chairman Steven H. Collis sold 14,579 shares of Cencora stock in a transaction on Tuesday, April 22nd. The stock was sold at an average price of $281.81, for a total value of $4,108,507.99. Following the transaction, the chairman now directly owns 315,913 shares in the company, valued at approximately $89,027,442.53. This trade represents a 4.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Robert P. Mauch sold 4,969 shares of Cencora 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 in the company, valued at $13,766,900.06. This represents a 9.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 10.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Wall Street Zen upgraded Cencora from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Wells Fargo & Company upgraded Cencora from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $274.00 to $337.00 in a report on Tuesday, June 3rd. Morgan Stanley set a $288.00 price target on Cencora in a report on Tuesday, April 15th. Bank of America increased their price target on Cencora from $270.00 to $285.00 and gave the stock a “neutral” rating in a report on Friday, April 11th. Finally, UBS Group increased their price target on Cencora from $298.00 to $335.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $306.91.

Cencora Trading Up 0.4%

COR opened at $294.16 on Wednesday. The stock’s fifty day moving average is $289.36 and its two-hundred day moving average is $263.98. The company has a market capitalization of $57.02 billion, a P/E ratio of 34.13, a PEG ratio of 1.45 and a beta of 0.58. Cencora, Inc. has a 52 week low of $218.65 and a 52 week high of $309.35. The company has a quick ratio of 0.52, a current ratio of 0.87 and a debt-to-equity ratio of 6.01.

Cencora (NYSE:COR) last released its quarterly earnings data on Wednesday, May 7th. The company reported $4.42 EPS for the quarter, topping the consensus estimate of $4.07 by $0.35. The company had revenue of $75.50 billion for the quarter, compared to the consensus estimate of $75.41 billion. Cencora had a return on equity of 344.71% and a net margin of 0.55%. Cencora’s quarterly revenue was up 10.3% on a year-over-year basis. During the same period last year, the business posted $3.80 EPS. Analysts forecast that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 16th were issued a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.20 annualized dividend and a yield of 0.75%. Cencora’s payout ratio is currently 25.52%.

Cencora 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.