Cencora, Inc. (NYSE:COR) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Cencora, Inc. (NYSE:COR) by 3.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 93,858 shares of the company’s stock after buying an additional 2,937 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Cencora were worth $26,101,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in COR. Bank of America Corp DE raised its stake in shares of Cencora by 62.3% during 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 buying an additional 1,994,256 shares during the last quarter. Castlekeep Investment Advisors LLC acquired a new position in shares of Cencora during the 4th quarter worth $399,508,000. GAMMA Investing LLC raised its stake in shares of Cencora by 43,561.9% during the 1st 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 during the last quarter. Invesco Ltd. raised its stake in shares of Cencora by 20.4% during the 4th quarter. Invesco Ltd. now owns 3,243,531 shares of the company’s stock worth $728,757,000 after buying an additional 550,246 shares during the last quarter. Finally, Close Asset Management Ltd acquired a new position in shares of Cencora during the 1st quarter worth $110,629,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

Cencora Stock Down 1.5%

COR opened at $285.98 on Tuesday. The company has a debt-to-equity ratio of 6.01, a current ratio of 0.87 and a quick ratio of 0.52. The stock has a market capitalization of $55.43 billion, a price-to-earnings ratio of 33.18, a price-to-earnings-growth ratio of 1.44 and a beta of 0.57. The business has a 50-day moving average of $293.19 and a two-hundred day moving average of $275.13. Cencora, Inc. has a 12 month low of $218.65 and a 12 month high of $309.35.

Cencora (NYSE:COR) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $4.42 EPS for the quarter, beating the consensus estimate of $4.07 by $0.35. Cencora had a return on equity of 344.71% and a net margin of 0.55%. The company had revenue of $75.50 billion during the quarter, compared to analysts’ expectations of $75.41 billion. During the same quarter in the previous year, the business earned $3.80 EPS. The firm’s revenue was up 10.3% on a year-over-year basis. On average, research analysts expect that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Dividend Announcement

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

Insider Transactions at Cencora

In other news, CEO Robert P. Mauch sold 4,968 shares of the business’s stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $294.11, for a total transaction of $1,461,138.48. Following the completion of the sale, the chief executive officer owned 42,351 shares in the company, valued at approximately $12,455,852.61. The trade was a 10.50% 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 14,578 shares of the business’s stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $292.67, for a total value of $4,266,543.26. Following the sale, the chairman owned 309,913 shares of the company’s stock, valued at $90,702,237.71. The trade was a 4.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,125 shares of company stock valued at $9,993,789 in the last quarter. Company insiders own 10.80% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on COR shares. Jefferies Financial Group boosted their target price on shares of Cencora from $275.00 to $300.00 and gave the company a “hold” rating in a research note on Monday, June 30th. Morgan Stanley set a $330.00 target price on shares of Cencora and gave the company an “equal weight” rating in a research note on Wednesday, July 16th. UBS Group boosted their target price on shares of Cencora from $298.00 to $335.00 and gave the company a “buy” rating in a research note on Tuesday, April 29th. Citigroup boosted their target price on shares of Cencora from $330.00 to $355.00 and gave the company a “buy” rating in a research note on Thursday, May 8th. Finally, Robert W. Baird boosted their target price on shares of Cencora from $314.00 to $350.00 and gave the company an “outperform” rating in a research note on Thursday, May 8th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Cencora currently has a consensus rating of “Moderate Buy” and an average target price of $309.83.

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.