Cencora, Inc. $COR Stock Acquired by Russell Investments Group Ltd.

Russell Investments Group Ltd. lifted its position in Cencora, Inc. (NYSE:COR) by 34.0% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 253,078 shares of the company’s stock after buying an additional 64,236 shares during the quarter. Russell Investments Group Ltd.’s holdings in Cencora were worth $76,079,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of COR. Elevation Wealth Partners LLC boosted its holdings in Cencora by 506.2% during the 2nd quarter. Elevation Wealth Partners LLC now owns 97 shares of the company’s stock valued at $27,000 after acquiring an additional 81 shares during the period. Bell Investment Advisors Inc purchased a new stake in Cencora during the second quarter worth about $28,000. Caitlin John LLC purchased a new stake in Cencora during the second quarter worth about $28,000. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Cencora during the first quarter worth about $35,000. Finally, Lynch Investment Planning LLC acquired a new stake in shares of Cencora during the third quarter worth about $39,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Robert W. Baird lifted their price objective on shares of Cencora from $373.00 to $375.00 and gave the company an “outperform” rating in a report on Thursday, October 22nd. Wall Street Zen upgraded shares of Cencora from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Citigroup reissued a “buy” rating on shares of Cencora in a research report on Thursday, August 6th. Leerink Partners raised their price target on shares of Cencora from $388.00 to $405.00 and gave the company an “outperform” rating in a research report on Thursday, November 5th. Finally, Weiss Ratings upgraded shares of Cencora from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, October 6th. Twelve equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Cencora has an average rating of “Moderate Buy” and a consensus target price of $368.14.

Cencora Stock Up 2.8%

Shares of COR traded up $9.74 during midday trading on Friday, hitting $359.12. The company had a trading volume of 1,393,211 shares, compared to its average volume of 1,421,795. The company’s 50-day simple moving average is $327.12 and its 200-day simple moving average is $317.20. The company has a debt-to-equity ratio of 3.01, a quick ratio of 0.59 and a current ratio of 0.94. The firm has a market capitalization of $68.53 billion, a P/E ratio of 20.04, a P/E/G ratio of 1.81 and a beta of 0.58. Cencora, Inc. has a 1 year low of $244.82 and a 1 year high of $377.54.

Cencora (NYSE:COR) last released its earnings results on Wednesday, November 4th. The company reported $4.66 earnings per share for the quarter, topping analysts’ consensus estimates of $4.58 by $0.08. The firm had revenue of $88.35 billion for the quarter, compared to analyst estimates of $87.95 billion. Cencora had a net margin of 1.03% and a return on equity of 110.72%. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.84 earnings per share. As a group, sell-side analysts expect that Cencora, Inc. will post 19.58 EPS for the current year.

Cencora Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 30th. Shareholders of record on Friday, November 13th will be issued a dividend of $0.66 per share. This is a boost from Cencora’s previous quarterly dividend of $0.60. The ex-dividend date is Friday, November 13th. This represents a $2.64 annualized dividend and a yield of 0.7%. Cencora’s dividend payout ratio (DPR) is presently 13.39%.

Insider Activity at Cencora

In other news, EVP Elizabeth Campbell sold 11,300 shares of the firm’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $324.12, for a total value of $3,662,556.00. Following the sale, the executive vice president directly owned 19,455 shares in the company, valued at approximately $6,305,754.60. This trade represents a 36.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.38% of the company’s stock.

Cencora Profile

Cencora, formerly known as AmerisourceBergen, is a global pharmaceutical services company that connects pharmaceutical manufacturers with healthcare providers. Its core business includes sourcing and distributing medicines and other healthcare products to pharmacies, hospitals, health systems and other care providers. The company also provides services supporting specialty pharmaceuticals, including logistics, consulting and solutions for manufacturers and healthcare organizations. These services help manage the handling and delivery of complex medicines and support access to treatments.