Raiffeisen Bank International AG Acquires New Shares in Cencora, Inc. (NYSE:COR)

Raiffeisen Bank International AG acquired a new stake in Cencora, Inc. (NYSE:COR) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 8,000 shares of the company’s stock, valued at approximately $1,798,000.

Several other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in Cencora during the 4th quarter valued at $478,309,000. Bank of America Corp DE grew its holdings in Cencora by 62.3% during 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 buying an additional 1,994,256 shares during the last quarter. Castlekeep Investment Advisors LLC acquired a new stake in Cencora during the 4th quarter valued at $399,508,000. Raymond James Financial Inc. acquired a new stake in Cencora during the 4th quarter valued at $322,460,000. Finally, Invesco Ltd. grew its holdings in Cencora by 20.4% during the 4th quarter. Invesco Ltd. now owns 3,243,531 shares of the company’s stock valued at $728,757,000 after buying an additional 550,246 shares during the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Silvana Battaglia sold 5,000 shares of the company’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $242.24, for a total transaction of $1,211,200.00. Following the completion of the sale, the executive vice president now directly owns 15,374 shares of the company’s stock, valued at approximately $3,724,197.76. This represents a 24.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Elizabeth S. Campbell sold 4,127 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $268.28, for a total value of $1,107,191.56. Following the completion of the sale, the executive vice president now owns 14,665 shares of the company’s stock, valued at approximately $3,934,326.20. This represents a 21.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,223 shares of company stock worth $13,580,967 over the last three months. 10.80% of the stock is owned by insiders.

Cencora Stock Performance

Shares of COR stock opened at $290.24 on Friday. The company has a debt-to-equity ratio of 16.40, a quick ratio of 0.54 and a current ratio of 0.92. The firm has a market capitalization of $56.28 billion, a price-to-earnings ratio of 41.29, a price-to-earnings-growth ratio of 1.31 and a beta of 0.60. Cencora, Inc. has a one year low of $214.77 and a one year high of $309.35. The company has a 50 day moving average price of $279.10 and a 200 day moving average price of $254.99.

Cencora (NYSE:COR) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $4.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.07 by $0.35. The company had revenue of $75.50 billion during the quarter, compared to analysts’ expectations 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 in the previous year, the company earned $3.80 EPS. Sell-side analysts anticipate that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Friday, May 16th will be paid a dividend of $0.55 per share. The ex-dividend date is Friday, May 16th. This represents a $2.20 annualized dividend and a yield of 0.76%. Cencora’s dividend payout ratio is presently 25.52%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on COR shares. Evercore ISI increased their target price on Cencora from $270.00 to $280.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. StockNews.com upgraded Cencora from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Robert W. Baird increased their target price on Cencora from $314.00 to $350.00 and gave the company an “outperform” rating in a report on Thursday, May 8th. Bank of America increased their target price on Cencora from $270.00 to $285.00 and gave the company a “neutral” rating in a report on Friday, April 11th. Finally, Morgan Stanley set a $288.00 target price on Cencora in a report on Tuesday, April 15th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $301.18.

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.