Allstate Corp Takes Position in Cencora, Inc. (NYSE:COR)

Allstate Corp bought a new position in shares of Cencora, Inc. (NYSE:COR) in the 4th quarter, HoldingsChannel.com reports. The firm bought 5,349 shares of the company’s stock, valued at approximately $1,202,000.

Several other institutional investors have also recently added to or reduced their stakes in COR. United Bank boosted its holdings in shares of Cencora by 4.2% in the 3rd quarter. United Bank now owns 5,601 shares of the company’s stock valued at $1,261,000 after buying an additional 225 shares in the last quarter. Public Sector Pension Investment Board boosted its stake in Cencora by 53.2% in the third quarter. Public Sector Pension Investment Board now owns 6,908 shares of the company’s stock valued at $1,555,000 after acquiring an additional 2,400 shares in the last quarter. Financial Counselors Inc. grew its holdings in shares of Cencora by 20.2% during the third quarter. Financial Counselors Inc. now owns 1,284 shares of the company’s stock worth $289,000 after purchasing an additional 216 shares during the last quarter. Rockefeller Capital Management L.P. increased its position in shares of Cencora by 5.3% during the third quarter. Rockefeller Capital Management L.P. now owns 116,120 shares of the company’s stock worth $26,137,000 after purchasing an additional 5,840 shares in the last quarter. Finally, Arete Wealth Advisors LLC lifted its holdings in shares of Cencora by 4.9% in the 3rd quarter. Arete Wealth Advisors LLC now owns 2,412 shares of the company’s stock valued at $541,000 after purchasing an additional 113 shares during the last quarter. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Cencora Trading Up 0.4 %

Shares of Cencora stock opened at $275.16 on Monday. The company has a quick ratio of 0.54, a current ratio of 0.92 and a debt-to-equity ratio of 16.40. The firm has a market cap of $53.36 billion, a price-to-earnings ratio of 39.14, a price-to-earnings-growth ratio of 1.31 and a beta of 0.51. Cencora, Inc. has a 52-week low of $214.77 and a 52-week high of $275.57. The company’s 50-day simple moving average is $253.81 and its 200-day simple moving average is $241.24.

Cencora (NYSE:COR) last issued its earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.50 by $0.23. Cencora had a return on equity of 328.62% and a net margin of 0.46%. As a group, equities research analysts anticipate that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.20 annualized dividend and a dividend yield of 0.80%. Cencora’s payout ratio is currently 31.29%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on COR shares. StockNews.com upgraded Cencora from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Evercore ISI lifted their target price on shares of Cencora from $270.00 to $280.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Wells Fargo & Company increased their price target on shares of Cencora from $251.00 to $274.00 and gave the stock an “equal weight” rating in a research note on Friday, March 14th. Mizuho assumed coverage on shares of Cencora in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 price objective on the stock. Finally, JPMorgan Chase & Co. increased their target price on shares of Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $280.20.

Insider Transactions at Cencora

In related news, Chairman Steven H. Collis sold 14,578 shares of Cencora stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $269.51, for a total transaction of $3,928,916.78. Following the completion of the transaction, the chairman now directly owns 317,913 shares of the company’s stock, valued at approximately $85,680,732.63. The trade was a 4.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Silvana Battaglia sold 5,000 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was 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 owns 15,374 shares in the company, valued at $3,724,197.76. This represents a 24.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,675 shares of company stock valued at $8,034,778 in the last ninety days. 10.80% of the stock is currently owned by company insiders.

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.