Geode Capital Management LLC Increases Holdings in Cencora, Inc. (NYSE:COR)

Geode Capital Management LLC boosted its stake in shares of Cencora, Inc. (NYSE:COR) by 3.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,326,064 shares of the company’s stock after buying an additional 130,213 shares during the period. Geode Capital Management LLC’s holdings in Cencora were worth $969,471,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Cencora during the 4th quarter valued at about $478,309,000. Raymond James Financial Inc. acquired a new position in Cencora in the 4th quarter valued at about $322,460,000. Wellington Management Group LLP grew its stake in shares of Cencora by 7.0% in the 3rd quarter. Wellington Management Group LLP now owns 5,193,386 shares of the company’s stock valued at $1,168,927,000 after buying an additional 338,452 shares during the period. Amundi increased its holdings in shares of Cencora by 30.8% during the 4th quarter. Amundi now owns 1,338,710 shares of the company’s stock worth $318,385,000 after buying an additional 314,846 shares during the last quarter. Finally, Nordea Investment Management AB increased its holdings in shares of Cencora by 40.2% during the 4th quarter. Nordea Investment Management AB now owns 1,077,272 shares of the company’s stock worth $243,173,000 after buying an additional 308,773 shares during the last quarter. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Cencora Price Performance

Shares of COR opened at $279.60 on Thursday. The company has a market cap of $54.22 billion, a P/E ratio of 39.77, a PEG ratio of 1.31 and a beta of 0.51. Cencora, Inc. has a fifty-two week low of $214.77 and a fifty-two week high of $280.70. 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’s 50 day moving average price is $255.83 and its 200 day moving average price is $242.06.

Cencora (NYSE:COR) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $3.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.50 by $0.23. Cencora had a return on equity of 328.62% and a net margin of 0.46%. On average, research analysts forecast that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date was Friday, February 14th. Cencora’s dividend payout ratio is presently 31.29%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related news, EVP Elizabeth S. Campbell sold 4,127 shares of the business’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $268.28, for a total transaction of $1,107,191.56. Following the completion of the transaction, the executive vice president now owns 14,665 shares in the company, valued at approximately $3,934,326.20. The trade was a 21.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Steven H. Collis sold 14,578 shares of the firm’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $269.51, for a total value of $3,928,916.78. Following the completion of the sale, the chairman now owns 317,913 shares in the company, valued at approximately $85,680,732.63. This represents a 4.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 30,675 shares of company stock worth $8,034,778. Company insiders own 10.80% of the company’s stock.

Cencora Company 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.