Federated Hermes Inc. Purchases 61,819 Shares of Cencora, Inc. (NYSE:COR)

Federated Hermes Inc. boosted its position in shares of Cencora, Inc. (NYSE:COR) by 14.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 476,035 shares of the company’s stock after buying an additional 61,819 shares during the quarter. Federated Hermes Inc.’s holdings in Cencora were worth $106,956,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have 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 worth about $478,309,000. Raymond James Financial Inc. bought a new position in Cencora during the fourth quarter worth about $322,460,000. Wellington Management Group LLP grew its holdings in Cencora by 7.0% during the third quarter. Wellington Management Group LLP now owns 5,193,386 shares of the company’s stock worth $1,168,927,000 after purchasing an additional 338,452 shares during the period. Amundi increased its position in Cencora by 30.8% during the fourth 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 raised its stake in Cencora by 40.2% in the fourth quarter. Nordea Investment Management AB now owns 1,077,272 shares of the company’s stock valued at $243,173,000 after buying an additional 308,773 shares during the period. 97.52% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Elizabeth S. Campbell sold 4,127 shares of the stock in a transaction that occurred 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 sale, the executive vice president now owns 14,665 shares in the company, valued at approximately $3,934,326.20. This trade represents a 21.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Silvana Battaglia sold 5,000 shares of Cencora stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 15,374 shares in the company, valued at $3,724,197.76. This trade represents a 24.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,675 shares of company stock worth $8,034,778. Company insiders own 10.80% of the company’s stock.

Cencora Price Performance

NYSE:COR opened at $279.29 on Friday. Cencora, Inc. has a 52 week low of $214.77 and a 52 week high of $296.65. 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’s 50-day simple moving average is $257.28 and its 200 day simple moving average is $242.70. The firm has a market cap of $54.16 billion, a price-to-earnings ratio of 39.73, a P/E/G ratio of 1.31 and a beta of 0.55.

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

Cencora Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts recently weighed in on COR shares. JPMorgan Chase & Co. boosted their target price 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 upped 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. StockNews.com upgraded shares of Cencora from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Finally, Evercore ISI upped 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 research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $280.20.

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.