Cencora, Inc. $COR Shares Purchased by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS increased its position in shares of Cencora, Inc. (NYSE:COR) by 35.1% in the second quarter, HoldingsChannel reports. The firm owned 116,281 shares of the company’s stock after acquiring an additional 30,200 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Cencora were worth $34,867,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of COR. Iowa State Bank lifted its holdings in Cencora by 1.4% in the second quarter. Iowa State Bank now owns 6,758 shares of the company’s stock valued at $2,026,000 after acquiring an additional 94 shares during the period. Valeo Financial Advisors LLC boosted its position in Cencora by 6.1% in the 2nd quarter. Valeo Financial Advisors LLC now owns 2,270 shares of the company’s stock worth $681,000 after purchasing an additional 130 shares in the last quarter. Knights of Columbus Asset Advisors LLC boosted its position in Cencora by 6.2% in the 2nd quarter. Knights of Columbus Asset Advisors LLC now owns 44,209 shares of the company’s stock worth $13,256,000 after purchasing an additional 2,586 shares in the last quarter. Marks Group Wealth Management Inc purchased a new stake in Cencora in the 2nd quarter worth approximately $201,000. Finally, Grimes & Company Inc. boosted its position in Cencora by 3.6% in the 2nd quarter. Grimes & Company Inc. now owns 1,272 shares of the company’s stock worth $381,000 after purchasing an additional 44 shares in the last quarter. Institutional investors and hedge funds own 97.52% of the company’s stock.

Insider Buying and Selling at Cencora

In related news, CEO Robert P. Mauch sold 5,097 shares of the stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $290.00, for a total value of $1,478,130.00. Following the completion of the transaction, the chief executive officer directly owned 39,274 shares of the company’s stock, valued at approximately $11,389,460. This represents a 11.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Steven H. Collis sold 31,350 shares of the stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $289.86, for a total value of $9,087,111.00. Following the completion of the transaction, the chairman directly owned 305,913 shares of the company’s stock, valued at approximately $88,671,942.18. This represents a 9.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 55,993 shares of company stock valued at $16,292,923. 10.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

COR has been the topic of several recent research reports. Jefferies Financial Group upped their price objective on Cencora from $275.00 to $300.00 and gave the stock a “hold” rating in a research report on Monday, June 30th. Weiss Ratings restated a “buy (b)” rating on shares of Cencora in a research report on Saturday, September 27th. Wells Fargo & Company upped their price objective on Cencora from $337.00 to $354.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 13th. Finally, Morgan Stanley set a $330.00 price objective on Cencora and gave the stock an “equal weight” rating in a research report on Wednesday, July 16th. Nine research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Cencora presently has a consensus rating of “Moderate Buy” and an average price target of $314.55.

Cencora Trading Up 1.1%

Shares of NYSE:COR opened at $308.63 on Wednesday. Cencora, Inc. has a 1 year low of $219.69 and a 1 year high of $315.23. The firm has a market capitalization of $59.84 billion, a price-to-earnings ratio of 31.75, a price-to-earnings-growth ratio of 1.43 and a beta of 0.63. The company has a debt-to-equity ratio of 3.64, a current ratio of 0.90 and a quick ratio of 0.53. The business’s 50 day moving average price is $295.45 and its 200-day moving average price is $290.80.

Cencora (NYSE:COR) last announced its earnings results on Wednesday, August 6th. The company reported $4.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.79 by $0.21. Cencora had a return on equity of 267.36% and a net margin of 0.60%.The firm had revenue of $80.66 billion for the quarter, compared to analyst estimates of $80.34 billion. During the same quarter last year, the firm posted $3.34 EPS. The business’s revenue was up 8.7% on a year-over-year basis. On average, equities research analysts forecast that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Friday, August 15th were paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Friday, August 15th. Cencora’s dividend payout ratio is currently 22.63%.

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.