Russell Investments Group Ltd. Buys 24,095 Shares of Cencora, Inc. $COR

Russell Investments Group Ltd. boosted its stake in Cencora, Inc. (NYSE:COR) by 11.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 228,577 shares of the company’s stock after purchasing an additional 24,095 shares during the quarter. Russell Investments Group Ltd. owned about 0.12% of Cencora worth $71,374,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Cornerstone Wealth Group LLC increased its holdings in Cencora by 1.3% in the 3rd quarter. Cornerstone Wealth Group LLC now owns 2,383 shares of the company’s stock valued at $745,000 after buying an additional 30 shares during the period. Security Financial Services INC. raised its position in shares of Cencora by 2.6% in the 3rd quarter. Security Financial Services INC. now owns 1,325 shares of the company’s stock valued at $414,000 after buying an additional 33 shares in the last quarter. Hemington Wealth Management lifted its holdings in shares of Cencora by 12.0% during the 3rd quarter. Hemington Wealth Management now owns 327 shares of the company’s stock worth $102,000 after acquiring an additional 35 shares during the period. Quadcap Wealth Management LLC lifted its holdings in shares of Cencora by 1.5% during the 2nd quarter. Quadcap Wealth Management LLC now owns 2,409 shares of the company’s stock worth $722,000 after acquiring an additional 36 shares during the period. Finally, Howard Capital Management Inc. boosted its position in shares of Cencora by 2.5% during the 3rd quarter. Howard Capital Management Inc. now owns 1,499 shares of the company’s stock worth $468,000 after acquiring an additional 37 shares in the last quarter. Institutional investors own 97.52% of the company’s stock.

Insider Activity at Cencora

In other Cencora news, CEO Robert P. Mauch sold 5,096 shares of the company’s stock in a transaction dated Tuesday, January 20th. The stock was sold at an average price of $354.73, for a total value of $1,807,704.08. Following the completion of the transaction, the chief executive officer owned 66,726 shares of the company’s stock, valued at $23,669,713.98. This represents a 7.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Elizabeth S. Campbell sold 3,351 shares of the stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $342.10, for a total value of $1,146,377.10. Following the completion of the transaction, the executive vice president owned 23,891 shares of the company’s stock, valued at $8,173,111.10. This represents a 12.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 15,220 shares of company stock valued at $5,282,867 in the last 90 days. 0.38% of the stock is owned by corporate insiders.

Cencora Trading Down 2.7%

Shares of Cencora stock opened at $351.97 on Wednesday. The firm’s 50 day moving average is $354.84 and its 200 day moving average is $337.51. The firm has a market capitalization of $68.47 billion, a PE ratio of 42.30, a price-to-earnings-growth ratio of 1.69 and a beta of 0.68. Cencora, Inc. has a 1 year low of $251.94 and a 1 year high of $377.54. The company has a current ratio of 0.92, a quick ratio of 0.51 and a debt-to-equity ratio of 3.62.

Cencora (NYSE:COR) last issued its quarterly earnings data on Wednesday, February 4th. The company reported $4.08 EPS for the quarter, beating the consensus estimate of $4.04 by $0.04. Cencora had a net margin of 0.50% and a return on equity of 176.54%. The business had revenue of $85.93 billion during the quarter, compared to the consensus estimate of $86.12 billion. During the same quarter in the prior year, the firm earned $3.73 EPS. The firm’s revenue was up 5.5% compared to the same quarter last year. Equities research analysts forecast that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Friday, February 13th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Friday, February 13th. Cencora’s dividend payout ratio is presently 28.85%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on COR. Barclays lifted their price objective on shares of Cencora from $400.00 to $425.00 and gave the company an “overweight” rating in a research note on Friday, February 13th. Jefferies Financial Group raised Cencora from an “underperform” rating to a “buy” rating in a report on Thursday, January 22nd. Robert W. Baird set a $415.00 price target on Cencora in a research note on Tuesday, January 13th. Weiss Ratings raised Cencora from a “hold (c+)” rating to a “buy (b)” rating in a report on Thursday, February 5th. Finally, Wells Fargo & Company upped their price objective on Cencora from $405.00 to $429.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 10th. Eleven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Cencora has a consensus rating of “Moderate Buy” and an average price target of $399.00.

About Cencora

Cencora (NYSE:COR) is a global healthcare services and pharmaceutical distribution company that provides end-to-end solutions across the pharmaceutical supply chain. The company’s core activities include wholesale drug distribution, specialty drug distribution, and the operation of specialty pharmacies, complemented by logistics, cold-chain management and other fulfillment services designed to support complex and temperature-sensitive therapies.

Beyond physical distribution, Cencora offers a range of commercial and patient-focused services for pharmaceutical manufacturers and healthcare providers.