United Bank Acquires 886 Shares of Cencora, Inc. (NYSE:COR)

United Bank lifted its holdings in Cencora, Inc. (NYSE:COR) by 15.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 6,487 shares of the company’s stock after acquiring an additional 886 shares during the quarter. United Bank’s holdings in Cencora were worth $1,457,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. JFS Wealth Advisors LLC grew its position in Cencora by 63.0% during the 4th quarter. JFS Wealth Advisors LLC now owns 119 shares of the company’s stock valued at $27,000 after purchasing an additional 46 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Cencora during the fourth quarter valued at approximately $30,000. Kentucky Trust Co bought a new stake in shares of Cencora during the fourth quarter valued at approximately $33,000. Householder Group Estate & Retirement Specialist LLC raised its holdings in Cencora by 85.2% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 150 shares of the company’s stock worth $33,000 after acquiring an additional 69 shares during the last quarter. Finally, WASHINGTON TRUST Co lifted its position in Cencora by 37.7% in the 4th quarter. WASHINGTON TRUST Co now owns 168 shares of the company’s stock valued at $38,000 after acquiring an additional 46 shares in the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Cencora Stock Performance

NYSE:COR opened at $275.16 on Friday. 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 stock has a 50-day simple moving average of $253.81 and a two-hundred day simple moving average of $241.21. The firm has a market capitalization of $53.36 billion, a PE ratio of 39.14, a P/E/G 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.

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 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%. Analysts forecast that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Announces Dividend

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

Insiders Place Their Bets

In other Cencora 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 completion of the sale, the executive vice president now directly owns 14,665 shares of the company’s stock, valued at $3,934,326.20. This trade represents a 21.96 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Steven H. Collis sold 14,578 shares of the company’s 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 transaction, the chairman now owns 317,913 shares of the company’s stock, valued at approximately $85,680,732.63. This represents a 4.38 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,675 shares of company stock worth $8,034,778. Corporate insiders own 10.80% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.