Korea Investment CORP Sells 56,956 Shares of Cencora, Inc. $COR

Korea Investment CORP lessened its holdings in Cencora, Inc. (NYSE:COR) by 32.8% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 116,478 shares of the company’s stock after selling 56,956 shares during the quarter. Korea Investment CORP owned approximately 0.06% of Cencora worth $36,403,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. United Bank lifted its position in shares of Cencora by 4.5% during the second quarter. United Bank now owns 7,032 shares of the company’s stock worth $2,109,000 after purchasing an additional 305 shares during the last quarter. Savant Capital LLC increased its stake in Cencora by 8.4% in the 2nd quarter. Savant Capital LLC now owns 8,251 shares of the company’s stock worth $2,474,000 after buying an additional 639 shares during the period. Fox Run Management L.L.C. purchased a new position in Cencora in the 2nd quarter worth about $448,000. AE Wealth Management LLC lifted its holdings in Cencora by 6.6% during the 2nd quarter. AE Wealth Management LLC now owns 20,792 shares of the company’s stock valued at $6,234,000 after buying an additional 1,283 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its holdings in Cencora by 1,475.4% during the 2nd quarter. Los Angeles Capital Management LLC now owns 13,942 shares of the company’s stock valued at $4,181,000 after buying an additional 13,057 shares in the last quarter. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Elizabeth S. Campbell sold 3,351 shares of the business’s stock in a transaction on Friday, December 19th. The stock was 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 directly owned 23,891 shares of the company’s stock, valued at approximately $8,173,111.10. The trade was a 12.30% 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 1,677 shares of the company’s stock in a transaction on Friday, December 19th. The stock was sold at an average price of $345.00, for a total value of $578,565.00. Following the sale, the executive vice president owned 18,796 shares of the company’s stock, valued at $6,484,620. This trade represents a 8.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 15,220 shares of company stock worth $5,282,867 over the last 90 days. Company insiders own 0.38% of the company’s stock.

Cencora Trading Up 0.9%

NYSE COR opened at $361.80 on Tuesday. The company has a debt-to-equity ratio of 3.62, a quick ratio of 0.51 and a current ratio of 0.92. The company has a market capitalization of $70.38 billion, a price-to-earnings ratio of 43.49, a price-to-earnings-growth ratio of 1.67 and a beta of 0.68. The company’s 50-day simple moving average is $354.60 and its two-hundred day simple moving average is $337.09. Cencora, Inc. has a one year low of $251.94 and a one year high of $377.54.

Cencora (NYSE:COR) last announced its quarterly earnings results on Wednesday, February 4th. The company reported $4.08 earnings per share for the quarter, topping 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 firm had revenue of $85.93 billion during the quarter, compared to analysts’ expectations of $86.12 billion. During the same quarter in the prior year, the company earned $3.73 EPS. The company’s revenue was up 5.5% compared to the same quarter last year. Equities analysts forecast that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages have commented on COR. Barclays upped their target price on shares of Cencora from $400.00 to $425.00 and gave the stock an “overweight” rating in a research note on Friday, February 13th. JPMorgan Chase & Co. lifted their price target on shares of Cencora from $417.00 to $419.00 and gave the company an “overweight” rating in a research note on Tuesday, February 10th. Jefferies Financial Group upgraded Cencora from an “underperform” rating to a “buy” rating in a report on Thursday, January 22nd. Evercore dropped their price objective on Cencora from $440.00 to $420.00 and set an “outperform” rating on the stock in a research note on Thursday, February 5th. Finally, Wells Fargo & Company raised their price objective on Cencora from $405.00 to $429.00 and gave the stock an “overweight” rating in a 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 company. According to MarketBeat, the stock presently 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.