KLP Kapitalforvaltning AS Invests $19.54 Million in Cencora, Inc. (NYSE:COR)

KLP Kapitalforvaltning AS bought a new position in shares of Cencora, Inc. (NYSE:COR) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 86,981 shares of the company’s stock, valued at approximately $19,543,000.

A number of other hedge funds and other institutional investors have also modified their holdings of COR. Swedbank AB increased its holdings in Cencora by 2.3% in the third quarter. Swedbank AB now owns 1,394,449 shares of the company’s stock valued at $313,863,000 after buying an additional 31,104 shares during the last quarter. United Bank increased its holdings in Cencora by 4.2% in the third quarter. United Bank now owns 5,601 shares of the company’s stock valued at $1,261,000 after buying an additional 225 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Cencora by 3.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 961,543 shares of the company’s stock valued at $216,424,000 after buying an additional 31,505 shares during the last quarter. Raymond James Trust N.A. increased its holdings in Cencora by 1.3% in the third quarter. Raymond James Trust N.A. now owns 3,925 shares of the company’s stock valued at $883,000 after buying an additional 52 shares during the last quarter. Finally, Meridian Wealth Management LLC bought a new stake in Cencora in the third quarter valued at about $375,000. 97.52% of the stock is owned by hedge funds and other institutional investors.

Cencora Stock Performance

COR opened at $266.91 on Monday. The company has a market capitalization of $51.76 billion, a price-to-earnings ratio of 37.97, a price-to-earnings-growth ratio of 1.31 and a beta of 0.51. The company has a debt-to-equity ratio of 16.40, a current ratio of 0.92 and a quick ratio of 0.54. Cencora, Inc. has a 1-year low of $214.77 and a 1-year high of $271.08. The business has a 50 day moving average price of $250.62 and a two-hundred day moving average price of $240.01.

Cencora (NYSE:COR) last released its earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share for the quarter, topping 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%. Research analysts predict that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a $0.55 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.20 annualized dividend and a dividend yield of 0.82%. Cencora’s dividend payout ratio is currently 31.29%.

Insider Buying and Selling at Cencora

In other Cencora news, CEO Robert P. Mauch sold 4,970 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $255.00, for a total value of $1,267,350.00. Following the transaction, the chief executive officer now owns 51,070 shares of the company’s stock, valued at approximately $13,022,850. This represents a 8.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Lazarus Krikorian sold 2,000 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $260.06, for a total value of $520,120.00. Following the completion of the transaction, the chief accounting officer now directly owns 20,154 shares in the company, valued at $5,241,249.24. This represents a 9.03 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,970 shares of company stock valued at $2,998,670. Corporate insiders own 10.80% of the company’s stock.

Analyst Ratings Changes

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

Cencora Company 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.