Hancock Whitney Corp Purchases 546 Shares of Cencora, Inc. (NYSE:COR)

Hancock Whitney Corp raised its holdings in shares of Cencora, Inc. (NYSE:COR) by 0.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 74,615 shares of the company’s stock after acquiring an additional 546 shares during the quarter. Hancock Whitney Corp’s holdings in Cencora were worth $16,811,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in COR. Kingswood Wealth Advisors LLC bought a new stake in Cencora during the second quarter worth about $655,000. TD Asset Management Inc bought a new stake in shares of Cencora during the 1st quarter worth approximately $95,313,000. LSV Asset Management acquired a new stake in shares of Cencora in the 1st quarter valued at approximately $3,579,000. Cairn Investment Group Inc. bought a new position in shares of Cencora in the first quarter valued at $2,294,000. Finally, Lake Street Advisors Group LLC acquired a new position in Cencora during the first quarter worth $836,000. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Cencora Stock Performance

COR opened at $228.11 on Friday. The company has a debt-to-equity ratio of 3.93, a current ratio of 0.89 and a quick ratio of 0.55. The business has a fifty day simple moving average of $234.84 and a 200 day simple moving average of $233.13. Cencora, Inc. has a 1 year low of $178.21 and a 1 year high of $247.66. The company has a market capitalization of $45.50 billion, a PE ratio of 24.96, a price-to-earnings-growth ratio of 1.55 and a beta of 0.44.

Cencora (NYSE:COR) last announced its earnings results on Wednesday, July 31st. The company reported $3.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.18 by $0.16. Cencora had a net margin of 0.65% and a return on equity of 266.60%. The company had revenue of $74.20 billion during the quarter, compared to analysts’ expectations of $73.32 billion. During the same quarter in the previous year, the business posted $2.92 earnings per share. Cencora’s quarterly revenue was up 10.8% on a year-over-year basis. Research analysts expect that Cencora, Inc. will post 13.63 EPS for the current year.

Cencora Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were issued a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.04 annualized dividend and a dividend yield of 0.89%. Cencora’s dividend payout ratio is presently 22.32%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on COR shares. Bank of America reiterated a “neutral” rating and issued a $245.00 price target (down previously from $275.00) on shares of Cencora in a research note on Wednesday. Robert W. Baird cut their target price on shares of Cencora from $287.00 to $283.00 and set an “outperform” rating for the company in a research note on Friday, September 6th. StockNews.com downgraded Cencora from a “strong-buy” rating to a “buy” rating in a research report on Friday. JPMorgan Chase & Co. raised their price objective on Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Finally, Leerink Partners reissued an “outperform” rating and set a $275.00 target price on shares of Cencora in a report on Thursday, June 27th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $256.67.

Insider Activity

In other news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $240.56, for a total transaction of $1,067,646,415.76. Following the completion of the sale, the insider now directly owns 19,980,000 shares in the company, valued at approximately $4,806,388,800. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Steven H. Collis sold 10,755 shares of Cencora stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $222.12, for a total value of $2,388,900.60. Following the transaction, the chief executive officer now directly owns 285,088 shares of the company’s stock, valued at $63,323,746.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $240.56, for a total value of $1,067,646,415.76. Following the transaction, the insider now directly owns 19,980,000 shares of the company’s stock, valued at approximately $4,806,388,800. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,450,399 shares of company stock worth $1,070,392,799. Corporate insiders own 15.80% of the company’s stock.

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.