Fifth Third Bancorp Acquires 1,167 Shares of Cencora, Inc. (NYSE:COR)

Fifth Third Bancorp increased its holdings in shares of Cencora, Inc. (NYSE:COR) by 6.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,224 shares of the company’s stock after acquiring an additional 1,167 shares during the quarter. Fifth Third Bancorp’s holdings in Cencora were worth $4,319,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in COR. Lake Street Advisors Group LLC grew its holdings in shares of Cencora by 1.3% during the 3rd quarter. Lake Street Advisors Group LLC now owns 3,415 shares of the company’s stock valued at $769,000 after purchasing an additional 43 shares during the last quarter. Venturi Wealth Management LLC grew its position in shares of Cencora by 1.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 4,447 shares of the company’s stock worth $1,001,000 after buying an additional 46 shares during the period. Prime Capital Investment Advisors LLC grew its holdings in Cencora by 1.2% in the third quarter. Prime Capital Investment Advisors LLC now owns 3,768 shares of the company’s stock worth $848,000 after purchasing an additional 46 shares during the period. J.W. Cole Advisors Inc. increased its position in Cencora by 1.3% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 3,669 shares of the company’s stock valued at $826,000 after buying an additional 48 shares in the last quarter. Finally, Impact Partnership Wealth LLC increased its holdings in shares of Cencora by 2.6% during the third quarter. Impact Partnership Wealth LLC now owns 2,042 shares of the company’s stock valued at $460,000 after acquiring an additional 51 shares in the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on COR shares. 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. Robert W. Baird lifted their price target on shares of Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. UBS Group upped their price objective on Cencora from $275.00 to $285.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Barclays lifted their target price on Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Finally, Wells Fargo & Company reduced their price target on Cencora from $249.00 to $237.00 and set an “equal weight” rating for the company in a research report on Friday, December 13th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $277.00.

Cencora Stock Up 0.2 %

Shares of COR opened at $248.45 on Monday. The company has a quick ratio of 0.53, a current ratio of 0.88 and a debt-to-equity ratio of 4.84. The business has a fifty day moving average of $237.51 and a 200 day moving average of $234.83. The company has a market cap of $48.02 billion, a PE ratio of 33.08, a P/E/G ratio of 1.54 and a beta of 0.49. Cencora, Inc. has a 52-week low of $214.77 and a 52-week high of $253.27.

Cencora Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 0.89%. The ex-dividend date was Friday, November 15th. This is an increase from Cencora’s previous quarterly dividend of $0.51. Cencora’s payout ratio is currently 29.29%.

Insider Activity at Cencora

In related news, Chairman Steven H. Collis sold 50,000 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $243.97, for a total value of $12,198,500.00. Following the completion of the sale, the chairman now directly owns 326,557 shares of the company’s stock, valued at $79,670,111.29. This represents a 13.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Silvana Battaglia sold 1,678 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $228.72, for a total transaction of $383,792.16. Following the transaction, the executive vice president now directly owns 20,329 shares in the company, valued at $4,649,648.88. This trade represents a 7.62 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 73,187 shares of company stock worth $17,790,912. Company 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.