Busey Bank Decreases Position in Cencora, Inc. (NYSE:COR)

Busey Bank decreased its position in shares of Cencora, Inc. (NYSE:COR) by 2.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,643 shares of the company’s stock after selling 104 shares during the quarter. Busey Bank’s holdings in Cencora were worth $1,046,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. purchased a new stake in Cencora during the 4th quarter valued at $4,212,508,000. Price T Rowe Associates Inc. MD bought a new position in shares of Cencora during the first quarter valued at $2,183,619,000. JPMorgan Chase & Co. purchased a new stake in shares of Cencora during the first quarter valued at $1,199,695,000. Boston Partners bought a new stake in Cencora in the 1st quarter worth about $1,001,269,000. Finally, Capital Research Global Investors purchased a new position in Cencora in the 1st quarter worth about $650,424,000. Institutional investors own 97.52% of the company’s stock.

Insider Transactions at Cencora

In other news, Director Dermot Mark Durcan bought 500 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The stock was bought at an average price of $218.58 per share, with a total value of $109,290.00. Following the acquisition, the director now owns 21,876 shares of the company’s stock, valued at approximately $4,781,656.08. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Cencora news, Director Dermot Mark Durcan acquired 500 shares of the stock in a transaction dated Friday, May 24th. The shares were acquired at an average cost of $218.58 per share, for a total transaction of $109,290.00. Following the completion of the transaction, the director now directly owns 21,876 shares of the company’s stock, valued at $4,781,656.08. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the stock in a transaction dated 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 sale, the insider now 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. Insiders sold a total of 4,479,366 shares of company stock valued at $1,076,666,297 over the last three months. Corporate insiders own 15.80% of the company’s stock.

Cencora Stock Performance

Cencora stock traded up $0.49 during trading on Thursday, reaching $239.83. The company had a trading volume of 126,259 shares, compared to its average volume of 1,365,310. The firm’s 50-day simple moving average is $231.58 and its 200 day simple moving average is $232.73. Cencora, Inc. has a 52 week low of $171.65 and a 52 week high of $247.66. The company has a current ratio of 0.89, a quick ratio of 0.53 and a debt-to-equity ratio of 3.93. The firm has a market capitalization of $47.83 billion, a price-to-earnings ratio of 26.18, a price-to-earnings-growth ratio of 1.68 and a beta of 0.45.

Cencora (NYSE:COR) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $3.34 earnings per share for the quarter, beating analysts’ consensus estimates of $3.18 by $0.16. The firm had revenue of $74.20 billion for the quarter, compared to analysts’ expectations of $73.32 billion. Cencora had a return on equity of 266.60% and a net margin of 0.65%. The business’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.92 EPS. Sell-side analysts forecast that Cencora, Inc. will post 13.56 earnings per share for the current fiscal year.

Cencora Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 26th. Stockholders of record on Friday, August 9th will be paid a $0.51 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.85%. Cencora’s dividend payout ratio (DPR) is presently 22.32%.

Analysts Set New Price Targets

COR has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a research note on Wednesday. StockNews.com upgraded shares of Cencora from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Wells Fargo & Company raised their price target on Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Citigroup upped their price objective on Cencora from $265.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Finally, SVB Leerink reissued an “outperform” rating and issued a $275.00 target price on shares of Cencora in a research report on Thursday, June 27th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Cencora currently has a consensus rating of “Moderate Buy” and a consensus price target of $258.63.

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.