Federated Hermes Inc. Buys 160,423 Shares of Cencora, Inc. (NYSE:COR)

Federated Hermes Inc. grew its stake in shares of Cencora, Inc. (NYSE:COR) by 102.2% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 317,437 shares of the company’s stock after purchasing an additional 160,423 shares during the period. Federated Hermes Inc. owned about 0.16% of Cencora worth $71,519,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in COR. Rise Advisors LLC bought a new stake in Cencora during the 1st quarter worth approximately $25,000. New Millennium Group LLC purchased a new position in shares of Cencora in the 2nd quarter worth approximately $26,000. Legacy Bridge LLC purchased a new position in shares of Cencora in the 1st quarter worth approximately $27,000. TCTC Holdings LLC purchased a new position in shares of Cencora in the 1st quarter worth approximately $29,000. Finally, TFO Wealth Partners LLC purchased a new position in shares of Cencora in the 1st quarter worth approximately $30,000. 97.52% of the stock is owned by institutional investors.

Cencora Trading Up 0.9 %

Cencora stock opened at $239.88 on Friday. The stock has a market cap of $47.27 billion, a P/E ratio of 26.25, a PEG ratio of 1.55 and a beta of 0.44. Cencora, Inc. has a fifty-two week low of $175.50 and a fifty-two week high of $247.66. The firm’s fifty day moving average price is $233.58 and its 200-day moving average price is $233.27. The company has a debt-to-equity ratio of 3.93, a quick ratio of 0.55 and a current ratio of 0.89.

Cencora (NYSE:COR) last released its quarterly earnings results on Wednesday, July 31st. The company reported $3.34 earnings per share for the quarter, topping the consensus estimate 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 net margin of 0.65% and a return on equity of 266.60%. The business’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.92 earnings per share. Equities research analysts forecast that Cencora, Inc. will post 13.63 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were paid a $0.51 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.04 dividend on an annualized basis and a yield of 0.85%. Cencora’s dividend payout ratio is presently 22.32%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on COR. StockNews.com upgraded Cencora from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Robert W. Baird dropped their price objective on Cencora from $287.00 to $283.00 and set an “outperform” rating on the stock in a research note on Friday, September 6th. Leerink Partners reiterated an “outperform” rating and issued a $275.00 price objective on shares of Cencora in a research note on Thursday, June 27th. JPMorgan Chase & Co. increased their target price on Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Finally, Wells Fargo & Company increased their target price on Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $258.13.

Insider Activity at Cencora

In related news, EVP Silvana Battaglia sold 1,473 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $242.69, for a total value of $357,482.37. Following the transaction, the executive vice president now owns 10,948 shares of the company’s stock, valued at $2,656,970.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Silvana Battaglia sold 1,473 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $242.69, for a total transaction of $357,482.37. Following the transaction, the executive vice president now directly owns 10,948 shares of the company’s stock, valued at $2,656,970.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were 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 in the company, valued at $4,806,388,800. The disclosure for this sale can be found here. Insiders have sold a total of 4,450,399 shares of company stock valued at $1,070,392,799 over the last 90 days. 15.80% of the stock is owned by insiders.

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.