M&T Bank Corp Has $3.50 Million Stock Holdings in Cencora, Inc. (NYSE:COR)

M&T Bank Corp raised its position in shares of Cencora, Inc. (NYSE:COR) by 4.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,592 shares of the company’s stock after buying an additional 636 shares during the period. M&T Bank Corp’s holdings in Cencora were worth $3,503,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of COR. Pacer Advisors Inc. increased its holdings in shares of Cencora by 6,855.3% during the third quarter. Pacer Advisors Inc. now owns 2,065,374 shares of the company’s stock worth $464,874,000 after buying an additional 2,035,679 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Cencora by 7.0% during the third quarter. Wellington Management Group LLP now owns 5,193,386 shares of the company’s stock worth $1,168,927,000 after buying an additional 338,452 shares in the last quarter. Nordea Investment Management AB increased its holdings in shares of Cencora by 40.2% during the fourth quarter. Nordea Investment Management AB now owns 1,077,272 shares of the company’s stock worth $243,173,000 after buying an additional 308,773 shares in the last quarter. Two Sigma Advisers LP increased its holdings in shares of Cencora by 21.7% during the third quarter. Two Sigma Advisers LP now owns 1,638,400 shares of the company’s stock worth $368,771,000 after buying an additional 292,600 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of Cencora by 3.8% in the third quarter. State Street Corp now owns 8,045,896 shares of the company’s stock valued at $1,810,970,000 after purchasing an additional 291,867 shares in the last quarter. Institutional investors and hedge funds own 97.52% of the company’s stock.

Insider Transactions at Cencora

In related news, EVP Silvana Battaglia sold 1,678 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $228.72, for a total transaction of $383,792.16. Following the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Robert P. Mauch sold 4,970 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $255.00, for a total transaction of $1,267,350.00. Following the sale, the chief executive officer now owns 51,070 shares in the company, valued at approximately $13,022,850. The trade was a 8.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,648 shares of company stock valued at $2,862,342 over the last three months. 10.80% of the stock is currently owned by corporate insiders.

Cencora Price Performance

Shares of COR stock opened at $254.54 on Friday. Cencora, Inc. has a 52-week low of $214.77 and a 52-week high of $262.26. The stock has a market cap of $49.36 billion, a PE ratio of 36.21, a PEG ratio of 1.31 and a beta of 0.51. The company has a debt-to-equity ratio of 16.40, a quick ratio of 0.54 and a current ratio of 0.92. The firm’s 50 day moving average price is $244.34 and its two-hundred day moving average price is $238.40.

Cencora (NYSE:COR) last announced its quarterly 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 net margin of 0.46% and a return on equity of 328.62%. As a group, analysts forecast that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a dividend of $0.55 per share. The ex-dividend date was Friday, February 14th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.86%. Cencora’s dividend payout ratio is 31.29%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Evercore ISI raised their price target on shares of Cencora from $270.00 to $280.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Mizuho assumed coverage on shares of Cencora in a report on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 price target for the company. JPMorgan Chase & Co. raised their price target on shares of Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a report on Friday, January 24th. StockNews.com lowered shares of Cencora from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th. Finally, Wells Fargo & Company raised their price target on shares of Cencora from $237.00 to $251.00 and gave the company an “equal weight” rating in a report on Wednesday, January 29th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $277.90.

Cencora 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.