Park National Corp OH Invests $5.95 Million in Cencora, Inc. (NYSE:COR)

Park National Corp OH bought a new stake in shares of Cencora, Inc. (NYSE:COR) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 24,476 shares of the company’s stock, valued at approximately $5,947,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. acquired a new position in shares of Cencora in the 4th quarter valued at about $4,212,508,000. Grayhawk Investment Strategies Inc. acquired a new position in Cencora in the fourth quarter valued at approximately $987,000. Trust Co. of Vermont purchased a new stake in Cencora in the 4th quarter worth approximately $62,000. Wahed Invest LLC acquired a new stake in shares of Cencora during the 4th quarter worth approximately $567,000. Finally, HighPoint Advisor Group LLC purchased a new position in shares of Cencora during the 4th quarter valued at approximately $1,345,000. 97.52% of the stock is owned by hedge funds and other institutional investors.

Cencora Trading Up 1.3 %

COR stock traded up $3.04 on Tuesday, hitting $237.74. 456,330 shares of the company were exchanged, compared to its average volume of 1,330,908. The company has a debt-to-equity ratio of 3.41, a current ratio of 0.89 and a quick ratio of 0.53. The stock has a market capitalization of $47.42 billion, a price-to-earnings ratio of 25.87, a price-to-earnings-growth ratio of 1.62 and a beta of 0.48. Cencora, Inc. has a twelve month low of $171.65 and a twelve month high of $246.75. The business’s fifty day moving average is $229.49 and its two-hundred day moving average is $226.12.

Cencora (NYSE:COR) last released its quarterly earnings data on Wednesday, May 1st. The company reported $3.80 EPS for the quarter, topping analysts’ consensus estimates of $3.65 by $0.15. Cencora had a return on equity of 268.67% and a net margin of 0.67%. The business had revenue of $68.41 billion during the quarter, compared to the consensus estimate of $70.60 billion. During the same period in the prior year, the firm posted $3.50 EPS. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, research analysts forecast that Cencora, Inc. will post 13.44 earnings per share for the current year.

Cencora Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were paid a $0.51 dividend. The ex-dividend date was Thursday, May 9th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.86%. Cencora’s dividend payout ratio (DPR) is currently 22.32%.

Analyst Upgrades and Downgrades

COR has been the topic of several analyst reports. Robert W. Baird raised their price target on shares of Cencora from $275.00 to $277.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. StockNews.com cut Cencora from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 2nd. Leerink Partnrs reissued an “outperform” rating on shares of Cencora in a report on Monday, February 26th. SVB Leerink initiated coverage on Cencora in a research note on Monday, February 26th. They set an “outperform” rating and a $261.00 target price for the company. Finally, Citigroup lifted their price target on shares of Cencora from $265.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $233.90.

Insider Activity at Cencora

In other news, COO Robert P. Mauch sold 57,564 shares of the company’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $235.09, for a total value of $13,532,720.76. Following the completion of the transaction, the chief operating officer now directly owns 24,412 shares in the company, valued at $5,739,017.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Robert P. Mauch sold 57,564 shares of Cencora stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $235.09, for a total transaction of $13,532,720.76. Following the sale, the chief operating officer now directly owns 24,412 shares of the company’s stock, valued at $5,739,017.08. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Steven H. Collis sold 10,754 shares of the stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $237.48, for a total value of $2,553,859.92. Following the completion of the transaction, the chief executive officer now directly owns 285,088 shares of the company’s stock, valued at approximately $67,702,698.24. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,956,675 shares of company stock worth $422,352,056. 15.80% of the stock is currently owned by company 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.