JPMorgan Chase & Co. Makes New $1.20 Billion Investment in Cencora, Inc. (NYSE:COR)

JPMorgan Chase & Co. acquired a new stake in shares of Cencora, Inc. (NYSE:COR) during the 1st quarter, Holdings Channel reports. The firm acquired 4,937,221 shares of the company’s stock, valued at approximately $1,199,695,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in COR. Rise Advisors LLC bought a new stake in Cencora in the 1st quarter valued at about $25,000. Legacy Bridge LLC acquired a new stake in Cencora in the first quarter valued at approximately $27,000. TCTC Holdings LLC bought a new stake in shares of Cencora during the first quarter valued at approximately $29,000. WASHINGTON TRUST Co acquired a new position in shares of Cencora during the first quarter worth approximately $32,000. Finally, Hanson & Doremus Investment Management acquired a new position in Cencora during the first quarter worth $33,000. Institutional investors own 97.52% of the company’s stock.

Insider Transactions at Cencora

In related news, EVP Gina Clark sold 1,874 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $223.86, for a total transaction of $419,513.64. Following the sale, the executive vice president now directly owns 13,284 shares in the company, valued at approximately $2,973,756.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Cencora news, EVP Gina Clark sold 1,874 shares of Cencora stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $223.86, for a total transaction of $419,513.64. Following the completion of the transaction, the executive vice president now owns 13,284 shares of the company’s stock, valued at approximately $2,973,756.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dermot Mark Durcan bought 500 shares of the stock in a transaction on Friday, May 24th. The stock was purchased at an average price of $218.58 per share, for a total transaction of $109,290.00. Following the completion of the purchase, the director now directly owns 21,876 shares in the company, valued at $4,781,656.08. The disclosure for this purchase can be found here. Insiders sold 1,899,112 shares of company stock worth $408,654,376 over the last quarter. Corporate insiders own 15.80% of the company’s stock.

Cencora Stock Performance

COR stock traded down $0.11 during mid-day trading on Friday, hitting $223.60. The company had a trading volume of 1,357,117 shares, compared to its average volume of 1,543,746. The stock’s fifty day moving average price is $226.58 and its two-hundred day moving average price is $229.94. Cencora, Inc. has a 12 month low of $171.65 and a 12 month high of $246.75. The firm has a market cap of $44.60 billion, a PE ratio of 24.46, a price-to-earnings-growth ratio of 1.55 and a beta of 0.45. The company has a debt-to-equity ratio of 3.41, a quick ratio of 0.53 and a current ratio of 0.89.

Cencora (NYSE:COR) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $3.80 EPS for the quarter, beating analysts’ consensus estimates of $3.65 by $0.15. The firm had revenue of $68.41 billion for the quarter, compared to analysts’ expectations of $70.60 billion. Cencora had a return on equity of 268.67% and a net margin of 0.67%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.50 EPS. On average, analysts forecast that Cencora, Inc. will post 13.46 earnings per share for the current fiscal year.

Cencora Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were given a dividend of $0.51 per share. The ex-dividend date was Thursday, May 9th. This represents a $2.04 dividend on an annualized basis and a yield of 0.91%. Cencora’s dividend payout ratio is presently 22.32%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on COR shares. StockNews.com downgraded shares of Cencora from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 2nd. SVB Leerink restated an “outperform” rating and issued a $275.00 target price on shares of Cencora in a report on Thursday, June 27th. Robert W. Baird lifted their target price on Cencora from $280.00 to $285.00 and gave the company an “outperform” rating in a research report on Tuesday, July 9th. Finally, Citigroup increased their price target on Cencora from $265.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $238.78.

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.