CIBC Bancorp USA Inc. Invests $8.33 Million in Cencora, Inc. $COR

CIBC Bancorp USA Inc. acquired a new stake in Cencora, Inc. (NYSE:COR) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 26,645 shares of the company’s stock, valued at approximately $8,327,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Achmea Investment Management B.V. raised its position in shares of Cencora by 1.0% during the 3rd quarter. Achmea Investment Management B.V. now owns 112,575 shares of the company’s stock valued at $35,183,000 after acquiring an additional 1,071 shares in the last quarter. Centaurus Financial Inc. boosted its holdings in Cencora by 26.0% in the third quarter. Centaurus Financial Inc. now owns 3,494 shares of the company’s stock worth $1,092,000 after purchasing an additional 722 shares during the period. Danske Bank A S acquired a new position in Cencora in the third quarter worth $95,614,000. Advisory Services Network LLC increased its stake in Cencora by 20.8% during the third quarter. Advisory Services Network LLC now owns 3,785 shares of the company’s stock valued at $1,183,000 after purchasing an additional 653 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its stake in Cencora by 2,917.3% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 56,575 shares of the company’s stock valued at $17,676,000 after purchasing an additional 54,700 shares during the last quarter. Institutional investors and hedge funds own 97.52% of the company’s stock.

Insider Buying and Selling

In related news, CEO Robert P. Mauch sold 5,096 shares of the firm’s stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $354.73, for a total value of $1,807,704.08. Following the completion of the transaction, the chief executive officer directly owned 66,726 shares of the company’s stock, valued at $23,669,713.98. This trade represents a 7.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.38% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Leerink Partners restated an “outperform” rating on shares of Cencora in a research report on Tuesday. Barclays boosted their price objective on shares of Cencora from $400.00 to $425.00 and gave the company an “overweight” rating in a research report on Friday, February 13th. JPMorgan Chase & Co. increased their price objective on shares of Cencora from $417.00 to $419.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 10th. Evercore reissued an “outperform” rating on shares of Cencora in a report on Tuesday. Finally, Robert W. Baird set a $415.00 target price on Cencora in a research note on Tuesday, January 13th. Twelve research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Cencora currently has an average rating of “Moderate Buy” and an average price target of $403.17.

Cencora Stock Down 1.1%

COR stock opened at $327.96 on Friday. Cencora, Inc. has a twelve month low of $265.59 and a twelve month high of $377.54. The company has a quick ratio of 0.51, a current ratio of 0.92 and a debt-to-equity ratio of 3.62. The company has a market cap of $63.80 billion, a PE ratio of 39.42, a price-to-earnings-growth ratio of 1.55 and a beta of 0.68. The business’s 50-day simple moving average is $354.93 and its 200 day simple moving average is $339.61.

Cencora (NYSE:COR) last posted its quarterly earnings results on Wednesday, February 4th. The company reported $4.08 EPS for the quarter, beating the consensus estimate of $4.04 by $0.04. Cencora had a return on equity of 176.54% and a net margin of 0.50%.The firm had revenue of $85.93 billion during the quarter, compared to analysts’ expectations of $86.12 billion. During the same quarter in the prior year, the firm posted $3.73 EPS. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, research analysts anticipate that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Friday, February 13th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Friday, February 13th. Cencora’s dividend payout ratio is presently 28.85%.

About Cencora

Cencora (NYSE:COR) is a global healthcare services and pharmaceutical distribution company that provides end-to-end solutions across the pharmaceutical supply chain. The company’s core activities include wholesale drug distribution, specialty drug distribution, and the operation of specialty pharmacies, complemented by logistics, cold-chain management and other fulfillment services designed to support complex and temperature-sensitive therapies.

Beyond physical distribution, Cencora offers a range of commercial and patient-focused services for pharmaceutical manufacturers and healthcare providers.