Baird Financial Group Inc. Lowers Stake in Cencora, Inc. (NYSE:COR)

Baird Financial Group Inc. trimmed its holdings in shares of Cencora, Inc. (NYSE:COR - Free Report) by 1.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 82,854 shares of the company's stock after selling 1,075 shares during the period. Baird Financial Group Inc.'s holdings in Cencora were worth $18,616,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in COR. Norges Bank acquired a new position in shares of Cencora during the 4th quarter worth about $478,309,000. Bank of America Corp DE increased its holdings in shares of Cencora by 62.3% during the 4th quarter. Bank of America Corp DE now owns 5,193,807 shares of the company's stock worth $1,166,944,000 after acquiring an additional 1,994,256 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Cencora in the 4th quarter valued at $322,460,000. Invesco Ltd. raised its stake in Cencora by 20.4% in the 4th quarter. Invesco Ltd. now owns 3,243,531 shares of the company's stock worth $728,757,000 after purchasing an additional 550,246 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in Cencora by 67.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 844,179 shares of the company's stock worth $189,670,000 after buying an additional 340,862 shares in the last quarter. 97.52% of the stock is owned by institutional investors.

Cencora Price Performance

Shares of Cencora stock traded down $0.65 during trading on Friday, reaching $283.12. 2,786,039 shares of the stock traded hands, compared to its average volume of 1,524,037. The company has a market capitalization of $54.90 billion, a price-to-earnings ratio of 40.27, a P/E/G ratio of 1.31 and a beta of 0.60. Cencora, Inc. has a 52-week low of $214.77 and a 52-week high of $309.35. The company has a debt-to-equity ratio of 16.40, a current ratio of 0.92 and a quick ratio of 0.54. The business has a fifty day simple moving average of $275.89 and a two-hundred day simple moving average of $252.97.

Cencora (NYSE:COR - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $4.42 earnings per share for the quarter, topping analysts' consensus estimates of $4.07 by $0.35. The business had revenue of $75.50 billion for the quarter, compared to analyst estimates of $75.41 billion. Cencora had a return on equity of 328.62% and a net margin of 0.46%. The business's revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the firm posted $3.80 earnings per share. Sell-side analysts expect that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Friday, May 16th will be given a dividend of $0.55 per share. The ex-dividend date is Friday, May 16th. This represents a $2.20 annualized dividend and a yield of 0.78%. Cencora's dividend payout ratio is presently 31.29%.

Analysts Set New Price Targets

COR has been the subject of several research reports. Bank of America increased their target price on Cencora from $270.00 to $285.00 and gave the company a "neutral" rating in a research report on Friday, April 11th. Evercore ISI raised their target price on Cencora from $270.00 to $280.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. UBS Group boosted their target price on shares of Cencora from $298.00 to $335.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Robert W. Baird raised their price objective on shares of Cencora from $314.00 to $350.00 and gave the company an "outperform" rating in a research report on Thursday. Finally, JPMorgan Chase & Co. upped their price objective on shares of Cencora from $289.00 to $301.00 and gave the company an "overweight" rating in a research note on Friday, January 24th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, Cencora presently has an average rating of "Moderate Buy" and a consensus target price of $301.18.

Insider Activity

In other Cencora news, CEO Robert P. Mauch sold 4,969 shares of the firm's stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $289.33, for a total value of $1,437,680.77. Following the transaction, the chief executive officer now directly owns 47,582 shares of the company's stock, valued at $13,766,900.06. This trade represents a 9.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Steven H. Collis sold 14,579 shares of the firm's stock in a transaction on Tuesday, April 22nd. The stock was sold at an average price of $281.81, for a total value of $4,108,507.99. Following the completion of the sale, the chairman now directly owns 315,913 shares of the company's stock, valued at $89,027,442.53. This trade represents a 4.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 50,223 shares of company stock worth $13,580,967 in the last ninety days. Company insiders own 10.80% of the company's stock.

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.