Earnest Partners LLC Sells 2,449 Shares of Cencora, Inc. (NYSE:COR)

Earnest Partners LLC trimmed its holdings in Cencora, Inc. (NYSE:COR - Free Report) by 0.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 299,511 shares of the company's stock after selling 2,449 shares during the period. Earnest Partners LLC owned about 0.15% of Cencora worth $67,294,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. JFS Wealth Advisors LLC lifted its position in shares of Cencora by 63.0% during the fourth quarter. JFS Wealth Advisors LLC now owns 119 shares of the company's stock valued at $27,000 after purchasing an additional 46 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Cencora in the 4th quarter worth approximately $30,000. Kentucky Trust Co bought a new position in shares of Cencora in the fourth quarter valued at approximately $33,000. Householder Group Estate & Retirement Specialist LLC increased its position in shares of Cencora by 85.2% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 150 shares of the company's stock valued at $33,000 after acquiring an additional 69 shares during the last quarter. Finally, WASHINGTON TRUST Co boosted its position in Cencora by 37.7% in the fourth quarter. WASHINGTON TRUST Co now owns 168 shares of the company's stock worth $38,000 after purchasing an additional 46 shares during the last quarter. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on COR shares. JPMorgan Chase & Co. raised their target price on Cencora from $289.00 to $301.00 and gave the company an "overweight" rating in a research report on Friday, January 24th. Bank of America lifted their price objective on shares of Cencora from $270.00 to $285.00 and gave the stock a "neutral" rating in a research report on Friday, April 11th. Evercore ISI increased their target price on shares of Cencora from $270.00 to $280.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. UBS Group lifted their price target on shares of Cencora from $298.00 to $335.00 and gave the stock a "buy" rating in a report on Tuesday. Finally, StockNews.com upgraded Cencora from a "hold" rating to a "buy" rating in a research note on Wednesday, March 12th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $290.00.

Cencora Price Performance

Shares of COR traded up $1.74 during midday trading on Friday, hitting $292.17. 1,046,562 shares of the company traded hands, compared to its average volume of 1,513,583. Cencora, Inc. has a one year low of $214.77 and a one year high of $296.65. The firm has a market cap of $56.66 billion, a P/E ratio of 41.56, a PEG ratio of 1.31 and a beta of 0.55. 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 stock has a 50-day moving average of $271.82 and a 200-day moving average of $251.02.

Cencora (NYSE:COR - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The company reported $3.73 EPS for the quarter, beating 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, sell-side analysts predict that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a $0.55 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.20 annualized dividend and a dividend yield of 0.75%. Cencora's payout ratio is currently 31.29%.

Insider Buying and Selling

In other Cencora news, CAO Lazarus Krikorian sold 2,000 shares of Cencora stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $260.06, for a total value of $520,120.00. Following the transaction, the chief accounting officer now directly owns 20,154 shares of the company's stock, valued at $5,241,249.24. The trade was a 9.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Silvana Battaglia sold 5,000 shares of the business's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $242.24, for a total transaction of $1,211,200.00. Following the completion of the transaction, the executive vice president now owns 15,374 shares in the company, valued at $3,724,197.76. The trade was a 24.54 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,223 shares of company stock worth $13,580,967. Insiders own 10.80% of the company's stock.

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.