Cresset Asset Management LLC Cuts Holdings in Cencora, Inc. (NYSE:COR)

Cresset Asset Management LLC cut its position in shares of Cencora, Inc. (NYSE:COR - Free Report) by 72.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,442 shares of the company's stock after selling 11,642 shares during the quarter. Cresset Asset Management LLC's holdings in Cencora were worth $998,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Whittier Trust Co. lifted its stake in shares of Cencora by 0.6% during the 4th quarter. Whittier Trust Co. now owns 7,856 shares of the company's stock valued at $1,765,000 after buying an additional 44 shares in the last quarter. Shepherd Financial Partners LLC increased its holdings in shares of Cencora by 0.9% in the 4th quarter. Shepherd Financial Partners LLC now owns 5,441 shares of the company's stock worth $1,223,000 after buying an additional 46 shares during the last quarter. WASHINGTON TRUST Co increased its holdings in shares of Cencora by 37.7% in the 4th quarter. WASHINGTON TRUST Co now owns 168 shares of the company's stock worth $38,000 after buying an additional 46 shares during the last quarter. JFS Wealth Advisors LLC lifted its stake in Cencora by 63.0% in the fourth quarter. JFS Wealth Advisors LLC now owns 119 shares of the company's stock worth $27,000 after purchasing an additional 46 shares during the last quarter. Finally, Cullen Frost Bankers Inc. lifted its stake in Cencora by 1.1% in the fourth quarter. Cullen Frost Bankers Inc. now owns 4,463 shares of the company's stock worth $1,003,000 after purchasing an additional 47 shares during the last quarter. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Cencora

In other Cencora news, CEO Robert P. Mauch sold 4,969 shares of Cencora stock in a transaction 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 sale, the chief executive officer now directly owns 47,582 shares in the company, valued at approximately $13,766,900.06. The trade was a 9.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Steven H. Collis sold 14,579 shares of Cencora stock in a transaction on Tuesday, April 22nd. The shares were sold at an average price of $281.81, for a total transaction of $4,108,507.99. Following the completion of the sale, the chairman now owns 315,913 shares in the company, valued at approximately $89,027,442.53. This represents a 4.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,223 shares of company stock worth $13,580,967. 10.80% of the stock is owned by corporate insiders.

Cencora Stock Down 1.6%

COR opened at $278.35 on Tuesday. The company has a current ratio of 0.92, a quick ratio of 0.54 and a debt-to-equity ratio of 16.40. Cencora, Inc. has a 1-year low of $214.77 and a 1-year high of $309.35. The company has a market capitalization of $53.98 billion, a PE ratio of 39.59, a PEG ratio of 1.31 and a beta of 0.60. The firm's 50 day simple moving average is $277.02 and its two-hundred day simple moving average is $253.87.

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, beating analysts' consensus estimates of $4.07 by $0.35. Cencora had a net margin of 0.46% and a return on equity of 328.62%. The company had revenue of $75.50 billion for the quarter, compared to analysts' expectations of $75.41 billion. During the same quarter in the previous year, the company earned $3.80 EPS. Cencora's revenue for the quarter was up 10.3% on a year-over-year basis. As a group, equities analysts forecast that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Friday, May 16th will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date of this dividend is Friday, May 16th. Cencora's dividend payout ratio (DPR) is 25.52%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. 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. StockNews.com raised shares of Cencora from a "hold" rating to a "buy" rating in a research note on Wednesday, March 12th. Robert W. Baird increased their price target on shares of Cencora from $314.00 to $350.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Wells Fargo & Company raised their target price on shares of Cencora from $251.00 to $274.00 and gave the stock an "equal weight" rating in a report on Friday, March 14th. Finally, UBS Group raised their target price on shares of Cencora from $298.00 to $335.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $301.18.

Cencora 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.

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