Achmea Investment Management B.V. Sells 11,928 Shares of Cencora, Inc. (NYSE:COR)

Achmea Investment Management B.V. reduced its position in shares of Cencora, Inc. (NYSE:COR - Free Report) by 9.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 113,942 shares of the company's stock after selling 11,928 shares during the quarter. Achmea Investment Management B.V. owned approximately 0.06% of Cencora worth $31,687,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD grew its holdings in shares of Cencora by 0.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,859,452 shares of the company's stock valued at $1,990,542,000 after buying an additional 78,066 shares during the last quarter. Bank of America Corp DE grew its stake in Cencora by 62.3% during the fourth quarter. Bank of America Corp DE now owns 5,193,807 shares of the company's stock valued at $1,166,944,000 after acquiring an additional 1,994,256 shares in the last quarter. Boston Partners boosted its position in shares of Cencora by 2.6% during the 4th quarter. Boston Partners now owns 5,007,100 shares of the company's stock valued at $1,128,058,000 after acquiring an additional 125,611 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Cencora by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 4,326,064 shares of the company's stock valued at $969,471,000 after acquiring an additional 130,213 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Cencora by 20.4% in the 4th quarter. Invesco Ltd. now owns 3,243,531 shares of the company's stock valued at $728,757,000 after purchasing an additional 550,246 shares during the last quarter. Institutional investors own 97.52% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on COR. Wall Street Zen upgraded shares of Cencora from a "hold" rating to a "buy" rating in a research note on Wednesday, March 12th. UBS Group boosted their target price on Cencora from $298.00 to $335.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Wells Fargo & Company upgraded shares of Cencora from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $274.00 to $337.00 in a research note on Tuesday, June 3rd. Morgan Stanley set a $288.00 target price on shares of Cencora in a report on Tuesday, April 15th. Finally, Bank of America raised their price objective on shares of Cencora from $270.00 to $285.00 and gave the stock a "neutral" rating in a research note on Friday, April 11th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $306.91.

Cencora Stock Performance

Shares of COR stock opened at $296.70 on Friday. The company has a debt-to-equity ratio of 6.01, a quick ratio of 0.52 and a current ratio of 0.87. The company's 50-day simple moving average is $289.70 and its 200-day simple moving average is $264.56. Cencora, Inc. has a one year low of $218.65 and a one year high of $309.35. The stock has a market capitalization of $57.51 billion, a price-to-earnings ratio of 34.42, a PEG ratio of 1.45 and a beta of 0.58.

Cencora (NYSE:COR - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $4.42 EPS for the quarter, topping the consensus estimate of $4.07 by $0.35. The firm had revenue of $75.50 billion for the quarter, compared to analysts' expectations of $75.41 billion. Cencora had a net margin of 0.55% and a return on equity of 344.71%. Cencora's revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the previous year, the business earned $3.80 earnings per share. Equities analysts anticipate that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 16th were paid a dividend of $0.55 per share. The ex-dividend date was Friday, May 16th. This represents a $2.20 annualized dividend and a yield of 0.74%. Cencora's payout ratio is 25.52%.

Insider Transactions at Cencora

In other news, Chairman Steven H. Collis sold 14,579 shares of the stock in a transaction that occurred 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 sale, the chairman now directly owns 315,913 shares of the company's stock, valued at $89,027,442.53. This represents a 4.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Robert P. Mauch sold 4,969 shares of the business's stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $289.33, for a total transaction of $1,437,680.77. Following the sale, the chief executive officer now directly owns 47,582 shares of the company's stock, valued at approximately $13,766,900.06. This trade represents a 9.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,127 shares of company stock worth $9,812,296. 10.80% of the stock is currently owned by company insiders.

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.

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