Adams Diversified Equity Fund Inc. Sells 3,900 Shares of Cencora, Inc. $COR

Key Points

• Adams Diversified Equity Fund Inc. reduced its stake in Cencora, Inc. by 4.8%, selling 3,900 shares and now holding 77,100 shares valued at approximately $23.1 million.
• Major institutional investors such as Price T Rowe Associates and Invesco Ltd. increased their holdings in Cencora, with over 97.52% of the stock owned by institutional investors.
• Equities analysts have set a consensus price target of $324.91 for Cencora, Inc., with a majority rating it as a "Moderate Buy."

Adams Diversified Equity Fund Inc. trimmed its stake in shares of Cencora, Inc. (NYSE:COR - Free Report) by 4.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 77,100 shares of the company's stock after selling 3,900 shares during the quarter. Adams Diversified Equity Fund Inc.'s holdings in Cencora were worth $23,118,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Price T Rowe Associates Inc. MD grew its position in Cencora by 8.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,647,310 shares of the company's stock worth $2,682,821,000 after acquiring an additional 787,858 shares during the last quarter. Wellington Management Group LLP grew its position in Cencora by 7.2% during the 1st quarter. Wellington Management Group LLP now owns 5,421,262 shares of the company's stock worth $1,507,599,000 after acquiring an additional 363,402 shares during the last quarter. Boston Partners grew its position in Cencora by 8.1% during the 1st quarter. Boston Partners now owns 5,411,193 shares of the company's stock worth $1,505,984,000 after acquiring an additional 404,093 shares during the last quarter. Invesco Ltd. grew its position in Cencora by 42.1% during the 1st quarter. Invesco Ltd. now owns 4,607,964 shares of the company's stock worth $1,281,429,000 after acquiring an additional 1,364,433 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Cencora by 9.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,711,281 shares of the company's stock worth $475,890,000 after acquiring an additional 154,311 shares during the last quarter. 97.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on COR shares. Evercore ISI set a $340.00 price target on Cencora in a research report on Wednesday, October 8th. Morgan Stanley set a $330.00 price objective on Cencora and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. Jefferies Financial Group lifted their price objective on Cencora from $275.00 to $300.00 and gave the stock a "hold" rating in a research report on Monday, June 30th. Weiss Ratings reiterated a "buy (b)" rating on shares of Cencora in a research report on Wednesday, October 8th. Finally, Mizuho lifted their price objective on Cencora from $316.00 to $334.00 and gave the stock an "outperform" rating in a research report on Thursday, October 16th. Nine equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $324.91.

Insider Activity at Cencora

In other Cencora news, Chairman Steven H. Collis sold 31,350 shares of Cencora stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $289.86, for a total transaction of $9,087,111.00. Following the completion of the transaction, the chairman owned 305,913 shares in the company, valued at approximately $88,671,942.18. The trade was a 9.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Robert P. Mauch sold 5,097 shares of Cencora stock in a transaction on Monday, October 20th. The shares were sold at an average price of $326.80, for a total value of $1,665,699.60. Following the transaction, the chief executive officer owned 37,940 shares of the company's stock, valued at $12,398,792. The trade was a 11.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,544 shares of company stock worth $12,230,941 over the last 90 days. 10.80% of the stock is currently owned by corporate insiders.

Cencora Trading Up 0.3%

NYSE COR opened at $328.36 on Wednesday. The company has a quick ratio of 0.53, a current ratio of 0.90 and a debt-to-equity ratio of 3.64. Cencora, Inc. has a twelve month low of $223.92 and a twelve month high of $329.58. The firm has a market capitalization of $63.66 billion, a PE ratio of 33.78, a P/E/G ratio of 1.53 and a beta of 0.63. The stock's 50 day moving average is $301.82 and its 200 day moving average is $293.84.

Cencora (NYSE:COR - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $4.00 earnings per share for the quarter, beating the consensus estimate of $3.79 by $0.21. Cencora had a return on equity of 267.36% and a net margin of 0.60%.The company had revenue of $80.66 billion for the quarter, compared to analyst estimates of $80.34 billion. During the same period in the previous year, the company posted $3.34 earnings per share. The firm's revenue was up 8.7% on a year-over-year basis. Research analysts forecast that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Friday, August 15th were given a dividend of $0.55 per share. The ex-dividend date was Friday, August 15th. This represents a $2.20 annualized dividend and a dividend yield of 0.7%. Cencora's payout ratio is currently 22.63%.

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.

Want to see what other hedge funds are holding COR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cencora, Inc. (NYSE:COR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.