Bank of New York Mellon Corp Has $317.43 Million Holdings in Cencora, Inc. (NYSE:COR)

Bank of New York Mellon Corp reduced its stake in shares of Cencora, Inc. (NYSE:COR - Free Report) by 3.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,141,460 shares of the company's stock after selling 40,254 shares during the period. Bank of New York Mellon Corp owned 0.59% of Cencora worth $317,429,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Hoey Investments Inc. bought a new position in Cencora during the first quarter valued at about $28,000. Banque Transatlantique SA bought a new position in Cencora during the fourth quarter valued at about $29,000. SBI Securities Co. Ltd. bought a new position in Cencora during the fourth quarter valued at about $30,000. Vermillion Wealth Management Inc. bought a new position in Cencora during the fourth quarter valued at about $38,000. Finally, Golden State Wealth Management LLC raised its holdings in Cencora by 157.6% during the first quarter. Golden State Wealth Management LLC now owns 170 shares of the company's stock valued at $47,000 after buying an additional 104 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on COR. Robert W. Baird raised their target price on Cencora from $314.00 to $350.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Wells Fargo & Company upgraded 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. Bank of America lifted their price objective on Cencora from $270.00 to $285.00 and gave the stock a "neutral" rating in a research note on Friday, April 11th. Morgan Stanley set a $288.00 price objective on Cencora in a research note on Tuesday, April 15th. Finally, Wall Street Zen upgraded Cencora from a "hold" rating to a "buy" rating in a research note on Wednesday, March 12th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Cencora currently has an average rating of "Moderate Buy" and an average price target of $306.33.

Cencora Stock Performance

COR traded up $2.10 on Wednesday, hitting $300.13. 762,290 shares of the stock traded hands, compared to its average volume of 1,508,399. Cencora, Inc. has a 52 week low of $218.65 and a 52 week high of $309.35. The company has a current ratio of 0.87, a quick ratio of 0.52 and a debt-to-equity ratio of 6.01. The firm has a market capitalization of $58.17 billion, a PE ratio of 34.82, a P/E/G ratio of 1.48 and a beta of 0.57. The business has a fifty day moving average price of $291.72 and a two-hundred day moving average price of $268.75.

Cencora (NYSE:COR - Get Free Report) last released its quarterly earnings data 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. The company had revenue of $75.50 billion for the quarter, compared to the consensus estimate of $75.41 billion. Cencora had a return on equity of 344.71% and a net margin of 0.55%. The company's quarterly revenue was up 10.3% on a year-over-year basis. During the same period in the previous year, the business earned $3.80 earnings per share. On average, research analysts predict that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 16th were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date was Friday, May 16th. Cencora's payout ratio is 25.52%.

Insider Buying and Selling

In other news, Chairman Steven H. Collis sold 14,579 shares of the business's stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $292.62, for a total value of $4,266,106.98. Following the transaction, the chairman directly owned 311,913 shares of the company's stock, valued at $91,271,982.06. The trade was a 4.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 value of $1,437,680.77. Following the completion of the transaction, the chief executive officer directly owned 47,582 shares in the company, valued at $13,766,900.06. The trade was a 9.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,127 shares of company stock worth $9,812,296 over the last ninety days. Company insiders own 10.80% of the company's stock.

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.