Cencora, Inc. (NYSE:COR) Shares Sold by Bank of New York Mellon Corp

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

Several other institutional investors and hedge funds have also made changes to their positions in the business. World Investment Advisors lifted its position in shares of Cencora by 7.5% during the first quarter. World Investment Advisors now owns 20,761 shares of the company's stock worth $5,773,000 after purchasing an additional 1,444 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. bought a new stake in shares of Cencora in the first quarter valued at about $253,000. Wayfinding Financial LLC bought a new stake in shares of Cencora in the first quarter valued at about $67,000. Olde Wealth Management LLC bought a new stake in shares of Cencora in the first quarter valued at about $48,000. Finally, Truist Financial Corp raised its holdings in shares of Cencora by 13.3% in the first quarter. Truist Financial Corp now owns 386,199 shares of the company's stock valued at $107,398,000 after acquiring an additional 45,185 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Cencora 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 completion of the transaction, the chairman directly owned 311,913 shares of the company's stock, valued at approximately $91,271,982.06. The trade was a 4.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 shares were 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 of the company's stock, 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. In the last quarter, insiders sold 34,127 shares of company stock worth $9,812,296. 10.80% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on COR shares. UBS Group boosted 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. Robert W. Baird boosted their target price on shares of Cencora from $314.00 to $350.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Wells Fargo & Company upgraded shares of Cencora from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $274.00 to $337.00 in a report on Tuesday, June 3rd. Jefferies Financial Group boosted their target price on shares of Cencora from $275.00 to $300.00 and gave the stock a "hold" rating in a report on Monday, June 30th. Finally, Citigroup boosted their target price on shares of Cencora from $330.00 to $355.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $306.33.

Cencora Stock Up 2.1%

Shares of COR stock traded up $6.20 during trading hours on Monday, reaching $302.43. 1,597,776 shares of the company's stock were exchanged, compared to its average volume of 1,507,152. Cencora, Inc. has a 1 year low of $218.65 and a 1 year high of $309.35. The stock has a market cap of $58.62 billion, a PE ratio of 35.08, a PEG ratio of 1.47 and a beta of 0.57. 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 stock's fifty day moving average price is $291.12 and its two-hundred day moving average price is $267.80.

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

Cencora Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 16th were given a $0.55 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.20 dividend on an annualized basis and a yield of 0.73%. Cencora's dividend payout ratio is currently 25.52%.

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.