Cencora, Inc. (NYSE:COR) Shares Sold by Bessemer Group Inc.

Bessemer Group Inc. cut its stake in Cencora, Inc. (NYSE:COR - Free Report) by 0.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,167,805 shares of the company's stock after selling 6,980 shares during the period. Cencora comprises about 1.1% of Bessemer Group Inc.'s holdings, making the stock its 15th largest holding. Bessemer Group Inc. owned about 1.12% of Cencora worth $602,846,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD raised its stake in Cencora by 0.9% in 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 in the last quarter. Bank of America Corp DE boosted its holdings in Cencora by 62.3% in 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 purchasing an additional 1,994,256 shares in the last quarter. Boston Partners raised its holdings in Cencora by 2.6% during the fourth quarter. Boston Partners now owns 5,007,100 shares of the company's stock worth $1,128,058,000 after purchasing an additional 125,611 shares in the last quarter. Geode Capital Management LLC boosted 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 buying an additional 130,213 shares in the last quarter. Finally, Invesco Ltd. lifted its position in Cencora by 20.4% in the fourth quarter. Invesco Ltd. now owns 3,243,531 shares of the company's stock valued at $728,757,000 after acquiring an additional 550,246 shares during the last quarter. 97.52% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Cencora news, Chairman Steven H. Collis sold 14,579 shares of Cencora stock in a transaction that occurred on Tuesday, April 22nd. The shares were sold at an average price of $281.81, for a total value of $4,108,507.99. Following the completion of the sale, the chairman now directly owns 315,913 shares of the company's stock, valued at approximately $89,027,442.53. The trade was a 4.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 completion of 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 represents a 9.46% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,127 shares of company stock valued at $9,812,296 over the last 90 days. Insiders own 10.80% of the company's stock.

Cencora Price Performance

Cencora stock traded up $4.38 during mid-day trading on Thursday, reaching $296.70. The company had a trading volume of 1,645,496 shares, compared to its average volume of 1,518,180. The stock's 50-day simple moving average is $289.70 and its 200-day simple moving average is $264.56. Cencora, Inc. has a 1 year low of $218.65 and a 1 year high of $309.35. The company has a debt-to-equity ratio of 6.01, a current ratio of 0.87 and a quick ratio of 0.52. The company has a market capitalization of $57.51 billion, a P/E ratio of 34.42, a P/E/G ratio of 1.45 and a beta of 0.58.

Cencora (NYSE:COR - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $4.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.07 by $0.35. The firm had revenue of $75.50 billion during 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.80 EPS. On average, equities analysts predict that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 16th were issued a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.74%. Cencora's dividend payout ratio (DPR) is presently 25.52%.

Wall Street Analysts Forecast Growth

COR has been the topic of a number of recent research reports. Robert W. Baird lifted their target price 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 upgraded shares of Cencora from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $274.00 to $337.00 in a research note on Tuesday, June 3rd. Wall Street Zen upgraded Cencora from a "hold" rating to a "buy" rating in a research report on Wednesday, March 12th. Bank of America increased their price objective on Cencora from $270.00 to $285.00 and gave the stock a "neutral" rating in a research report on Friday, April 11th. Finally, UBS Group boosted their target price on Cencora from $298.00 to $335.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat.com, Cencora currently has an average rating of "Moderate Buy" and a consensus price target of $306.91.

Cencora Company 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.