Brown Advisory Inc. Sells 91,783 Shares of Cencora, Inc. (NYSE:COR)

Brown Advisory Inc. reduced its holdings in Cencora, Inc. (NYSE:COR - Free Report) by 95.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,720 shares of the company's stock after selling 91,783 shares during the quarter. Brown Advisory Inc.'s holdings in Cencora were worth $1,313,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Hoey Investments Inc. acquired a new position in shares of Cencora in the 1st quarter worth approximately $28,000. Banque Transatlantique SA acquired a new position in Cencora during the 4th quarter worth $29,000. Vermillion Wealth Management Inc. acquired a new position in Cencora during the 4th quarter worth $38,000. Golden State Wealth Management LLC lifted its holdings in Cencora by 157.6% during the 1st quarter. Golden State Wealth Management LLC now owns 170 shares of the company's stock worth $47,000 after buying an additional 104 shares in the last quarter. Finally, Olde Wealth Management LLC acquired a new position in Cencora during the 1st quarter worth $48,000. 97.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Jefferies Financial Group upped their price objective on Cencora from $275.00 to $300.00 and gave the stock a "hold" rating in a report on Monday, June 30th. UBS Group upped their price objective on Cencora from $298.00 to $335.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Citigroup upped their target price on shares of Cencora from $330.00 to $355.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Wells Fargo & Company raised Cencora from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $274.00 to $337.00 in a research note on Tuesday, June 3rd. Finally, Robert W. Baird increased their price target on Cencora from $314.00 to $350.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $306.33.

Cencora Trading Down 0.8%

Shares of COR traded down $2.42 during trading hours on Tuesday, reaching $294.64. The stock had a trading volume of 916,400 shares, compared to its average volume of 1,506,655. The company has a quick ratio of 0.52, a current ratio of 0.87 and a debt-to-equity ratio of 6.01. Cencora, Inc. has a 52 week low of $218.65 and a 52 week high of $309.35. The firm has a 50-day moving average of $292.09 and a 200 day moving average of $270.94. The company has a market cap of $57.11 billion, a P/E ratio of 34.18, a P/E/G ratio of 1.47 and a beta of 0.57.

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

Cencora Dividend Announcement

The company also recently announced 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 0.75%. The ex-dividend date was Friday, May 16th. Cencora's dividend payout ratio (DPR) is presently 25.52%.

Insider Transactions at Cencora

In other Cencora news, Chairman Steven H. Collis sold 14,579 shares of the stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $292.62, for a total transaction of $4,266,106.98. Following the completion of the transaction, the chairman owned 311,913 shares in the company, valued at approximately $91,271,982.06. This represents a 4.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert P. Mauch sold 4,969 shares of the stock in a transaction dated 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 transaction, the chief executive officer owned 47,582 shares of the company's stock, valued at approximately $13,766,900.06. This trade represents a 9.46% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,127 shares of company stock valued at $9,812,296. Corporate insiders own 10.80% of the company's stock.

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.