Burney Co. Lowers Stake in Cencora, Inc. (NYSE:COR)

Burney Co. reduced its stake in Cencora, Inc. (NYSE:COR - Free Report) by 11.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 110,742 shares of the company's stock after selling 14,255 shares during the quarter. Cencora accounts for 1.1% of Burney Co.'s investment portfolio, making the stock its 14th biggest holding. Burney Co. owned about 0.06% of Cencora worth $30,796,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Wakefield Asset Management LLLP grew its stake in shares of Cencora by 2.2% in the 1st quarter. Wakefield Asset Management LLLP now owns 7,927 shares of the company's stock valued at $2,204,000 after purchasing an additional 169 shares during the last quarter. Advisors Preferred LLC purchased a new position in shares of Cencora in the 1st quarter valued at approximately $725,000. Close Asset Management Ltd purchased a new position in shares of Cencora in the 1st quarter valued at approximately $110,629,000. United Bank grew its stake in shares of Cencora by 3.7% in the 1st quarter. United Bank now owns 6,727 shares of the company's stock valued at $1,871,000 after purchasing an additional 240 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Cencora in the 1st quarter valued at approximately $753,000. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Chairman Steven H. Collis sold 14,578 shares of Cencora stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $292.67, for a total value of $4,266,543.26. Following the completion of the sale, the chairman owned 309,913 shares of the company's stock, valued at $90,702,237.71. The trade was a 4.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert P. Mauch sold 4,968 shares of Cencora stock in a transaction on Friday, July 18th. The shares were sold at an average price of $294.11, for a total value of $1,461,138.48. Following the completion of the sale, the chief executive officer directly owned 42,351 shares of the company's stock, valued at approximately $12,455,852.61. This represents a 10.50% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,125 shares of company stock valued at $9,993,789. Company insiders own 10.80% of the company's stock.

Cencora Price Performance

Cencora stock traded down $0.28 during mid-day trading on Friday, hitting $290.17. 785,267 shares of the company were exchanged, compared to its average volume of 1,072,635. 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 business's 50 day simple moving average is $293.31 and its two-hundred day simple moving average is $274.27. The company has a market capitalization of $56.24 billion, a P/E ratio of 33.66, a PEG ratio of 1.44 and a beta of 0.57. Cencora, Inc. has a 12-month low of $218.65 and a 12-month high of $309.35.

Cencora (NYSE:COR - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $4.42 earnings per share for the quarter, topping the consensus estimate of $4.07 by $0.35. The company 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%. Cencora's revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the business posted $3.80 earnings per share. Analysts forecast that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 16th were given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend was Friday, May 16th. Cencora's dividend payout ratio is currently 25.52%.

Analyst Ratings Changes

Several research firms have recently commented on COR. Robert W. Baird raised their price target on Cencora from $314.00 to $350.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. UBS Group raised their price target on Cencora from $298.00 to $335.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Bank of America lifted their price objective on Cencora from $270.00 to $285.00 and gave the stock a "neutral" rating in a report on Friday, April 11th. Morgan Stanley set a $330.00 price objective on Cencora and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. Finally, Citigroup lifted their price objective on Cencora from $330.00 to $355.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $309.83.

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.