Cencora, Inc. $COR Shares Sold by Comerica Bank

Key Points

• Comerica Bank cut its stake in Cencora by 36.6% in Q4, selling 30,650 shares and leaving it with 53,135 shares valued at about $17.95 million; institutional investors now own 97.52% of the stock.
• Analysts have a consensus rating of “Moderate Buy” (12 Buys, 2 Holds) with a consensus target of $398.17, implying notable upside from the recent ~$310 share price.
• Cencora reported Q results with EPS of $4.08 (beat by $0.04) and revenue of $85.93B (up 5.5% YoY), and pays a quarterly dividend of $0.60 (annualized $2.40, yield ~0.8%).

Comerica Bank decreased its stake in Cencora, Inc. (NYSE:COR - Free Report) by 36.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 53,135 shares of the company's stock after selling 30,650 shares during the period. Comerica Bank's holdings in Cencora were worth $17,946,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vestcor Inc lifted its stake in shares of Cencora by 0.5% in the third quarter. Vestcor Inc now owns 5,196 shares of the company's stock valued at $1,624,000 after purchasing an additional 28 shares during the period. JFS Wealth Advisors LLC lifted its stake in shares of Cencora by 30.2% in the fourth quarter. JFS Wealth Advisors LLC now owns 125 shares of the company's stock valued at $42,000 after purchasing an additional 29 shares during the period. Cornerstone Wealth Group LLC lifted its stake in shares of Cencora by 1.3% in the third quarter. Cornerstone Wealth Group LLC now owns 2,383 shares of the company's stock valued at $745,000 after purchasing an additional 30 shares during the period. Apollon Wealth Management LLC lifted its stake in shares of Cencora by 0.5% in the fourth quarter. Apollon Wealth Management LLC now owns 6,527 shares of the company's stock valued at $2,205,000 after purchasing an additional 30 shares during the period. Finally, Vermillion & White Wealth Management Group LLC lifted its stake in shares of Cencora by 31.4% in the third quarter. Vermillion & White Wealth Management Group LLC now owns 138 shares of the company's stock valued at $43,000 after purchasing an additional 33 shares during the period. Institutional investors and hedge funds own 97.52% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Morgan Stanley set a $380.00 price objective on shares of Cencora in a research note on Tuesday, March 17th. Leerink Partners reiterated an "outperform" rating on shares of Cencora in a research note on Tuesday, March 17th. Robert W. Baird set a $415.00 target price on shares of Cencora in a research report on Tuesday, January 13th. Bank of America cut their target price on shares of Cencora from $380.00 to $360.00 and set a "neutral" rating for the company in a research report on Monday, January 5th. Finally, Jefferies Financial Group upgraded shares of Cencora from an "underperform" rating to a "buy" rating in a research report on Thursday, January 22nd. Twelve analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $398.17.

Cencora Stock Performance

Shares of NYSE COR opened at $310.48 on Tuesday. The company has a market cap of $60.40 billion, a PE ratio of 37.32, a price-to-earnings-growth ratio of 1.44 and a beta of 0.72. Cencora, Inc. has a 12 month low of $271.00 and a 12 month high of $377.54. The company has a debt-to-equity ratio of 3.62, a current ratio of 0.92 and a quick ratio of 0.51. The company has a 50-day simple moving average of $336.33 and a 200-day simple moving average of $343.47.

Cencora (NYSE:COR - Get Free Report) last issued its quarterly earnings results on Wednesday, February 4th. The company reported $4.08 EPS for the quarter, topping analysts' consensus estimates of $4.04 by $0.04. The business had revenue of $85.93 billion during the quarter, compared to the consensus estimate of $86.12 billion. Cencora had a net margin of 0.50% and a return on equity of 176.54%. The company's quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.73 earnings per share. On average, equities analysts anticipate that Cencora, Inc. will post 17.57 earnings per share for the current year.

Cencora Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Friday, February 13th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Friday, February 13th. Cencora's payout ratio is presently 28.85%.

About Cencora

Cencora NYSE: COR is a global healthcare services and pharmaceutical distribution company that provides end-to-end solutions across the pharmaceutical supply chain. The company's core activities include wholesale drug distribution, specialty drug distribution, and the operation of specialty pharmacies, complemented by logistics, cold-chain management and other fulfillment services designed to support complex and temperature-sensitive therapies.

Beyond physical distribution, Cencora offers a range of commercial and patient-focused services for pharmaceutical manufacturers and healthcare providers.

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