Cencora, Inc. $COR Shares Sold by Truist Financial Corp

Key Points

• Truist Financial trimmed its Cencora stake by 5.9% in Q4, selling 23,636 shares and finishing with 378,721 shares (0.20% of the company) valued at about $127.9 million, while other major institutions (Vanguard, State Street, JPMorgan) generally added to positions and institutional investors own 97.52% of the stock.
• Results and outlook: Cencora reported Q4 EPS of $4.08 (beat by $0.04) with revenue up 5.5% YoY but slightly below estimates, has a $59.17 billion market cap and a P/E of 36.56, pays a $0.60 quarterly dividend (0.8% yield), and holds a consensus analyst rating of "Moderate Buy" with an average target of $398.17.

Truist Financial Corp lessened its holdings in Cencora, Inc. (NYSE:COR - Free Report) by 5.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 378,721 shares of the company's stock after selling 23,636 shares during the quarter. Truist Financial Corp owned 0.20% of Cencora worth $127,913,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Cencora by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 23,617,117 shares of the company's stock valued at $7,976,681,000 after purchasing an additional 221,570 shares in the last quarter. State Street Corp boosted its holdings in Cencora by 9.3% in the 3rd quarter. State Street Corp now owns 9,190,316 shares of the company's stock valued at $2,872,249,000 after purchasing an additional 782,911 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Cencora by 21.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,677,797 shares of the company's stock valued at $1,461,965,000 after purchasing an additional 821,098 shares in the last quarter. Boston Partners boosted its holdings in Cencora by 2.0% in the 3rd quarter. Boston Partners now owns 4,509,165 shares of the company's stock valued at $1,409,152,000 after purchasing an additional 89,506 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in Cencora by 3.0% in the 3rd quarter. Wellington Management Group LLP now owns 3,971,121 shares of the company's stock valued at $1,241,094,000 after purchasing an additional 115,278 shares in the last quarter. Hedge funds and other institutional investors own 97.52% of the company's stock.

Cencora Stock Up 0.1%

COR opened at $304.18 on Monday. The business's fifty day moving average is $333.36 and its two-hundred day moving average is $343.31. The company has a debt-to-equity ratio of 3.62, a quick ratio of 0.51 and a current ratio of 0.92. The company has a market cap of $59.17 billion, a price-to-earnings ratio of 36.56, a PEG ratio of 1.42 and a beta of 0.64. Cencora, Inc. has a one year low of $271.00 and a one year high of $377.54.

Cencora (NYSE:COR - Get Free Report) last posted its 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 company had revenue of $85.93 billion for the quarter, compared to the consensus estimate of $86.12 billion. Cencora had a return on equity of 176.54% and a net margin of 0.50%.Cencora's quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the business earned $3.73 earnings per share. Analysts anticipate that Cencora, Inc. will post 17.56 EPS for the current fiscal year.

Cencora Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Friday, February 13th were given a dividend of $0.60 per share. 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%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on COR shares. Robert W. Baird set a $415.00 price objective on Cencora in a report on Tuesday, January 13th. JPMorgan Chase & Co. lifted their price objective on Cencora from $417.00 to $419.00 and gave the company an "overweight" rating in a report on Tuesday, February 10th. William Blair started coverage on Cencora in a report on Tuesday, April 28th. They issued a "market perform" rating on the stock. Bank of America lowered their price objective on Cencora from $380.00 to $360.00 and set a "neutral" rating on the stock in a report on Monday, January 5th. Finally, Morgan Stanley set a $380.00 price objective on Cencora in a report on Tuesday, March 17th. Twelve analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Cencora currently has a consensus rating of "Moderate Buy" and an average target price of $398.17.

Cencora Company Profile

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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