Cencora, Inc. (NYSE:COR) Position Lessened by MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH trimmed its position in shares of Cencora, Inc. (NYSE:COR - Free Report) by 30.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,925 shares of the company's stock after selling 27,242 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings in Cencora were worth $16,943,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Hickory Asset Management Inc. bought a new position in Cencora during the fourth quarter valued at about $572,000. Vontobel Holding Ltd. raised its holdings in Cencora by 46.9% during the fourth quarter. Vontobel Holding Ltd. now owns 6,245 shares of the company's stock valued at $1,403,000 after buying an additional 1,995 shares in the last quarter. Westpac Banking Corp raised its holdings in Cencora by 13.5% during the fourth quarter. Westpac Banking Corp now owns 21,895 shares of the company's stock valued at $4,919,000 after buying an additional 2,596 shares in the last quarter. CIBC Asset Management Inc raised its holdings in Cencora by 3.3% during the fourth quarter. CIBC Asset Management Inc now owns 40,542 shares of the company's stock valued at $9,101,000 after buying an additional 1,305 shares in the last quarter. Finally, Leith Wheeler Investment Counsel Ltd. raised its holdings in Cencora by 5.2% during the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 82,952 shares of the company's stock valued at $18,638,000 after buying an additional 4,126 shares in the last quarter. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Wall Street Zen upgraded Cencora from a "hold" rating to a "buy" rating in a report on Wednesday, March 12th. Morgan Stanley set a $288.00 target price on Cencora in a report on Tuesday, April 15th. Citigroup raised their price target on Cencora from $330.00 to $355.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. UBS Group boosted their price objective on Cencora from $298.00 to $335.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Finally, Bank of America increased their target price on Cencora from $270.00 to $285.00 and gave the company a "neutral" rating in a research note on Friday, April 11th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $306.91.

Cencora Stock Up 0.0%

COR opened at $295.12 on Friday. Cencora, Inc. has a 1-year low of $218.65 and a 1-year high of $309.35. The company has a current ratio of 0.92, a quick ratio of 0.54 and a debt-to-equity ratio of 16.40. The stock has a market capitalization of $57.20 billion, a price-to-earnings ratio of 41.98, a P/E/G ratio of 1.31 and a beta of 0.58. The business has a 50 day moving average of $287.24 and a 200-day moving average of $261.74.

Cencora (NYSE:COR - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $4.42 EPS for the quarter, beating the consensus estimate of $4.07 by $0.35. The firm had revenue of $75.50 billion during the quarter, compared to analysts' expectations of $75.41 billion. Cencora had a return on equity of 328.62% and a net margin of 0.46%. The company's revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.80 EPS. As a group, sell-side analysts anticipate that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 16th were paid a $0.55 dividend. The ex-dividend date was Friday, May 16th. This represents a $2.20 annualized dividend and a dividend yield of 0.75%. Cencora's dividend payout ratio is currently 25.52%.

Insider Activity

In related news, Chairman Steven H. Collis sold 14,579 shares of the stock in a transaction that occurred on Tuesday, April 22nd. The stock was sold at an average price of $281.81, for a total transaction of $4,108,507.99. Following the sale, the chairman now directly owns 315,913 shares in the company, valued at $89,027,442.53. This represents a 4.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Elizabeth S. Campbell sold 4,127 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $268.28, for a total value of $1,107,191.56. Following the sale, the executive vice president now owns 14,665 shares in the company, valued at approximately $3,934,326.20. This trade represents a 21.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 38,253 shares of company stock worth $10,582,297. Company 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.

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