Allspring Global Investments Holdings LLC Has $60.94 Million Holdings in Cencora, Inc. (NYSE:COR)

Allspring Global Investments Holdings LLC reduced its stake in shares of Cencora, Inc. (NYSE:COR - Free Report) by 31.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 219,688 shares of the company's stock after selling 102,404 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.11% of Cencora worth $60,944,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of COR. Hoey Investments Inc. bought a new position in shares of Cencora in the 1st quarter valued at about $28,000. Banque Transatlantique SA bought a new position in Cencora in the fourth quarter valued at approximately $29,000. SBI Securities Co. Ltd. bought a new position in Cencora in the fourth quarter valued at approximately $30,000. Vermillion Wealth Management Inc. acquired a new stake in Cencora during the 4th quarter worth $38,000. Finally, OFI Invest Asset Management bought a new stake in shares of Cencora during the 4th quarter valued at $41,000. Institutional investors and hedge funds own 97.52% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on COR. Wells Fargo & Company raised shares of Cencora from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $274.00 to $337.00 in a research note on Tuesday, June 3rd. UBS Group boosted their price target on shares of Cencora from $298.00 to $335.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Wall Street Zen upgraded shares of Cencora from a "hold" rating to a "buy" rating in a research report on Wednesday, March 12th. Robert W. Baird boosted their target price on Cencora from $314.00 to $350.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Finally, Citigroup increased their price objective on shares of Cencora from $330.00 to $355.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $306.33.

Cencora Price Performance

COR traded up $5.06 on Thursday, hitting $296.23. 614,990 shares of the stock were exchanged, compared to its average volume of 1,500,674. The firm has a market capitalization of $57.42 billion, a price-to-earnings ratio of 34.37, a PEG ratio of 1.46 and a beta of 0.57. The company has a debt-to-equity ratio of 6.01, a current ratio of 0.87 and a quick ratio of 0.52. Cencora, Inc. has a 12 month low of $218.65 and a 12 month high of $309.35. The business has a 50-day moving average of $290.63 and a two-hundred day moving average of $266.30.

Cencora (NYSE:COR - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $4.42 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $75.41 billion. During the same quarter last year, the business posted $3.80 EPS. The firm's revenue for the quarter was up 10.3% on a year-over-year basis. Sell-side analysts forecast that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 16th were paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 0.74%. The ex-dividend date of this dividend was Friday, May 16th. Cencora's payout ratio is 25.52%.

Insider Activity

In other news, Chairman Steven H. Collis sold 14,579 shares of the company's stock in a transaction on Tuesday, June 24th. The shares were 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 directly owned 311,913 shares in the company, valued at approximately $91,271,982.06. This represents a 4.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert P. Mauch sold 4,969 shares of the business's stock in a transaction on 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 sale, the chief executive officer owned 47,582 shares in the company, valued at $13,766,900.06. This represents a 9.46% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,127 shares of company stock valued at $9,812,296. 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.