Diversify Advisory Services LLC Sells 2,354 Shares of Cencora, Inc. (NYSE:COR)

Diversify Advisory Services LLC decreased its holdings in shares of Cencora, Inc. (NYSE:COR - Free Report) by 63.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,332 shares of the company's stock after selling 2,354 shares during the period. Diversify Advisory Services LLC's holdings in Cencora were worth $387,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its position in Cencora by 0.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,859,452 shares of the company's stock worth $1,990,542,000 after purchasing an additional 78,066 shares during the last quarter. Bank of America Corp DE lifted its position in shares of Cencora by 62.3% in the 4th quarter. Bank of America Corp DE now owns 5,193,807 shares of the company's stock valued at $1,166,944,000 after acquiring an additional 1,994,256 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Cencora by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 4,326,064 shares of the company's stock valued at $969,471,000 after acquiring an additional 130,213 shares in the last quarter. Invesco Ltd. lifted its position in shares of Cencora by 20.4% in the 4th quarter. Invesco Ltd. now owns 3,243,531 shares of the company's stock valued at $728,757,000 after acquiring an additional 550,246 shares in the last quarter. Finally, Northern Trust Corp increased its stake in Cencora by 11.6% in the 4th quarter. Northern Trust Corp now owns 2,421,237 shares of the company's stock valued at $544,004,000 after buying an additional 252,028 shares during the period. Institutional investors and hedge funds own 97.52% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on COR. Robert W. Baird increased their price target on shares of Cencora from $314.00 to $350.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Bank of America increased their target price on shares of Cencora from $270.00 to $285.00 and gave the stock a "neutral" rating in a research report on Friday, April 11th. Wells Fargo & Company upgraded shares of Cencora from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $274.00 to $337.00 in a research report on Tuesday, June 3rd. Citigroup raised their price objective on shares of Cencora from $330.00 to $355.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Finally, UBS Group lifted their price target on shares of Cencora from $298.00 to $335.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $309.83.

Cencora Stock Performance

COR stock traded down $3.12 during trading on Thursday, hitting $290.32. 192,996 shares of the company traded hands, compared to its average volume of 1,592,213. 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 stock's 50-day simple moving average is $293.22 and its 200 day simple moving average is $273.46. The company has a market cap of $56.27 billion, a PE ratio of 33.71, a P/E/G ratio of 1.45 and a beta of 0.57. Cencora, Inc. has a 1 year low of $218.65 and a 1 year high of $309.35.

Cencora (NYSE:COR - Get Free Report) last issued 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 for 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% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.80 EPS. On average, equities analysts expect 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 was Friday, May 16th. Cencora's dividend payout ratio is currently 25.52%.

Insider Activity

In related news, Chairman Steven H. Collis sold 14,578 shares of the business's stock in a transaction dated 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 transaction, the chairman owned 309,913 shares in the company, valued at approximately $90,702,237.71. The trade was a 4.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Robert P. Mauch sold 4,968 shares of the stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $294.11, for a total value of $1,461,138.48. Following the sale, the chief executive officer owned 42,351 shares in the company, valued at $12,455,852.61. The trade was a 10.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,125 shares of company stock valued at $9,993,789 in the last ninety days. Company insiders own 10.80% of the company's stock.

About Cencora

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.