Cencora, Inc. (NYSE:COR) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its stake in shares of Cencora, Inc. (NYSE:COR - Free Report) by 0.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 317,300 shares of the company's stock after selling 1,101 shares during the period. Principal Financial Group Inc. owned 0.16% of Cencora worth $88,238,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on COR. Morgan Stanley set a $288.00 target price on shares of Cencora in a research report on Tuesday, April 15th. Jefferies Financial Group raised their price objective on Cencora from $275.00 to $300.00 and gave the stock a "hold" rating in a report on Monday, June 30th. Wells Fargo & Company raised Cencora from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $274.00 to $337.00 in a research report on Tuesday, June 3rd. Bank of America increased their target price on Cencora from $270.00 to $285.00 and gave the stock a "neutral" rating in a research report on Friday, April 11th. Finally, UBS Group raised their price target on Cencora from $298.00 to $335.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Cencora has an average rating of "Moderate Buy" and a consensus target price of $306.33.

Insider Transactions at Cencora

In other news, Chairman Steven H. Collis sold 14,579 shares of the stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $292.62, for a total value of $4,266,106.98. Following the completion of the sale, the chairman owned 311,913 shares in the company, valued at approximately $91,271,982.06. This trade represents a 4.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert P. Mauch sold 4,969 shares of the business's stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 47,582 shares in the company, valued at $13,766,900.06. This trade represents a 9.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,127 shares of company stock worth $9,812,296. 10.80% of the stock is currently owned by insiders.

Cencora Stock Up 1.7%

COR opened at $296.23 on Friday. Cencora, Inc. has a 1 year low of $218.65 and a 1 year high of $309.35. The firm has a 50 day moving average price of $291.12 and a 200 day moving average price of $267.23. The company has a debt-to-equity ratio of 6.01, a quick ratio of 0.52 and a current ratio of 0.87. The company has a market cap of $57.42 billion, a PE ratio of 34.37, a price-to-earnings-growth ratio of 1.47 and a beta of 0.57.

Cencora (NYSE:COR - Get Free Report) last released its quarterly earnings data 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. The company had revenue of $75.50 billion during the quarter, compared to analyst estimates of $75.41 billion. Cencora had a net margin of 0.55% and a return on equity of 344.71%. The business's quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.80 earnings per share. Sell-side analysts expect 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. Shareholders of record on Friday, May 16th were given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 0.74%. The ex-dividend date was Friday, May 16th. Cencora's dividend payout ratio (DPR) is presently 25.52%.

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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