Sumitomo Mitsui Trust Group Inc. cut its stake in Cencora, Inc. (NYSE:COR - Free Report) by 0.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,012,412 shares of the company's stock after selling 9,477 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.52% of Cencora worth $281,542,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of COR. Net Worth Advisory Group raised its position in Cencora by 1.4% in the 1st quarter. Net Worth Advisory Group now owns 2,645 shares of the company's stock valued at $736,000 after purchasing an additional 36 shares during the last quarter. Whittier Trust Co. raised its position in Cencora by 0.6% in the 4th quarter. Whittier Trust Co. now owns 7,856 shares of the company's stock valued at $1,765,000 after purchasing an additional 44 shares during the last quarter. Cullen Frost Bankers Inc. raised its position in Cencora by 1.1% in the 4th quarter. Cullen Frost Bankers Inc. now owns 4,463 shares of the company's stock valued at $1,003,000 after purchasing an additional 47 shares during the last quarter. Permanent Capital Management LP raised its position in Cencora by 4.0% in the 1st quarter. Permanent Capital Management LP now owns 1,238 shares of the company's stock valued at $344,000 after purchasing an additional 48 shares during the last quarter. Finally, Exchange Traded Concepts LLC raised its position in Cencora by 4.5% in the 1st quarter. Exchange Traded Concepts LLC now owns 1,104 shares of the company's stock valued at $307,000 after purchasing an additional 48 shares during the last quarter. 97.52% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Cencora
In other Cencora news, Chairman Steven H. Collis sold 14,579 shares of the firm's stock in a transaction dated 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 sale, the chairman now directly owns 311,913 shares of the company's stock, valued at $91,271,982.06. This trade represents a 4.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert P. Mauch sold 4,969 shares of the firm's stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $289.33, for a total transaction of $1,437,680.77. Following the sale, the chief executive officer now directly owns 47,582 shares in the company, valued at $13,766,900.06. This represents a 9.46% decrease in their ownership of the stock. 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.
Analyst Ratings Changes
Several analysts recently commented on COR shares. Bank of America upped their price target on shares of Cencora from $270.00 to $285.00 and gave the company a "neutral" rating in a research report on Friday, April 11th. Robert W. Baird upped their price objective on shares of Cencora from $314.00 to $350.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Wall Street Zen upgraded shares of Cencora from a "hold" rating to a "buy" rating in a research report on Wednesday, March 12th. Wells Fargo & Company upgraded shares of Cencora from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $274.00 to $337.00 in a research report on Tuesday, June 3rd. Finally, Morgan Stanley set a $288.00 price objective on shares of Cencora in a research report on Tuesday, April 15th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $306.91.
Check Out Our Latest Analysis on COR
Cencora Stock Performance
Shares of COR opened at $299.71 on Friday. The company has a 50-day simple moving average of $289.95 and a 200-day simple moving average of $264.99. The company has a quick ratio of 0.52, a current ratio of 0.87 and a debt-to-equity ratio of 6.01. The company has a market capitalization of $58.09 billion, a PE ratio of 34.77, a P/E/G ratio of 1.47 and a beta of 0.58. Cencora, Inc. has a 52-week low of $218.65 and a 52-week high of $309.35.
Cencora (NYSE:COR - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $4.42 EPS for the quarter, beating analysts' consensus estimates of $4.07 by $0.35. The firm had revenue of $75.50 billion for the quarter, compared to analysts' expectations of $75.41 billion. Cencora had a net margin of 0.55% and a return on equity of 344.71%. The firm's revenue was up 10.3% on a year-over-year basis. During the same period in the prior year, the company earned $3.80 EPS. Equities research analysts predict that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.
Cencora Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors 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 dividend on an annualized basis and a yield of 0.73%. Cencora's payout ratio is 25.52%.
About Cencora
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding COR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cencora, Inc. (NYSE:COR - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Cencora, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Cencora wasn't on the list.
While Cencora currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Almost everyone loves strong dividend-paying stocks, but high yields can signal danger. Discover 20 high-yield dividend stocks paying an unsustainably large percentage of their earnings. Enter your email to get this report and avoid a high-yield dividend trap.
Get This Free Report
