USS Investment Management Ltd Trims Stock Holdings in Cencora, Inc. (NYSE:COR)

USS Investment Management Ltd lowered its position in Cencora, Inc. (NYSE:COR - Free Report) by 16.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 40,787 shares of the company's stock after selling 7,842 shares during the period. USS Investment Management Ltd's holdings in Cencora were worth $9,166,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Hickory Asset Management Inc. purchased a new position in shares of Cencora during the fourth quarter worth $572,000. Sylvest Advisors LLC purchased a new position in shares of Cencora during the 4th quarter valued at about $1,105,000. Vontobel Holding Ltd. lifted its holdings in shares of Cencora by 46.9% in the 4th 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 during the period. Milestone Asset Management LLC lifted its holdings in shares of Cencora by 430.2% in the 4th quarter. Milestone Asset Management LLC now owns 5,461 shares of the company's stock valued at $1,227,000 after buying an additional 4,431 shares during the period. Finally, Portfolio Design Labs LLC boosted its stake in shares of Cencora by 76.9% in the fourth quarter. Portfolio Design Labs LLC now owns 11,032 shares of the company's stock worth $2,479,000 after buying an additional 4,794 shares during the last quarter. Institutional investors and hedge funds own 97.52% of the company's stock.

Insider Buying and Selling

In other news, CEO Robert P. Mauch sold 4,969 shares of Cencora stock in a transaction that occurred on Monday, April 21st. The shares were 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 owns 47,582 shares of the company's stock, valued at approximately $13,766,900.06. The trade was a 9.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Lazarus Krikorian sold 2,000 shares of the company's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $260.06, for a total value of $520,120.00. Following the completion of the transaction, the chief accounting officer now owns 20,154 shares in the company, valued at $5,241,249.24. This represents a 9.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 45,223 shares of company stock worth $12,369,767. 10.80% of the stock is owned by corporate insiders.

Cencora Price Performance

Shares of NYSE:COR traded up $0.65 during trading on Tuesday, reaching $293.00. The stock had a trading volume of 444,945 shares, compared to its average volume of 1,541,953. The company has a debt-to-equity ratio of 16.40, a quick ratio of 0.54 and a current ratio of 0.92. Cencora, Inc. has a 1-year low of $214.77 and a 1-year high of $309.35. The stock has a market cap of $56.79 billion, a PE ratio of 41.65, a PEG ratio of 1.31 and a beta of 0.60. The business has a fifty day moving average price of $282.95 and a 200-day moving average price of $257.50.

Cencora (NYSE:COR - Get Free Report) last announced its 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. The company had revenue of $75.50 billion for the quarter, compared to analysts' expectations of $75.41 billion. Cencora had a net margin of 0.46% and a return on equity of 328.62%. The firm's quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.80 EPS. On average, equities analysts forecast that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Friday, May 16th will be issued a $0.55 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.20 annualized dividend and a dividend yield of 0.75%. Cencora's dividend payout ratio is presently 25.52%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Wells Fargo & Company boosted their price target on Cencora from $251.00 to $274.00 and gave the company an "equal weight" rating in a report on Friday, March 14th. Evercore ISI increased their price target on shares of Cencora from $270.00 to $280.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. Wall Street Zen upgraded shares of Cencora from a "hold" rating to a "buy" rating in a research report on Wednesday, March 12th. Morgan Stanley set a $288.00 price objective on shares of Cencora in a report on Tuesday, April 15th. Finally, 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 note on Friday, April 11th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Cencora has a consensus rating of "Moderate Buy" and a consensus price target of $301.18.

Cencora 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.