Richard Bernstein Advisors LLC Has $6.02 Million Position in Cencora, Inc. (NYSE:COR)

Richard Bernstein Advisors LLC reduced its holdings in Cencora, Inc. (NYSE:COR - Free Report) by 5.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 21,654 shares of the company's stock after selling 1,140 shares during the quarter. Richard Bernstein Advisors LLC's holdings in Cencora were worth $6,022,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Hoey Investments Inc. acquired a new stake in Cencora in the 1st quarter worth $28,000. Banque Transatlantique SA acquired a new stake in Cencora during the fourth quarter worth about $29,000. SBI Securities Co. Ltd. acquired a new stake in Cencora during the fourth quarter worth about $30,000. Vermillion Wealth Management Inc. acquired a new stake in shares of Cencora during the 4th quarter worth approximately $38,000. Finally, OFI Invest Asset Management acquired a new stake in shares of Cencora during the 4th quarter worth approximately $41,000. 97.52% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. 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 note on Tuesday, April 29th. Bank of America lifted their target price 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 lifted their target price on shares of Cencora from $314.00 to $350.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Citigroup lifted their price objective on Cencora from $330.00 to $355.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Finally, Morgan Stanley set a $288.00 price objective on Cencora in a report on Tuesday, April 15th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $306.33.

Cencora Trading Down 0.8%

NYSE:COR traded down $2.39 during mid-day trading on Tuesday, hitting $300.11. The company had a trading volume of 314,458 shares, compared to its average volume of 1,502,559. The business's fifty day moving average is $291.41 and its two-hundred day moving average is $268.32. Cencora, Inc. has a fifty-two week low of $218.65 and a fifty-two week high of $309.35. The firm has a market cap of $58.17 billion, a P/E ratio of 34.77, a P/E/G ratio of 1.47 and a beta of 0.57. The company has a debt-to-equity ratio of 6.01, a quick ratio of 0.52 and a current ratio of 0.87.

Cencora (NYSE:COR - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $4.42 earnings per share for the quarter, topping analysts' consensus estimates of $4.07 by $0.35. Cencora had a net margin of 0.55% and a return on equity of 344.71%. The company had revenue of $75.50 billion for the quarter, compared to analysts' expectations of $75.41 billion. During the same period last year, the firm posted $3.80 earnings per share. The business's quarterly revenue was up 10.3% compared to the same quarter last year. As a group, research analysts expect that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 16th were given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date was Friday, May 16th. Cencora's dividend payout ratio (DPR) is currently 25.52%.

Insider Buying and Selling

In other Cencora news, Chairman Steven H. Collis sold 14,579 shares of the company's stock in a transaction that occurred on Tuesday, June 24th. The stock was 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 owned 311,913 shares of the company's stock, valued at $91,271,982.06. This represents a 4.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Robert P. Mauch sold 4,969 shares of the stock in a transaction on 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 transaction, the chief executive officer owned 47,582 shares of the company's stock, valued at $13,766,900.06. The trade was a 9.46% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 34,127 shares of company stock valued at $9,812,296. Insiders own 10.80% of the company's stock.

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.