Chevy Chase Trust Holdings LLC Sells 1,514 Shares of Cencora, Inc. (NYSE:COR)

Chevy Chase Trust Holdings LLC trimmed its position in shares of Cencora, Inc. (NYSE:COR - Free Report) by 1.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 91,214 shares of the company's stock after selling 1,514 shares during the period. Chevy Chase Trust Holdings LLC's holdings in Cencora were worth $25,366,000 at the end of the most recent quarter.

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

Cencora Trading Up 1.5%

Shares of Cencora stock traded up $4.38 on Thursday, reaching $296.70. 1,645,496 shares of the company were exchanged, compared to its average volume of 1,517,030. 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 capitalization of $57.51 billion, a price-to-earnings ratio of 34.42, a price-to-earnings-growth ratio of 1.46 and a beta of 0.58. The company has a current ratio of 0.87, a quick ratio of 0.52 and a debt-to-equity ratio of 6.01. The stock has a fifty day moving average price of $289.70 and a 200-day moving average price of $264.56.

Cencora (NYSE:COR - Get Free Report) last posted 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. Cencora had a return on equity of 344.71% and a net margin of 0.55%. The firm had revenue of $75.50 billion for the quarter, compared to the consensus estimate of $75.41 billion. During the same quarter in the previous year, the company earned $3.80 EPS. The business's revenue for the quarter was up 10.3% compared to the same quarter last year. On average, analysts expect that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 0.74%. The ex-dividend date of this dividend was Friday, May 16th. Cencora's payout ratio is 25.52%.

Insider Buying and Selling at Cencora

In other news, CEO Robert P. Mauch sold 4,969 shares of the company's stock in a transaction dated 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 now owns 47,582 shares in the company, valued at $13,766,900.06. This represents a 9.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Steven H. Collis sold 14,579 shares of the business's stock in a transaction that occurred on Tuesday, April 22nd. The shares were sold at an average price of $281.81, for a total transaction of $4,108,507.99. Following the transaction, the chairman now directly owns 315,913 shares in the company, valued at $89,027,442.53. The trade was a 4.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,127 shares of company stock valued at $9,812,296 in the last three months. 10.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on COR shares. Morgan Stanley set a $288.00 price objective on shares of Cencora in a report on Tuesday, April 15th. UBS Group upped 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. Wall Street Zen upgraded shares of Cencora from a "hold" rating to a "buy" rating in a research note on Wednesday, March 12th. Wells Fargo & Company upgraded Cencora from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $274.00 to $337.00 in a research report on Tuesday, June 3rd. Finally, Bank of America lifted their price target on Cencora from $270.00 to $285.00 and gave the company a "neutral" rating in a research report on Friday, April 11th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $306.91.

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.