Cencora, Inc. (NYSE:COR) is Cornerstone Investment Partners LLC's 2nd Largest Position

Cornerstone Investment Partners LLC raised its position in Cencora, Inc. (NYSE:COR - Free Report) by 0.7% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 346,329 shares of the company's stock after purchasing an additional 2,318 shares during the period. Cencora accounts for approximately 4.7% of Cornerstone Investment Partners LLC's portfolio, making the stock its 2nd biggest holding. Cornerstone Investment Partners LLC owned approximately 0.18% of Cencora worth $96,311,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC lifted its stake in Cencora by 4.5% during the first quarter. Exchange Traded Concepts LLC now owns 1,104 shares of the company's stock worth $307,000 after purchasing an additional 48 shares during the last quarter. Dynamic Advisor Solutions LLC raised its stake in shares of Cencora by 6.4% during the first quarter. Dynamic Advisor Solutions LLC now owns 1,535 shares of the company's stock worth $427,000 after purchasing an additional 93 shares during the last quarter. GAMMA Investing LLC grew its holdings in Cencora by 57.0% during the first quarter. GAMMA Investing LLC now owns 5,748 shares of the company's stock worth $1,598,000 after acquiring an additional 2,087 shares during the period. Westpac Banking Corp grew its holdings in Cencora by 13.5% during the fourth quarter. Westpac Banking Corp now owns 21,895 shares of the company's stock worth $4,919,000 after acquiring an additional 2,596 shares during the period. Finally, Golden State Wealth Management LLC grew its holdings in Cencora by 157.6% during the first quarter. Golden State Wealth Management LLC now owns 170 shares of the company's stock worth $47,000 after acquiring an additional 104 shares during the period. Hedge funds and other institutional investors own 97.52% of the company's stock.

Cencora Trading Down 0.8%

NYSE:COR traded down $2.25 during trading hours on Friday, hitting $295.07. 970,795 shares of the company were exchanged, compared to its average volume of 1,512,862. The stock has a market capitalization of $57.19 billion, a price-to-earnings ratio of 34.23, a price-to-earnings-growth ratio of 1.46 and a beta of 0.57. The company has a current ratio of 0.87, a quick ratio of 0.52 and a debt-to-equity ratio of 6.01. Cencora, Inc. has a one year low of $218.65 and a one year high of $309.35. The company has a fifty day simple moving average of $291.91 and a 200 day simple moving average of $270.29.

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

Cencora Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 16th were issued a dividend of $0.55 per share. The ex-dividend date was Friday, May 16th. This represents a $2.20 dividend on an annualized basis and a yield of 0.75%. Cencora's payout ratio is 25.52%.

Analyst Ratings Changes

COR has been the topic of several research reports. Bank of America upped their target price on Cencora from $270.00 to $285.00 and gave the company a "neutral" rating in a report on Friday, April 11th. Morgan Stanley set a $288.00 price objective on Cencora in a research note on Tuesday, April 15th. Jefferies Financial Group boosted their price target on Cencora from $275.00 to $300.00 and gave the stock a "hold" rating in a research report on Monday, June 30th. Citigroup lifted their price objective on Cencora from $330.00 to $355.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Finally, Robert W. Baird lifted their price objective on Cencora from $314.00 to $350.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $306.33.

Insider Buying and Selling at Cencora

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

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.