Dakota Wealth Management Sells 1,155 Shares of Cencora, Inc. (NYSE:COR)

Dakota Wealth Management reduced its stake in shares of Cencora, Inc. (NYSE:COR - Free Report) by 2.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,014 shares of the company's stock after selling 1,155 shares during the period. Dakota Wealth Management's holdings in Cencora were worth $10,849,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Cornerstone Planning Group LLC lifted its holdings in Cencora by 106.7% in the 1st quarter. Cornerstone Planning Group LLC now owns 93 shares of the company's stock worth $26,000 after purchasing an additional 48 shares during the last quarter. Hoey Investments Inc. bought a new position in shares of Cencora in the first quarter valued at approximately $28,000. Banque Transatlantique SA acquired a new stake in shares of Cencora in the fourth quarter worth $29,000. Vermillion Wealth Management Inc. acquired a new stake in shares of Cencora in the fourth quarter worth $38,000. Finally, Golden State Wealth Management LLC boosted its holdings in shares of Cencora by 157.6% during the 1st quarter. Golden State Wealth Management LLC now owns 170 shares of the company's stock worth $47,000 after buying an additional 104 shares during the period. Institutional investors and hedge funds own 97.52% of the company's stock.

Cencora Stock Performance

COR stock traded up $1.79 during midday trading on Monday, hitting $297.00. The stock had a trading volume of 918,671 shares, compared to its average volume of 1,637,032. The stock has a 50-day simple moving average of $291.91 and a 200 day simple moving average of $270.29. The firm has a market capitalization of $57.57 billion, a price-to-earnings ratio of 34.45, a P/E/G ratio of 1.46 and a beta of 0.57. Cencora, Inc. has a 52 week low of $218.65 and a 52 week high of $309.35. 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 (NYSE:COR - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $4.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.07 by $0.35. Cencora had a net margin of 0.55% and a return on equity of 344.71%. The firm had revenue of $75.50 billion during the quarter, compared to the consensus estimate of $75.41 billion. During the same period last year, the firm posted $3.80 EPS. The firm's quarterly revenue was up 10.3% on a year-over-year basis. As a group, equities research analysts anticipate that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Dividend Announcement

The business 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. This represents a $2.20 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date was Friday, May 16th. Cencora's dividend payout ratio (DPR) is currently 25.52%.

Analyst Ratings Changes

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

Insider Buying and Selling

In other news, Chairman Steven H. Collis sold 14,579 shares of the company's stock in a transaction that occurred 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 owned 311,913 shares in the company, valued at $91,271,982.06. This represents a 4.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert P. Mauch sold 4,969 shares of the business's stock in a transaction 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 completion of the sale, the chief executive officer directly owned 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. Over the last three months, insiders have sold 34,127 shares of company stock valued at $9,812,296. 10.80% of the stock is owned by company insiders.

Cencora Company 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.