DekaBank Deutsche Girozentrale Cuts Stock Position in Cencora, Inc. (NYSE:COR)

DekaBank Deutsche Girozentrale reduced its holdings in shares of Cencora, Inc. (NYSE:COR - Free Report) by 1.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 532,888 shares of the company's stock after selling 10,125 shares during the period. DekaBank Deutsche Girozentrale owned about 0.27% of Cencora worth $144,086,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Hoey Investments Inc. bought a new position in shares of Cencora in the first quarter worth approximately $28,000. Banque Transatlantique SA bought a new position in shares of Cencora in the fourth quarter worth approximately $29,000. SBI Securities Co. Ltd. bought a new position in shares of Cencora in the fourth quarter worth approximately $30,000. Vermillion Wealth Management Inc. bought a new position in shares of Cencora in the fourth quarter worth approximately $38,000. Finally, Golden State Wealth Management LLC boosted its position in shares of Cencora by 157.6% in the first quarter. Golden State Wealth Management LLC now owns 170 shares of the company's stock worth $47,000 after purchasing an additional 104 shares during the period. 97.52% of the stock is owned by hedge funds and other institutional investors.

Cencora Price Performance

COR stock traded down $2.06 during trading on Friday, hitting $295.27. 266,865 shares of the company's stock traded hands, compared to its average volume of 1,636,797. Cencora, Inc. has a 52 week low of $218.65 and a 52 week high of $309.35. The company has a debt-to-equity ratio of 6.01, a quick ratio of 0.52 and a current ratio of 0.87. The business has a fifty day simple moving average of $291.85 and a 200 day simple moving average of $269.23. The stock has a market capitalization of $57.23 billion, a price-to-earnings ratio of 34.25, a P/E/G ratio of 1.49 and a beta of 0.57.

Cencora (NYSE:COR - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $4.42 EPS for the quarter, beating the consensus estimate of $4.07 by $0.35. The business had revenue of $75.50 billion during the quarter, compared to analyst estimates of $75.41 billion. Cencora had a net margin of 0.55% and a return on equity of 344.71%. Cencora's quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the business earned $3.80 earnings per share. As a group, research 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. This represents a $2.20 annualized dividend and a yield of 0.75%. The ex-dividend date was Friday, May 16th. Cencora's payout ratio is 25.52%.

Analyst Ratings Changes

A number of research firms have weighed in on COR. Citigroup upped their price target on shares of Cencora from $330.00 to $355.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Morgan Stanley set a $288.00 price target on shares of Cencora in a research report on Tuesday, April 15th. Robert W. Baird upped their target price on shares of Cencora from $314.00 to $350.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Wells Fargo & Company upgraded shares of 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, UBS Group upped their target price on shares of Cencora from $298.00 to $335.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $306.33.

Insider Activity

In other news, CEO Robert P. Mauch sold 4,969 shares of the firm's stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $289.33, for a total value of $1,437,680.77. Following the sale, the chief executive officer directly owned 47,582 shares in the company, valued at approximately $13,766,900.06. This trade represents a 9.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Steven H. Collis sold 14,579 shares of Cencora 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 sale, the chairman owned 311,913 shares of the company's stock, valued at $91,271,982.06. This trade represents a 4.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,127 shares of company stock worth $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.