DekaBank Deutsche Girozentrale Sells 10,125 Shares of Cencora, Inc. (NYSE:COR)

DekaBank Deutsche Girozentrale lowered its stake in shares of Cencora, Inc. (NYSE:COR - Free Report) by 1.9% during 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 approximately 0.27% of Cencora worth $144,086,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Net Worth Advisory Group lifted its holdings in shares of Cencora by 1.4% during the 1st quarter. Net Worth Advisory Group now owns 2,645 shares of the company's stock valued at $736,000 after purchasing an additional 36 shares in the last quarter. Whittier Trust Co. lifted its holdings in shares of Cencora by 0.6% during the 4th quarter. Whittier Trust Co. now owns 7,856 shares of the company's stock valued at $1,765,000 after purchasing an additional 44 shares in the last quarter. Private Trust Co. NA lifted its holdings in shares of Cencora by 2.5% during the 1st quarter. Private Trust Co. NA now owns 1,933 shares of the company's stock valued at $538,000 after purchasing an additional 47 shares in the last quarter. Permanent Capital Management LP lifted its holdings in shares of Cencora by 4.0% during the 1st quarter. Permanent Capital Management LP now owns 1,238 shares of the company's stock valued at $344,000 after purchasing an additional 48 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its holdings in shares of Cencora by 4.5% during the 1st quarter. Exchange Traded Concepts LLC now owns 1,104 shares of the company's stock valued at $307,000 after purchasing an additional 48 shares in the last quarter. Institutional investors own 97.52% of the company's stock.

Analysts Set New Price Targets

COR has been the topic of several recent analyst reports. 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. Jefferies Financial Group boosted their target price on Cencora from $275.00 to $300.00 and gave the company a "hold" rating in a research note on Monday, June 30th. Morgan Stanley set a $288.00 target price on Cencora in a research note on Tuesday, April 15th. Wells Fargo & Company upgraded Cencora from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $274.00 to $337.00 in a research note on Tuesday, June 3rd. Finally, Robert W. Baird boosted their target price on Cencora from $314.00 to $350.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Cencora has an average rating of "Moderate Buy" and a consensus target price of $306.33.

Insider Buying and Selling

In related news, Chairman Steven H. Collis sold 14,579 shares of the business'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 transaction, the chairman directly owned 311,913 shares of the company's stock, valued at approximately $91,271,982.06. The trade was a 4.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert P. Mauch sold 4,969 shares of the business's stock in a transaction that occurred on 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 directly owned 47,582 shares in the company, valued at $13,766,900.06. The trade was a 9.46% 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 worth $9,812,296 over the last three months. 10.80% of the stock is owned by insiders.

Cencora Stock Down 0.9%

Shares of NYSE:COR traded down $2.83 during trading on Thursday, hitting $297.33. 1,070,918 shares of the company were exchanged, compared to its average volume of 1,506,666. The stock has a market cap of $57.63 billion, a price-to-earnings ratio of 34.49, a P/E/G ratio of 1.48 and a beta of 0.57. Cencora, Inc. has a fifty-two week low of $218.65 and a fifty-two week high of $309.35. The firm has a fifty day moving average price of $291.72 and a two-hundred day moving average price of $268.75. 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 posted its quarterly earnings results 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 for 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 quarter in the previous year, the firm earned $3.80 EPS. As a group, research analysts anticipate that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors 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 dividend yield of 0.74%. The ex-dividend date of this dividend was Friday, May 16th. Cencora's payout ratio is presently 25.52%.

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.