Cencora, Inc. (NYSE:COR) Stock Position Raised by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its holdings in shares of Cencora, Inc. (NYSE:COR - Free Report) by 1.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 599,367 shares of the company's stock after acquiring an additional 10,295 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.31% of Cencora worth $166,678,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Jones Financial Companies Lllp boosted its position in shares of Cencora by 212.4% in the 4th quarter. Jones Financial Companies Lllp now owns 2,390 shares of the company's stock valued at $537,000 after purchasing an additional 1,625 shares during the period. SBI Securities Co. Ltd. acquired a new stake in Cencora during the 4th quarter worth approximately $30,000. Proficio Capital Partners LLC purchased a new position in shares of Cencora during the 4th quarter worth approximately $31,936,000. OFI Invest Asset Management purchased a new position in shares of Cencora during the 4th quarter worth approximately $41,000. Finally, Daiwa Securities Group Inc. increased its stake in Cencora by 31.3% in the 4th quarter. Daiwa Securities Group Inc. now owns 30,106 shares of the company's stock valued at $6,764,000 after purchasing an additional 7,171 shares in the last quarter. 97.52% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Cencora news, CEO Robert P. Mauch sold 4,969 shares of the firm's stock in a transaction dated Monday, April 21st. The stock was 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 approximately $13,766,900.06. This trade represents a 9.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Steven H. Collis sold 14,579 shares of the firm's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $292.62, for a total value of $4,266,106.98. Following the sale, the chairman owned 311,913 shares of the company's stock, valued at $91,271,982.06. The trade was a 4.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,127 shares of company stock valued at $9,812,296 in the last quarter. 10.80% of the stock is currently owned by corporate insiders.

Cencora Stock Performance

Shares of COR traded down $2.67 during trading hours on Thursday, reaching $297.49. 208,361 shares of the company's stock traded hands, compared to its average volume of 1,640,306. The firm has a market capitalization of $57.66 billion, a price-to-earnings ratio of 34.51, a P/E/G ratio of 1.48 and a beta of 0.57. The company has a debt-to-equity ratio of 6.01, a current ratio of 0.87 and a quick ratio of 0.52. Cencora, Inc. has a twelve month low of $218.65 and a twelve month high of $309.35. The business's fifty day simple moving average is $291.72 and its two-hundred day simple moving average is $268.75.

Cencora (NYSE:COR - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $4.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 analyst estimates of $75.41 billion. During the same period in the previous year, the company earned $3.80 earnings per share. Cencora's revenue was up 10.3% compared to the same quarter last year. Analysts predict that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 16th were given a $0.55 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.74%. Cencora's dividend payout ratio (DPR) is 25.52%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Morgan Stanley set a $288.00 target price on Cencora in a report on Tuesday, April 15th. 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 note 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. Robert W. Baird increased 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. Finally, Wall Street Zen raised Cencora from a "hold" rating to a "buy" rating in a research report on Wednesday, March 12th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $306.33.

Cencora 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.