Envestnet Asset Management Inc. Has $166.68 Million Stock Position in Cencora, Inc. (NYSE:COR)

Envestnet Asset Management Inc. grew its holdings in Cencora, Inc. (NYSE:COR - Free Report) by 1.7% in the first 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 buying an additional 10,295 shares during the quarter. Envestnet Asset Management Inc. owned 0.31% of Cencora worth $166,678,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in COR. Norges Bank acquired a new position in shares of Cencora in the 4th quarter valued at $478,309,000. Bank of America Corp DE raised its stake in shares of Cencora by 62.3% in the 4th quarter. Bank of America Corp DE now owns 5,193,807 shares of the company's stock valued at $1,166,944,000 after buying an additional 1,994,256 shares in the last quarter. Castlekeep Investment Advisors LLC acquired a new position in shares of Cencora in the 4th quarter valued at $399,508,000. GAMMA Investing LLC raised its stake in shares of Cencora by 43,561.9% in the 1st quarter. GAMMA Investing LLC now owns 1,598,461 shares of the company's stock valued at $444,516,000 after buying an additional 1,594,800 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of Cencora by 20.4% in the 4th quarter. Invesco Ltd. now owns 3,243,531 shares of the company's stock valued at $728,757,000 after buying an additional 550,246 shares in the last quarter. Institutional investors and hedge funds own 97.52% of the company's stock.

Analysts Set New Price Targets

COR has been the topic of several analyst reports. Citigroup upped their target price on shares of Cencora from $330.00 to $355.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Wells Fargo & Company raised 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 report on Tuesday, June 3rd. Morgan Stanley set a $288.00 target price on shares of Cencora in a report on Tuesday, April 15th. Jefferies Financial Group upped their target price on shares of Cencora from $275.00 to $300.00 and gave the stock a "hold" rating in a report on Monday, June 30th. Finally, 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 report on Thursday, May 8th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $306.33.

Cencora Trading Down 0.8%

Cencora stock traded down $2.25 during trading hours on Friday, reaching $295.07. 963,863 shares of the company's stock traded hands, compared to its average volume of 1,642,504. The company has a debt-to-equity ratio of 6.01, a quick ratio of 0.52 and a current ratio of 0.87. Cencora, Inc. has a fifty-two week low of $218.65 and a fifty-two week high of $309.35. The firm has a market capitalization of $57.19 billion, a price-to-earnings ratio of 34.23, a PEG ratio of 1.49 and a beta of 0.57. The firm's 50 day moving average is $291.85 and its 200-day moving average is $269.23.

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, beating analysts' consensus estimates of $4.07 by $0.35. Cencora had a net margin of 0.55% and a return on equity of 344.71%. The company had revenue of $75.50 billion for the quarter, compared to the consensus estimate of $75.41 billion. During the same period in the prior year, the company posted $3.80 EPS. The company's revenue was up 10.3% compared to the same quarter last year. On average, analysts predict that Cencora, Inc. will post 15.37 earnings per share for the current 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 given 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 presently 25.52%.

Insider Transactions at Cencora

In related news, Chairman Steven H. Collis sold 14,579 shares of the 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 sale, the chairman directly owned 311,913 shares in the company, valued at $91,271,982.06. This trade represents a 4.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Robert P. Mauch sold 4,969 shares of the 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 completion of the sale, the chief executive officer 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 90 days, insiders have sold 34,127 shares of company stock worth $9,812,296. Corporate insiders own 10.80% of the company's stock.

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.