Envestnet Portfolio Solutions Inc. Has $2.90 Million Stock Position in Cencora, Inc. (NYSE:COR)

Envestnet Portfolio Solutions Inc. cut its holdings in shares of Cencora, Inc. (NYSE:COR - Free Report) by 42.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,439 shares of the company's stock after selling 7,806 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Cencora were worth $2,903,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Price T Rowe Associates Inc. MD lifted its position in shares of Cencora by 0.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,859,452 shares of the company's stock worth $1,990,542,000 after buying an additional 78,066 shares during the last quarter. Bank of America Corp DE boosted 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 purchasing an additional 1,994,256 shares in the last quarter. Boston Partners grew its holdings in shares of Cencora by 2.6% during the 4th quarter. Boston Partners now owns 5,007,100 shares of the company's stock valued at $1,128,058,000 after purchasing an additional 125,611 shares during the last quarter. Geode Capital Management LLC increased its position in Cencora by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 4,326,064 shares of the company's stock worth $969,471,000 after purchasing an additional 130,213 shares in the last quarter. Finally, Invesco Ltd. increased its position in Cencora by 20.4% during the 4th quarter. Invesco Ltd. now owns 3,243,531 shares of the company's stock worth $728,757,000 after purchasing an additional 550,246 shares in the last quarter. Institutional investors and hedge funds own 97.52% of the company's stock.

Analyst Ratings Changes

COR has been the topic of a number of recent research reports. Wells Fargo & Company raised Cencora from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $274.00 to $337.00 in a research note on Tuesday, June 3rd. UBS Group boosted their target price on shares of Cencora from $298.00 to $335.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Robert W. Baird upped their price target on shares of Cencora from $314.00 to $350.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Wall Street Zen raised shares of Cencora from a "hold" rating to a "buy" rating in a research note on Wednesday, March 12th. Finally, Bank of America boosted their price objective on shares of Cencora from $270.00 to $285.00 and gave the stock a "neutral" rating in a research note on Friday, April 11th. One analyst has 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 has an average rating of "Moderate Buy" and an average target price of $306.91.

Cencora Price Performance

Shares of NYSE COR opened at $293.66 on Monday. The company has a market capitalization of $56.92 billion, a PE ratio of 34.07, a P/E/G ratio of 1.45 and a beta of 0.58. The company has a quick ratio of 0.52, a current ratio of 0.87 and a debt-to-equity ratio of 6.01. Cencora, Inc. has a twelve month low of $218.65 and a twelve month high of $309.35. The firm has a fifty day simple moving average of $288.98 and a 200 day simple moving average of $263.42.

Cencora (NYSE:COR - Get Free Report) last posted its quarterly earnings data 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 during 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 period last year, the company posted $3.80 EPS. On average, sell-side analysts forecast that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Dividend Announcement

The firm also recently declared 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 dividend yield of 0.75%. The ex-dividend date was Friday, May 16th. Cencora's payout ratio is 25.52%.

Insider Transactions at Cencora

In other news, Chairman Steven H. Collis sold 14,578 shares of the stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $269.51, for a total transaction of $3,928,916.78. Following the transaction, the chairman now owns 317,913 shares of the company's stock, valued at $85,680,732.63. This represents a 4.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 completion of the sale, the chief executive officer now owns 47,582 shares of the company's stock, valued at approximately $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. Insiders sold a total of 34,126 shares of company stock valued at $9,475,106 in the last quarter. 10.80% of the stock is currently owned by company insiders.

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.

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