Mitsubishi UFJ Trust & Banking Corp Sells 23,046 Shares of Cencora, Inc. (NYSE:COR)

Key Points

• Mitsubishi UFJ Trust & Banking Corp reduced its stake in Cencora, Inc. by 7.4%, selling 23,046 shares, and now retains 288,137 shares valued at approximately $80 million.
• Cencora, Inc. reported a quarterly earnings per share of $4.42, exceeding estimates, with a year-over-year revenue growth of 10.3% to $75.50 billion.
• The company recently declared a quarterly dividend of $0.55 per share, resulting in an annualized dividend yield of 0.8% and a payout ratio of 25.52%.

Mitsubishi UFJ Trust & Banking Corp reduced its position in Cencora, Inc. (NYSE:COR - Free Report) by 7.4% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 288,137 shares of the company's stock after selling 23,046 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.15% of Cencora worth $80,128,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Net Worth Advisory Group boosted its holdings in shares of Cencora by 1.4% in the 1st quarter. Net Worth Advisory Group now owns 2,645 shares of the company's stock valued at $736,000 after buying an additional 36 shares in the last quarter. Obermeyer Wealth Partners boosted its holdings in shares of Cencora by 1.3% in the 1st quarter. Obermeyer Wealth Partners now owns 2,724 shares of the company's stock valued at $758,000 after buying an additional 36 shares in the last quarter. Cromwell Holdings LLC raised its position in shares of Cencora by 9.5% in the 1st quarter. Cromwell Holdings LLC now owns 450 shares of the company's stock valued at $125,000 after purchasing an additional 39 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC raised its position in shares of Cencora by 2.7% in the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,565 shares of the company's stock valued at $435,000 after purchasing an additional 41 shares during the last quarter. Finally, Private Trust Co. NA raised its position in shares of Cencora by 2.5% in 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 during the last quarter. 97.52% of the stock is currently owned by institutional investors.

Cencora Stock Performance

COR opened at $288.31 on Friday. Cencora, Inc. has a 12-month low of $218.65 and a 12-month high of $309.35. The company has a current ratio of 0.87, a quick ratio of 0.52 and a debt-to-equity ratio of 6.01. The firm has a market capitalization of $55.88 billion, a PE ratio of 33.45, a P/E/G ratio of 1.42 and a beta of 0.57. The firm has a 50 day moving average of $292.97 and a two-hundred day moving average of $276.02.

Cencora (NYSE:COR - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $4.42 earnings per share for the quarter, beating 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 net margin of 0.55% and a return on equity of 344.71%. The business's quarterly revenue was up 10.3% on a year-over-year basis. During the same period in the previous year, the firm earned $3.80 EPS. On average, analysts anticipate that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 16th were issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Friday, May 16th. Cencora's payout ratio is 25.52%.

Wall Street Analyst Weigh In

Several brokerages recently commented on COR. Citigroup increased their price objective on shares of Cencora from $330.00 to $355.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. UBS Group increased their price objective on shares of Cencora from $298.00 to $335.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Jefferies Financial Group increased their price objective on shares of Cencora from $275.00 to $300.00 and gave the company a "hold" rating in a research report on Monday, June 30th. Bank of America increased their price objective on shares of Cencora from $270.00 to $285.00 and gave the company a "neutral" rating in a research report on Friday, April 11th. Finally, Morgan Stanley set a $330.00 price objective on shares of Cencora and gave the company an "equal weight" rating in a research report on Wednesday, July 16th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, Cencora presently has a consensus rating of "Moderate Buy" and an average price target of $309.83.

Insider Activity at Cencora

In other news, CEO Robert P. Mauch sold 4,968 shares of Cencora stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $294.11, for a total transaction of $1,461,138.48. Following the completion of the transaction, the chief executive officer directly owned 42,351 shares of the company's stock, valued at $12,455,852.61. The trade was a 10.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Steven H. Collis sold 14,579 shares of Cencora stock in a transaction that occurred on Tuesday, June 24th. The shares were 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. 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 ninety days, insiders have sold 34,125 shares of company stock valued at $9,993,789. 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.

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