Cencora, Inc. (NYSE:COR) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

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 trimmed its position in shares of Cencora, Inc. (NYSE:COR - Free Report) by 7.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (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 approximately 0.15% of Cencora worth $80,128,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Franklin Resources Inc. raised its position in shares of Cencora by 1.9% during the 4th quarter. Franklin Resources Inc. now owns 211,076 shares of the company's stock valued at $47,425,000 after buying an additional 3,945 shares in the last quarter. Meeder Advisory Services Inc. boosted its holdings in shares of Cencora by 4.1% in the 4th quarter. Meeder Advisory Services Inc. now owns 4,058 shares of the company's stock worth $912,000 after purchasing an additional 159 shares during the period. Bryce Point Capital LLC bought a new position in shares of Cencora during the 4th quarter valued at approximately $543,000. Nicolet Advisory Services LLC raised its holdings in Cencora by 7.6% during the 4th quarter. Nicolet Advisory Services LLC now owns 2,849 shares of the company's stock valued at $673,000 after buying an additional 202 shares during the period. Finally, World Investment Advisors lifted its position in Cencora by 6.8% in the fourth quarter. World Investment Advisors now owns 19,317 shares of the company's stock worth $4,340,000 after buying an additional 1,227 shares during the last quarter. 97.52% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on COR shares. Bank of America increased their target price on shares of Cencora from $270.00 to $285.00 and gave the company a "neutral" rating in a research note on Friday, April 11th. Jefferies Financial Group increased their price target on Cencora from $275.00 to $300.00 and gave the stock a "hold" rating in a report on Monday, June 30th. Citigroup upped their price objective on Cencora from $330.00 to $355.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Robert W. Baird lifted their target price on Cencora from $314.00 to $350.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Finally, Wells Fargo & Company upgraded shares of Cencora from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $274.00 to $337.00 in a report on Tuesday, June 3rd. Three 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.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $309.83.

Cencora Stock Down 2.9%

COR stock traded down $8.45 during trading on Wednesday, reaching $283.90. 1,963,829 shares of the company traded hands, compared to its average volume of 1,568,418. The business has a 50 day simple moving average of $292.98 and a 200 day simple moving average of $277.01. Cencora, Inc. has a 12 month low of $218.65 and a 12 month high of $309.35. The company has a debt-to-equity ratio of 6.01, a quick ratio of 0.52 and a current ratio of 0.87. The company has a market capitalization of $55.03 billion, a price-to-earnings ratio of 32.94, a price-to-earnings-growth ratio of 1.45 and a beta of 0.58.

Cencora (NYSE:COR - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $4.00 EPS for the quarter, topping the consensus estimate of $3.79 by $0.21. Cencora had a net margin of 0.55% and a return on equity of 344.71%. The business had revenue of $80.66 billion during the quarter, compared to the consensus estimate of $80.34 billion. During the same period in the previous year, the firm posted $3.34 earnings per share. The business's revenue for the quarter was up 8.7% compared to the same quarter last year. On average, equities 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 disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 0.8%. Cencora's dividend payout ratio (DPR) is currently 25.52%.

Insider Buying and Selling at Cencora

In related news, CEO Robert P. Mauch sold 4,968 shares of the business's stock in a transaction 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 in the company, valued at $12,455,852.61. The trade was a 10.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Steven H. Collis sold 14,578 shares of Cencora stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $292.67, for a total value of $4,266,543.26. Following the transaction, the chairman owned 309,913 shares of the company's stock, valued at $90,702,237.71. The trade was a 4.49% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,125 shares of company stock worth $9,993,789 over the last ninety days. Insiders own 10.80% of the company's stock.

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.