Moran Wealth Management LLC Sells 1,115 Shares of Cencora, Inc. (NYSE:COR)

Moran Wealth Management LLC cut its holdings in shares of Cencora, Inc. (NYSE:COR - Free Report) by 1.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 75,959 shares of the company's stock after selling 1,115 shares during the period. Moran Wealth Management LLC's holdings in Cencora were worth $21,123,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in COR. 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 valued at $1,990,542,000 after acquiring an additional 78,066 shares during the last quarter. Bank of America Corp DE raised its position in shares of Cencora by 62.3% during the fourth quarter. Bank of America Corp DE now owns 5,193,807 shares of the company's stock worth $1,166,944,000 after purchasing an additional 1,994,256 shares during the period. Boston Partners lifted its holdings in shares of Cencora by 2.6% during the fourth 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 boosted its position in shares of Cencora by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 4,326,064 shares of the company's stock valued at $969,471,000 after purchasing an additional 130,213 shares during the period. Finally, Invesco Ltd. increased its stake in Cencora by 20.4% in 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. 97.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

COR has been the subject of several recent analyst reports. UBS Group raised 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 raised their price objective on shares of Cencora from $314.00 to $350.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Morgan Stanley set a $288.00 target price on shares of Cencora in a research note on Tuesday, April 15th. Wells Fargo & Company upgraded Cencora from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $274.00 to $337.00 in a report on Tuesday, June 3rd. Finally, Citigroup lifted their price target on Cencora from $330.00 to $355.00 and gave the company a "buy" rating in a report on Thursday, May 8th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Cencora has an average rating of "Moderate Buy" and an average price target of $306.91.

Cencora Stock Up 0.4%

COR traded up $1.03 during midday trading on Tuesday, hitting $294.16. 1,183,221 shares of the company's stock traded hands, compared to its average volume of 1,678,268. The company has a debt-to-equity ratio of 6.01, a current ratio of 0.87 and a quick ratio of 0.52. The company has a market cap of $57.01 billion, a PE ratio of 34.13, a price-to-earnings-growth ratio of 1.45 and a beta of 0.58. The stock's fifty day simple moving average is $289.16 and its 200-day simple moving average is $263.77. Cencora, Inc. has a one year low of $218.65 and a one year high of $309.35.

Cencora (NYSE:COR - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $4.42 earnings per share for the quarter, beating analysts' consensus estimates of $4.07 by $0.35. The business had revenue of $75.50 billion for the quarter, compared to the consensus estimate of $75.41 billion. Cencora had a net margin of 0.55% and a return on equity of 344.71%. Cencora's revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter last year, the firm earned $3.80 EPS. As a group, equities analysts anticipate that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 16th were issued a $0.55 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.20 annualized dividend and a yield of 0.75%. Cencora's dividend payout ratio (DPR) is currently 25.52%.

Insiders Place Their Bets

In related news, Chairman Steven H. Collis sold 14,579 shares of the company's stock in a transaction on Tuesday, April 22nd. The shares were sold at an average price of $281.81, for a total transaction of $4,108,507.99. Following the completion of the transaction, the chairman now directly owns 315,913 shares in the company, valued at $89,027,442.53. This represents a 4.41% 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 on 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 now owns 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. Company 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.