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

Moran Wealth Management LLC decreased its position in Cencora, Inc. (NYSE:COR - Free Report) by 1.4% in the first quarter, according to its most recent 13F filing 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 quarter. Moran Wealth Management LLC's holdings in Cencora were worth $21,123,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its position in Cencora by 0.9% in 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 lifted 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 acquiring an additional 1,994,256 shares during the last quarter. Boston Partners lifted its stake in shares of Cencora by 2.6% in the 4th quarter. Boston Partners now owns 5,007,100 shares of the company's stock valued at $1,128,058,000 after acquiring an additional 125,611 shares during the last quarter. Geode Capital Management LLC lifted its stake 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 acquiring an additional 130,213 shares during the last quarter. Finally, Invesco Ltd. lifted 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 acquiring an additional 550,246 shares during the last quarter. Institutional investors own 97.52% of the company's stock.

Cencora Price Performance

COR opened at $299.71 on Friday. 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 52-week low of $218.65 and a 52-week high of $309.35. The stock has a market capitalization of $58.09 billion, a PE ratio of 34.77, a price-to-earnings-growth ratio of 1.47 and a beta of 0.58. The stock's 50 day moving average price is $289.95 and its 200-day moving average price is $264.99.

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

Cencora Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 16th were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.20 annualized dividend and a dividend yield of 0.73%. Cencora's dividend payout ratio is presently 25.52%.

Insider Activity at Cencora

In related news, CEO Robert P. Mauch sold 4,969 shares of Cencora stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 47,582 shares in the company, valued at $13,766,900.06. The trade was a 9.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Steven H. Collis sold 14,579 shares of Cencora stock in a transaction that occurred on Tuesday, April 22nd. The shares were sold at an average price of $281.81, for a total value of $4,108,507.99. Following the sale, the chairman now owns 315,913 shares in the company, valued at $89,027,442.53. This represents a 4.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,127 shares of company stock worth $9,812,296 over the last ninety days. 10.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Bank of America lifted their price target on Cencora from $270.00 to $285.00 and gave the stock a "neutral" rating in a research note on Friday, April 11th. Wall Street Zen raised Cencora from a "hold" rating to a "buy" rating in a research note on Wednesday, March 12th. Citigroup lifted their price target on Cencora from $330.00 to $355.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Wells Fargo & Company raised Cencora from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $274.00 to $337.00 in a research note on Tuesday, June 3rd. Finally, UBS Group lifted their price target on Cencora from $298.00 to $335.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $306.91.

About Cencora

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.