Morningstar Investment Services LLC Sells 18,829 Shares of Cencora, Inc. (NYSE:COR)

Morningstar Investment Services LLC reduced its stake in shares of Cencora, Inc. (NYSE:COR - Free Report) by 59.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,787 shares of the company's stock after selling 18,829 shares during the period. Morningstar Investment Services LLC's holdings in Cencora were worth $3,556,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Royal London Asset Management Ltd. increased its holdings in Cencora by 2.8% in the fourth quarter. Royal London Asset Management Ltd. now owns 101,284 shares of the company's stock valued at $22,756,000 after buying an additional 2,711 shares during the last quarter. Teacher Retirement System of Texas grew its holdings in shares of Cencora by 7.6% during the fourth quarter. Teacher Retirement System of Texas now owns 121,640 shares of the company's stock worth $27,330,000 after purchasing an additional 8,600 shares during the last quarter. Blueshift Asset Management LLC purchased a new position in shares of Cencora during the fourth quarter worth about $247,000. Whittier Trust Co. boosted its stake in shares of Cencora by 0.6% during the fourth quarter. Whittier Trust Co. now owns 7,856 shares of the company's stock worth $1,765,000 after buying an additional 44 shares during the period. Finally, Adams Diversified Equity Fund Inc. boosted its stake in shares of Cencora by 17.1% during the fourth quarter. Adams Diversified Equity Fund Inc. now owns 81,000 shares of the company's stock worth $18,199,000 after buying an additional 11,800 shares during the period. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Cencora Price Performance

NYSE COR traded up $0.66 during trading on Tuesday, hitting $293.33. 235,150 shares of the company's stock were exchanged, compared to its average volume of 1,497,484. 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 company has a market cap of $56.85 billion, a PE ratio of 34.00, a P/E/G ratio of 1.45 and a beta of 0.57. Cencora, Inc. has a fifty-two week low of $218.65 and a fifty-two week high of $309.35. The stock's 50 day moving average price is $292.67 and its two-hundred day moving average price is $273.19.

Cencora (NYSE:COR - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $4.42 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 business had revenue of $75.50 billion for the quarter, compared to analysts' expectations of $75.41 billion. During the same period in the prior year, the business posted $3.80 earnings per share. The firm's revenue was up 10.3% on a year-over-year basis. Research analysts expect that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Citigroup raised their price objective on shares of Cencora from $330.00 to $355.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Robert W. Baird lifted their price target on shares of Cencora from $314.00 to $350.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. UBS Group lifted their target price on shares of Cencora from $298.00 to $335.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Morgan Stanley lifted their price target on shares of Cencora from $313.00 to $330.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. Finally, Bank of America boosted their target price on shares of Cencora from $270.00 to $285.00 and gave the stock a "neutral" rating in a research report on Friday, April 11th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $309.83.

Insiders Place Their Bets

In other Cencora news, Chairman Steven H. Collis sold 14,579 shares of Cencora stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $292.62, for a total transaction of $4,266,106.98. Following the completion of the transaction, the chairman owned 311,913 shares of the company's stock, valued at $91,271,982.06. The trade was a 4.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company 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.