Cencora, Inc. (NYSE:COR) Stock Position Lessened by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC lowered its holdings in Cencora, Inc. (NYSE:COR - Free Report) by 1.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 69,619 shares of the company's stock after selling 1,146 shares during the quarter. Nisa Investment Advisors LLC's holdings in Cencora were worth $19,360,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Cornerstone Planning Group LLC raised its stake in shares of Cencora by 106.7% during the 1st quarter. Cornerstone Planning Group LLC now owns 93 shares of the company's stock worth $26,000 after buying an additional 48 shares during the last quarter. Hoey Investments Inc. acquired a new position in shares of Cencora during the 1st quarter worth $28,000. Banque Transatlantique SA acquired a new position in shares of Cencora during the 4th quarter worth $29,000. SBI Securities Co. Ltd. acquired a new position in shares of Cencora during the 4th quarter worth $30,000. Finally, Vermillion Wealth Management Inc. acquired a new position in shares of Cencora during the 4th quarter worth $38,000. Institutional investors and hedge funds own 97.52% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Jefferies Financial Group lifted their price target on Cencora from $275.00 to $300.00 and gave the stock a "hold" rating in a research note on Monday, June 30th. Robert W. Baird lifted their price objective on Cencora from $314.00 to $350.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Bank of America lifted their price objective on Cencora from $270.00 to $285.00 and gave the stock a "neutral" rating in a research report on Friday, April 11th. Wells Fargo & Company upgraded Cencora from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $274.00 to $337.00 in a research report on Tuesday, June 3rd. Finally, UBS Group lifted their price objective on Cencora from $298.00 to $335.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Cencora presently has a consensus rating of "Moderate Buy" and an average price target of $306.33.

Cencora Stock Down 0.8%

Cencora stock traded down $2.25 during midday trading on Friday, hitting $295.07. 970,795 shares of the company were exchanged, compared to its average volume of 1,512,862. The company's fifty day moving average price is $291.91 and its 200-day moving average price is $270.29. Cencora, Inc. has a fifty-two week low of $218.65 and a fifty-two week high of $309.35. The company has a market cap of $57.19 billion, a PE ratio of 34.23, a price-to-earnings-growth ratio of 1.46 and a beta of 0.57. The company has a debt-to-equity ratio of 6.01, a current ratio of 0.87 and a quick ratio of 0.52.

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

Cencora Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.75%. Cencora's dividend payout ratio (DPR) is 25.52%.

Insider Buying and Selling

In related news, Chairman Steven H. Collis sold 14,579 shares of the company's stock in a transaction on 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 directly owned 311,913 shares in the company, valued at $91,271,982.06. This represents a 4.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Robert P. Mauch sold 4,969 shares of the company's stock in a transaction on Monday, April 21st. The stock was sold at an average price of $289.33, for a total value of $1,437,680.77. Following the transaction, the chief executive officer owned 47,582 shares of the company's stock, valued at approximately $13,766,900.06. The trade was a 9.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,127 shares of company stock valued at $9,812,296 over the last quarter. Company insiders own 10.80% of the company's stock.

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.