Pinnacle Financial Partners Inc Buys Shares of 910 Cencora, Inc. (NYSE:COR)

Pinnacle Financial Partners Inc acquired a new position in Cencora, Inc. (NYSE:COR - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 910 shares of the company's stock, valued at approximately $253,000.

Several other institutional investors have also recently bought and sold shares of the stock. Aaron Wealth Advisors LLC raised its position in Cencora by 7.2% in the 1st quarter. Aaron Wealth Advisors LLC now owns 2,180 shares of the company's stock worth $606,000 after purchasing an additional 147 shares during the last quarter. WCM Investment Management LLC raised its position in Cencora by 24.9% in the 1st quarter. WCM Investment Management LLC now owns 2,642 shares of the company's stock worth $727,000 after purchasing an additional 526 shares during the last quarter. Harbour Trust & Investment Management Co raised its position in Cencora by 14.2% in the 1st quarter. Harbour Trust & Investment Management Co now owns 11,659 shares of the company's stock worth $3,242,000 after purchasing an additional 1,454 shares during the last quarter. Keybank National Association OH raised its position in Cencora by 1.7% in the 1st quarter. Keybank National Association OH now owns 8,034 shares of the company's stock worth $2,234,000 after purchasing an additional 133 shares during the last quarter. Finally, DAVENPORT & Co LLC raised its position in Cencora by 12.8% in the 1st quarter. DAVENPORT & Co LLC now owns 6,214 shares of the company's stock worth $1,728,000 after purchasing an additional 705 shares during the last quarter. Institutional investors own 97.52% of the company's stock.

Insider Buying and Selling

In other news, CEO Robert P. Mauch sold 4,969 shares of the stock in a transaction on Monday, April 21st. The shares were 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 $13,766,900.06. This represents a 9.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Steven H. Collis sold 14,579 shares of the company's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $292.62, for a total transaction of $4,266,106.98. Following the completion of the sale, the chairman directly owned 311,913 shares of the company's stock, valued at $91,271,982.06. This trade represents a 4.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,127 shares of company stock worth $9,812,296 in the last ninety days. 10.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on COR. Robert W. Baird boosted their price objective on shares of Cencora from $314.00 to $350.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Wells Fargo & Company raised shares of Cencora from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $274.00 to $337.00 in a report on Tuesday, June 3rd. Wall Street Zen raised shares of Cencora from a "hold" rating to a "buy" rating in a report on Wednesday, March 12th. Jefferies Financial Group lifted their target price on shares of Cencora from $275.00 to $300.00 and gave the stock a "hold" rating in a report on Monday, June 30th. Finally, UBS Group lifted 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. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $306.33.

Cencora Stock Performance

Shares of NYSE COR traded up $5.06 during midday trading on Friday, hitting $296.23. The company's stock had a trading volume of 614,990 shares, compared to its average volume of 1,506,788. The stock has a fifty day moving average price of $291.12 and a 200 day moving average price of $267.51. Cencora, Inc. has a one year low of $218.65 and a one year high of $309.35. 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 firm has a market capitalization of $57.42 billion, a price-to-earnings ratio of 34.37, a P/E/G ratio of 1.47 and a beta of 0.57.

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

Cencora Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 16th were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend was Friday, May 16th. Cencora's dividend payout ratio (DPR) is presently 25.52%.

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.