Cencora, Inc. (NYSE:COR) Position Cut by Poplar Forest Capital LLC

Poplar Forest Capital LLC cut its holdings in shares of Cencora, Inc. (NYSE:COR - Free Report) by 2.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 89,253 shares of the company's stock after selling 2,163 shares during the period. Cencora comprises approximately 4.4% of Poplar Forest Capital LLC's investment portfolio, making the stock its 8th biggest position. Poplar Forest Capital LLC's holdings in Cencora were worth $24,820,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Advisors Preferred LLC bought a new stake in shares of Cencora in the 1st quarter valued at $725,000. Close Asset Management Ltd bought a new position in shares of Cencora during the 1st quarter worth $110,629,000. United Bank raised its holdings in Cencora by 3.7% during the 1st quarter. United Bank now owns 6,727 shares of the company's stock valued at $1,871,000 after acquiring an additional 240 shares during the period. Y Intercept Hong Kong Ltd bought a new position in Cencora in the 1st quarter valued at $753,000. Finally, Obermeyer Wealth Partners raised its holdings in shares of Cencora by 1.3% in the 1st quarter. Obermeyer Wealth Partners now owns 2,724 shares of the company's stock valued at $758,000 after acquiring an additional 36 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors.

Cencora Trading Down 0.1%

Shares of NYSE:COR traded down $0.28 during trading on Friday, reaching $290.17. 785,267 shares of the company were exchanged, compared to its average volume of 1,072,635. The business's fifty day simple moving average is $293.31 and its 200-day simple moving average is $274.27. Cencora, Inc. has a 12-month low of $218.65 and a 12-month high of $309.35. The firm has a market capitalization of $56.24 billion, a PE ratio of 33.66, a P/E/G ratio of 1.44 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 issued its quarterly earnings data on Wednesday, May 7th. The company reported $4.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.07 by $0.35. Cencora had a net margin of 0.55% and a return on equity of 344.71%. The firm had revenue of $75.50 billion for the quarter, compared to the consensus estimate of $75.41 billion. During the same quarter in the previous year, the firm earned $3.80 EPS. The company's quarterly revenue was up 10.3% compared to the same quarter last year. On average, research analysts anticipate that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Dividend Announcement

The business 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. This represents a $2.20 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend was Friday, May 16th. Cencora's dividend payout ratio is currently 25.52%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Citigroup boosted their price objective on shares of Cencora from $330.00 to $355.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Morgan Stanley set a $330.00 target price on shares of Cencora and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. 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 research report on Thursday, May 8th. UBS Group lifted their price target on shares of Cencora from $298.00 to $335.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Finally, Bank of America boosted 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. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Cencora currently has an average rating of "Moderate Buy" and a consensus price target of $309.83.

Insider Activity

In related news, CEO Robert P. Mauch sold 4,968 shares of Cencora stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $294.11, for a total value of $1,461,138.48. Following the sale, the chief executive officer directly owned 42,351 shares in the company, valued at approximately $12,455,852.61. The trade was a 10.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Steven H. Collis sold 14,578 shares of the stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $292.67, for a total transaction of $4,266,543.26. Following the completion of the sale, the chairman owned 309,913 shares of the company's stock, valued at approximately $90,702,237.71. The trade was a 4.49% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,125 shares of company stock worth $9,993,789. 10.80% of the stock is currently owned by insiders.

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.