Prudential PLC Sells 4,805 Shares of Cencora, Inc. (NYSE:COR)

Key Points

• Prudential PLC reduced its stake in Cencora, Inc. by 14.3%, selling 4,805 shares to hold a total of 28,741 shares valued at $7,993,000.
• Cencora’s stock price experienced a slight drop of 0.4%, with a recent trading value of $289.44 and a market cap of $56.1 billion.
• Insiders, including the Chairman and CEO, sold a combined total of more than 34,000 shares in the last 90 days, indicating potential changes in personal investment strategies.

Prudential PLC lessened its position in Cencora, Inc. (NYSE:COR - Free Report) by 14.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,741 shares of the company's stock after selling 4,805 shares during the quarter. Prudential PLC's holdings in Cencora were worth $7,993,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Bank of America Corp DE increased its holdings in shares of Cencora by 62.3% during the 4th quarter. Bank of America Corp DE now owns 5,193,807 shares of the company's stock worth $1,166,944,000 after purchasing an additional 1,994,256 shares during the period. Castlekeep Investment Advisors LLC bought a new stake in Cencora in the fourth quarter valued at about $399,508,000. GAMMA Investing LLC increased its stake in Cencora by 43,561.9% in the first quarter. GAMMA Investing LLC now owns 1,598,461 shares of the company's stock valued at $444,516,000 after acquiring an additional 1,594,800 shares during the period. Invesco Ltd. increased its stake in Cencora by 42.1% in the first quarter. Invesco Ltd. now owns 4,607,964 shares of the company's stock valued at $1,281,429,000 after acquiring an additional 1,364,433 shares during the period. Finally, Nuveen LLC bought a new stake in Cencora during the first quarter worth about $181,284,000. Institutional investors own 97.52% of the company's stock.

Insiders Place Their Bets

In related news, CEO Robert P. Mauch sold 4,968 shares of the firm's stock in a transaction on Friday, July 18th. The shares were sold at an average price of $294.11, for a total value of $1,461,138.48. Following the completion of the transaction, the chief executive officer owned 42,351 shares of the company's stock, valued at approximately $12,455,852.61. This trade represents a 10.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Steven H. Collis sold 14,579 shares of the firm'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 transaction, the chairman directly owned 311,913 shares of the company's stock, valued at approximately $91,271,982.06. This trade represents a 4.47% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,125 shares of company stock valued at $9,993,789. 10.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Morgan Stanley set a $330.00 price objective on shares of Cencora and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. Wells Fargo & Company set a $354.00 price objective on shares of Cencora and gave the company an "overweight" rating in a report on Wednesday. Citigroup increased their price objective on shares of Cencora from $330.00 to $355.00 and gave the company a "buy" rating in a report on Thursday, May 8th. UBS Group increased 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. Finally, Robert W. Baird increased their target price on shares of Cencora from $314.00 to $350.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Cencora presently has an average rating of "Moderate Buy" and a consensus price target of $311.25.

Cencora Stock Down 0.5%

Shares of COR stock traded down $1.59 during trading hours on Friday, hitting $293.28. 1,109,030 shares of the company were exchanged, compared to its average volume of 1,230,909. The business has a 50 day moving average of $292.70 and a two-hundred day moving average of $279.00. The company has a current ratio of 0.90, a quick ratio of 0.53 and a debt-to-equity ratio of 3.64. Cencora, Inc. has a 52 week low of $218.65 and a 52 week high of $309.35. The company has a market capitalization of $56.86 billion, a PE ratio of 30.17, a PEG ratio of 1.40 and a beta of 0.58.

Cencora (NYSE:COR - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $4.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.79 by $0.21. Cencora had a net margin of 0.60% and a return on equity of 267.36%. The company had revenue of $80.66 billion during the quarter, compared to the consensus estimate of $80.34 billion. During the same quarter in the prior year, the firm earned $3.34 earnings per share. The firm's revenue was up 8.7% compared to the same quarter last year. Analysts anticipate that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Friday, August 15th will be given a $0.55 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $2.20 dividend on an annualized basis and a yield of 0.8%. Cencora's dividend payout ratio (DPR) is 22.63%.

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.