Sumitomo Mitsui Trust Group Inc. Sells 35,834 Shares of Cencora, Inc. $COR

Key Points

• Sumitomo Mitsui Trust trimmed its Cencora stake by 3.9%, selling 35,834 shares and leaving it with 877,888 shares (about 0.45% of the company) valued at roughly $296.5 million; institutional investors own about 97.5% of the stock.
• Analysts are broadly positive with a consensus rating of Moderate Buy and an average target of $398.17, and firms including Barclays and JPMorgan recently raised price targets to $425 and $419, respectively.
• Cencora posted quarterly EPS of $4.08 (beating estimates) with 5.5% year-over-year revenue growth, trades at a market cap near $62.4 billion and a PE of ~38.6, and pays a quarterly dividend of $0.60 (annualized $2.40, yield ~0.7%).

Sumitomo Mitsui Trust Group Inc. decreased its holdings in Cencora, Inc. (NYSE:COR - Free Report) by 3.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 877,888 shares of the company's stock after selling 35,834 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.45% of Cencora worth $296,507,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. IAG Wealth Partners LLC bought a new position in Cencora in the third quarter worth approximately $30,000. Cloud Capital Management LLC bought a new position in Cencora in the third quarter worth approximately $31,000. Caitlin John LLC bought a new position in Cencora in the third quarter worth approximately $31,000. Westside Investment Management Inc. raised its stake in Cencora by 200.0% in the third quarter. Westside Investment Management Inc. now owns 105 shares of the company's stock worth $33,000 after buying an additional 70 shares in the last quarter. Finally, Harbor Investment Advisory LLC bought a new position in Cencora in the fourth quarter worth approximately $35,000. Institutional investors own 97.52% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on COR shares. Barclays boosted their price objective on shares of Cencora from $400.00 to $425.00 and gave the stock an "overweight" rating in a research note on Friday, February 13th. Weiss Ratings raised Cencora from a "hold (c+)" rating to a "buy (b)" rating in a research report on Thursday, February 5th. Evercore set a $360.00 price target on Cencora in a research report on Wednesday. Leerink Partners reaffirmed an "outperform" rating on shares of Cencora in a research report on Tuesday, March 17th. Finally, JPMorgan Chase & Co. upped their price target on Cencora from $417.00 to $419.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 10th. Twelve investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $398.17.

Cencora Stock Performance

Shares of COR stock opened at $320.97 on Friday. The business's fifty day simple moving average is $345.36 and its 200-day simple moving average is $342.59. The company has a market cap of $62.44 billion, a PE ratio of 38.58, a PEG ratio of 1.49 and a beta of 0.72. The company has a current ratio of 0.92, a quick ratio of 0.51 and a debt-to-equity ratio of 3.62. Cencora, Inc. has a 12-month low of $271.00 and a 12-month high of $377.54.

Cencora (NYSE:COR - Get Free Report) last issued its quarterly earnings results on Wednesday, February 4th. The company reported $4.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.04 by $0.04. The business had revenue of $85.93 billion for the quarter, compared to the consensus estimate of $86.12 billion. Cencora had a return on equity of 176.54% and a net margin of 0.50%.The business's quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the firm posted $3.73 earnings per share. Analysts expect that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Friday, February 13th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, February 13th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.7%. Cencora's payout ratio is 28.85%.

Insider Buying and Selling at Cencora

In other news, CEO Robert P. Mauch sold 5,096 shares of the business's stock in a transaction on Tuesday, January 20th. The shares were sold at an average price of $354.73, for a total transaction of $1,807,704.08. Following the sale, the chief executive officer directly owned 66,726 shares of the company's stock, valued at $23,669,713.98. The trade was a 7.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.38% of the stock is owned by company insiders.

Cencora Profile

Cencora NYSE: COR is a global healthcare services and pharmaceutical distribution company that provides end-to-end solutions across the pharmaceutical supply chain. The company's core activities include wholesale drug distribution, specialty drug distribution, and the operation of specialty pharmacies, complemented by logistics, cold-chain management and other fulfillment services designed to support complex and temperature-sensitive therapies.

Beyond physical distribution, Cencora offers a range of commercial and patient-focused services for pharmaceutical manufacturers and healthcare providers.

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