Tobam Sells 13,715 Shares of Cencora, Inc. (NYSE:COR)

Tobam cut its holdings in Cencora, Inc. (NYSE:COR - Free Report) by 58.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,783 shares of the company's stock after selling 13,715 shares during the period. Cencora comprises approximately 1.2% of Tobam's investment portfolio, making the stock its 29th biggest holding. Tobam's holdings in Cencora were worth $2,721,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in COR. Norges Bank acquired a new stake in shares of Cencora in the fourth quarter valued at approximately $478,309,000. Bank of America Corp DE raised its holdings in shares of Cencora by 62.3% in the fourth quarter. Bank of America Corp DE now owns 5,193,807 shares of the company's stock valued at $1,166,944,000 after purchasing an additional 1,994,256 shares during the last quarter. Castlekeep Investment Advisors LLC acquired a new position in Cencora during the fourth quarter worth $399,508,000. GAMMA Investing LLC increased its holdings in Cencora by 43,561.9% during the first quarter. GAMMA Investing LLC now owns 1,598,461 shares of the company's stock worth $444,516,000 after buying an additional 1,594,800 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Cencora during the fourth quarter worth $322,460,000. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Cencora Stock Performance

Shares of NYSE:COR traded up $0.08 on Friday, hitting $295.12. The company had a trading volume of 966,888 shares, compared to its average volume of 1,528,880. Cencora, Inc. has a 1-year low of $218.65 and a 1-year high of $309.35. The stock has a market cap of $57.20 billion, a price-to-earnings ratio of 41.98, a P/E/G ratio of 1.31 and a beta of 0.58. The stock has a 50 day moving average price of $287.24 and a 200 day moving average price of $261.82. The company has a current ratio of 0.92, a quick ratio of 0.54 and a debt-to-equity ratio of 16.40.

Cencora (NYSE:COR - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $4.42 EPS for the quarter, beating the consensus estimate of $4.07 by $0.35. Cencora had a net margin of 0.46% and a return on equity of 328.62%. The firm had revenue of $75.50 billion for the quarter, compared to the consensus estimate of $75.41 billion. During the same period in the previous year, the company earned $3.80 earnings per share. The company's quarterly revenue was up 10.3% on a year-over-year basis. Analysts expect that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 16th were paid a $0.55 dividend. The ex-dividend date was Friday, May 16th. This represents a $2.20 annualized dividend and a dividend yield of 0.75%. Cencora's dividend payout ratio (DPR) is presently 25.52%.

Insider Activity at Cencora

In related news, Chairman Steven H. Collis sold 14,579 shares of the company's stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $281.81, for a total value of $4,108,507.99. Following the transaction, the chairman now directly owns 315,913 shares in the company, valued at approximately $89,027,442.53. This represents a 4.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Elizabeth S. Campbell sold 4,127 shares of the company's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $268.28, for a total transaction of $1,107,191.56. Following the completion of the transaction, the executive vice president now owns 14,665 shares in the company, valued at $3,934,326.20. This trade represents a 21.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,253 shares of company stock worth $10,582,297. Corporate insiders own 10.80% of the company's stock.

Analyst Upgrades and Downgrades

COR has been the topic of a number of recent analyst reports. Robert W. Baird boosted 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. UBS Group boosted 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. Wells Fargo & Company upgraded shares of Cencora from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $274.00 to $337.00 in a report on Tuesday, June 3rd. Bank of America boosted their target price on shares of Cencora from $270.00 to $285.00 and gave the stock a "neutral" rating in a report on Friday, April 11th. Finally, Morgan Stanley set a $288.00 target price on shares of Cencora in a report on Tuesday, April 15th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $306.91.

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.