Truist Financial Corp Boosts Holdings in Cencora, Inc. (NYSE:COR)

Truist Financial Corp lifted its stake in shares of Cencora, Inc. (NYSE:COR - Free Report) by 13.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 386,199 shares of the company's stock after buying an additional 45,185 shares during the period. Truist Financial Corp owned approximately 0.20% of Cencora worth $107,398,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Impax Asset Management Group plc acquired a new stake in shares of Cencora during the first quarter worth $662,000. Huntleigh Advisors Inc. acquired a new position in Cencora during the first quarter valued at $229,000. IFM Investors Pty Ltd lifted its position in Cencora by 14.6% during the first quarter. IFM Investors Pty Ltd now owns 37,872 shares of the company's stock valued at $10,532,000 after purchasing an additional 4,838 shares during the period. 44 Wealth Management LLC acquired a new position in Cencora during the first quarter valued at $1,800,000. Finally, Silver Oak Securities Incorporated acquired a new position in Cencora during the first quarter valued at $169,000. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Cencora

In other news, CEO Robert P. Mauch sold 4,969 shares of the company's stock in a transaction that occurred 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 directly owned 47,582 shares in the company, valued at approximately $13,766,900.06. This represents a 9.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Steven H. Collis sold 14,579 shares of the company's stock in a transaction that occurred on Tuesday, June 24th. The stock was 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 owned 311,913 shares in the company, valued at approximately $91,271,982.06. This represents a 4.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,127 shares of company stock worth $9,812,296. Company insiders own 10.80% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on COR. Robert W. Baird boosted their target price 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 boosted their target price 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. Bank of America lifted their price objective on shares of Cencora from $270.00 to $285.00 and gave the company a "neutral" rating in a report on Friday, April 11th. Citigroup lifted 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. Finally, Wall Street Zen raised shares of Cencora from a "hold" rating to a "buy" rating in a report on Wednesday, March 12th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $306.33.

Cencora Trading Up 0.9%

NYSE:COR traded up $2.74 on Monday, hitting $298.97. The stock had a trading volume of 248,389 shares, compared to its average volume of 1,502,150. The company has a quick ratio of 0.52, a current ratio of 0.87 and a debt-to-equity ratio of 6.01. The stock has a market cap of $57.95 billion, a price-to-earnings ratio of 34.79, a PEG ratio of 1.47 and a beta of 0.57. The company has a fifty day moving average price of $291.12 and a two-hundred day moving average price of $267.80. Cencora, Inc. has a 1-year low of $218.65 and a 1-year high of $309.35.

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, beating the consensus estimate of $4.07 by $0.35. The company 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 period in the previous year, the business posted $3.80 EPS. Equities research 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, June 2nd. Stockholders of record on Friday, May 16th were issued a $0.55 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.20 annualized dividend and a dividend yield of 0.74%. Cencora's dividend payout ratio is currently 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.