Trust Point Inc. Lowers Stock Holdings in Cencora, Inc. (NYSE:COR)

Trust Point Inc. lessened its position in shares of Cencora, Inc. (NYSE:COR - Free Report) by 21.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,367 shares of the company's stock after selling 1,214 shares during the period. Trust Point Inc.'s holdings in Cencora were worth $1,214,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. JFS Wealth Advisors LLC lifted its stake in shares of Cencora by 63.0% during the fourth quarter. JFS Wealth Advisors LLC now owns 119 shares of the company's stock worth $27,000 after purchasing an additional 46 shares in the last quarter. Hoey Investments Inc. acquired a new position in shares of Cencora in the first quarter worth about $28,000. Banque Transatlantique SA acquired a new position in shares of Cencora in the fourth quarter worth about $29,000. SBI Securities Co. Ltd. acquired a new stake in Cencora during the fourth quarter valued at approximately $30,000. Finally, WASHINGTON TRUST Co raised its stake in Cencora by 37.7% during the fourth quarter. WASHINGTON TRUST Co now owns 168 shares of the company's stock valued at $38,000 after buying an additional 46 shares in the last quarter. Hedge funds and other institutional investors own 97.52% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on COR. UBS Group upped their price objective on Cencora from $298.00 to $335.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Bank of America increased their price objective on Cencora from $270.00 to $285.00 and gave the stock a "neutral" rating in a report on Friday, April 11th. Citigroup upped their target price on Cencora from $330.00 to $355.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Morgan Stanley set a $288.00 target price on Cencora in a research report on Tuesday, April 15th. Finally, Wall Street Zen raised Cencora from a "hold" rating to a "buy" rating in a research note on Wednesday, March 12th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $306.91.

Insiders Place Their Bets

In other news, EVP Elizabeth S. Campbell sold 4,127 shares of the firm's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $268.28, for a total value of $1,107,191.56. Following the sale, the executive vice president now directly owns 14,665 shares of the company's stock, valued at approximately $3,934,326.20. This trade represents a 21.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Robert P. Mauch sold 4,969 shares of the firm's stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 47,582 shares in the company, valued at approximately $13,766,900.06. This represents a 9.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,253 shares of company stock valued at $10,582,297 over the last three months. 10.80% of the stock is currently owned by insiders.

Cencora Price Performance

COR opened at $295.12 on Monday. The stock has a fifty day moving average of $287.24 and a 200-day moving average of $261.82. The firm has a market capitalization of $57.20 billion, a P/E ratio of 41.98, a PEG ratio of 1.31 and a beta of 0.58. Cencora, Inc. has a 12-month low of $218.65 and a 12-month high of $309.35. The company has a quick ratio of 0.54, a current ratio of 0.92 and a debt-to-equity ratio of 16.40.

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

Cencora Dividend Announcement

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

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