Cencora, Inc. (NYSE:COR) Shares Sold by US Asset Management LLC

US Asset Management LLC lowered its stake in Cencora, Inc. (NYSE:COR - Free Report) by 46.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,139 shares of the company's stock after selling 985 shares during the quarter. US Asset Management LLC's holdings in Cencora were worth $317,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of COR. Hoey Investments Inc. acquired a new position in Cencora during the first quarter worth $28,000. Banque Transatlantique SA acquired a new position in Cencora during the 4th quarter worth about $29,000. SBI Securities Co. Ltd. acquired a new position in Cencora during the 4th quarter worth about $30,000. Vermillion Wealth Management Inc. acquired a new stake in shares of Cencora during the fourth quarter worth about $38,000. Finally, Golden State Wealth Management LLC lifted its position in shares of Cencora by 157.6% during the first quarter. Golden State Wealth Management LLC now owns 170 shares of the company's stock worth $47,000 after purchasing an additional 104 shares in the last quarter. Institutional investors and hedge funds own 97.52% of the company's stock.

Cencora Stock Up 1.7%

Cencora stock traded up $5.06 during midday trading on Friday, reaching $296.23. The company's stock had a trading volume of 614,990 shares, compared to its average volume of 1,506,788. Cencora, Inc. has a fifty-two week low of $218.65 and a fifty-two week high of $309.35. 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 company has a market cap of $57.42 billion, a P/E ratio of 34.37, a P/E/G ratio of 1.47 and a beta of 0.57. The business has a 50-day simple moving average of $291.12 and a 200-day simple moving average of $267.51.

Cencora (NYSE:COR - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $4.42 earnings per share for the quarter, topping the consensus estimate of $4.07 by $0.35. Cencora had a return on equity of 344.71% and a net margin of 0.55%. The business had revenue of $75.50 billion for the quarter, compared to analyst estimates of $75.41 billion. During the same quarter last year, the company earned $3.80 EPS. The business's quarterly revenue was up 10.3% on a year-over-year basis. On average, 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. Shareholders of record on Friday, May 16th were issued a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.20 dividend on an annualized basis and a yield of 0.74%. Cencora's payout ratio is currently 25.52%.

Insider Buying and Selling

In other Cencora news, CEO Robert P. Mauch sold 4,969 shares of the firm'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 transaction of $1,437,680.77. Following the sale, the chief executive officer owned 47,582 shares of the company's stock, valued at approximately $13,766,900.06. This trade represents a 9.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Steven H. Collis sold 14,579 shares of Cencora stock in a transaction 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 sale, the chairman owned 311,913 shares in the company, valued at $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. In the last three months, insiders have sold 34,127 shares of company stock worth $9,812,296. 10.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on COR. Wall Street Zen raised shares of Cencora from a "hold" rating to a "buy" rating in a research report on Wednesday, March 12th. Jefferies Financial Group increased their target price on shares of Cencora from $275.00 to $300.00 and gave the stock a "hold" rating in a report on Monday, June 30th. Morgan Stanley set a $288.00 target price on shares of Cencora in a report on Tuesday, April 15th. Bank of America increased their price objective on Cencora from $270.00 to $285.00 and gave the company a "neutral" rating in a research note on Friday, April 11th. Finally, UBS Group increased 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. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $306.33.

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.