US Bancorp DE Sells 1,287 Shares of Cencora, Inc. (NYSE:COR)

Key Points

• US Bancorp DE has reduced its holdings in Cencora, Inc. by 2.5%, selling 1,287 shares, and now owns 50,990 shares valued at approximately $14.18 million.
• Investment firms such as Cornerstone Planning Group LLC and Hoey Investments Inc. have recently increased their stakes in Cencora, highlighting strong institutional interest with 97.52% of shares owned by institutional investors.
• Research analysts have upgraded their price targets for Cencora, with the average target now at $309.83, indicating a consensus rating of "Moderate Buy" with multiple analysts issuing buy ratings.

US Bancorp DE lowered its position in shares of Cencora, Inc. (NYSE:COR - Free Report) by 2.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 50,990 shares of the company's stock after selling 1,287 shares during the period. US Bancorp DE's holdings in Cencora were worth $14,180,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its position in Cencora by 0.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,859,452 shares of the company's stock valued at $1,990,542,000 after acquiring an additional 78,066 shares during the last quarter. 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 buying an additional 1,994,256 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Cencora by 20.4% in the fourth quarter. Invesco Ltd. now owns 3,243,531 shares of the company's stock valued at $728,757,000 after buying an additional 550,246 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Cencora by 11.6% in the fourth quarter. Northern Trust Corp now owns 2,421,237 shares of the company's stock valued at $544,004,000 after buying an additional 252,028 shares during the last quarter. Finally, Castlekeep Investment Advisors LLC purchased a new stake in shares of Cencora in the fourth quarter valued at about $399,508,000. Institutional investors and hedge funds own 97.52% of the company's stock.

Cencora Trading Down 2.4%

Cencora stock traded down $6.92 during midday trading on Thursday, reaching $276.86. The stock had a trading volume of 1,075,013 shares, compared to its average volume of 1,569,561. The firm's fifty day simple moving average is $292.87 and its two-hundred day simple moving average is $277.05. The firm has a market cap of $53.66 billion, a price-to-earnings ratio of 32.14, a PEG ratio of 1.45 and a beta of 0.58. Cencora, Inc. has a twelve month low of $218.65 and a twelve month high of $309.35. The company has a debt-to-equity ratio of 6.01, a current ratio of 0.87 and a quick ratio of 0.52.

Cencora (NYSE:COR - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $4.00 earnings per share for the quarter, topping analysts' consensus estimates of $3.79 by $0.21. Cencora had a net margin of 0.55% and a return on equity of 344.71%. The business had revenue of $80.66 billion for the quarter, compared to the consensus estimate of $80.34 billion. During the same period in the prior year, the business posted $3.34 earnings per share. Cencora's revenue for the quarter was up 8.7% compared to the same quarter last year. Equities analysts anticipate that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Friday, August 15th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 0.8%. Cencora's dividend payout ratio is currently 25.52%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on COR. UBS Group upped their target price on shares of Cencora from $298.00 to $335.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Morgan Stanley set a $330.00 target price on shares of Cencora and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. Citigroup upped their target price on shares of Cencora from $330.00 to $355.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Wells Fargo & Company upgraded shares of Cencora from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $274.00 to $337.00 in a research report on Tuesday, June 3rd. Finally, Bank of America raised their target price on shares of Cencora from $270.00 to $285.00 and gave the stock a "neutral" rating in a research report on Friday, April 11th. Three equities research analysts have 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 has a consensus rating of "Moderate Buy" and a consensus price target of $309.83.

Insider Buying and Selling at Cencora

In related news, Chairman Steven H. Collis sold 14,578 shares of Cencora stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $292.67, for a total transaction of $4,266,543.26. Following the completion of the transaction, the chairman directly owned 309,913 shares of the company's stock, valued at $90,702,237.71. This trade represents a 4.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Robert P. Mauch sold 4,968 shares of Cencora stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $294.11, for a total transaction of $1,461,138.48. Following the transaction, the chief executive officer directly owned 42,351 shares of the company's stock, valued at $12,455,852.61. This represents a 10.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,125 shares of company stock valued at $9,993,789. 10.80% of the stock is owned by insiders.

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.