Victory Capital Management Inc. Lowers Position in Cencora, Inc. (NYSE:COR)

Victory Capital Management Inc. lowered its holdings in Cencora, Inc. (NYSE:COR - Free Report) by 18.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 208,274 shares of the company's stock after selling 47,151 shares during the quarter. Victory Capital Management Inc. owned 0.11% of Cencora worth $57,919,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC lifted its position in shares of Cencora by 4.5% during the 1st quarter. Exchange Traded Concepts LLC now owns 1,104 shares of the company's stock worth $307,000 after buying an additional 48 shares during the period. Dynamic Advisor Solutions LLC lifted its position in shares of Cencora by 6.4% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 1,535 shares of the company's stock worth $427,000 after buying an additional 93 shares during the period. GAMMA Investing LLC raised its position in Cencora by 57.0% in the 1st quarter. GAMMA Investing LLC now owns 5,748 shares of the company's stock valued at $1,598,000 after purchasing an additional 2,087 shares during the last quarter. Westpac Banking Corp raised its position in Cencora by 13.5% in the 4th quarter. Westpac Banking Corp now owns 21,895 shares of the company's stock valued at $4,919,000 after purchasing an additional 2,596 shares during the last quarter. Finally, Golden State Wealth Management LLC raised its position in Cencora by 157.6% in the 1st quarter. Golden State Wealth Management LLC now owns 170 shares of the company's stock valued at $47,000 after purchasing an additional 104 shares during the last quarter. Institutional investors and hedge funds own 97.52% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Wells Fargo & Company upgraded Cencora from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $274.00 to $337.00 in a research report on Tuesday, June 3rd. Morgan Stanley set a $330.00 price target on Cencora and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. UBS Group upped their price target on Cencora from $298.00 to $335.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Jefferies Financial Group upped their price target on Cencora from $275.00 to $300.00 and gave the company a "hold" rating in a research note on Monday, June 30th. Finally, Citigroup upped their price target on Cencora from $330.00 to $355.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $309.83.

Cencora Stock Up 0.1%

NYSE COR traded up $0.41 during trading hours on Monday, hitting $293.28. 313,727 shares of the company traded hands, compared to its average volume of 1,500,627. The business's 50-day moving average is $292.38 and its 200-day moving average is $272.74. 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 quick ratio of 0.52 and a current ratio of 0.87. The stock has a market capitalization of $56.84 billion, a price-to-earnings ratio of 34.03, a P/E/G ratio of 1.45 and a beta of 0.57.

Cencora (NYSE:COR - Get Free Report) last released its quarterly earnings data 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 344.71% and a net margin of 0.55%. The company had revenue of $75.50 billion during the quarter, compared to analysts' expectations of $75.41 billion. During the same period last year, the firm posted $3.80 earnings per share. The business's revenue was up 10.3% on a year-over-year basis. Sell-side analysts anticipate that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 16th were given 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 0.75%. Cencora's dividend payout ratio is currently 25.52%.

Insiders Place Their Bets

In other news, Chairman Steven H. Collis sold 14,579 shares of the business's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $292.62, for a total value of $4,266,106.98. Following the transaction, the chairman directly owned 311,913 shares of the company's stock, valued at $91,271,982.06. The trade was a 4.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 10.80% of the stock is owned by corporate insiders.

Cencora 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.