Kayne Anderson Rudnick Investment Management LLC Sells 2,740 Shares of Cencora, Inc. (NYSE:COR)

Kayne Anderson Rudnick Investment Management LLC decreased its holdings in Cencora, Inc. (NYSE:COR - Free Report) by 18.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,481 shares of the company's stock after selling 2,740 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC's holdings in Cencora were worth $2,804,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of COR. Passumpsic Savings Bank grew its position in Cencora by 4.9% in the 3rd quarter. Passumpsic Savings Bank now owns 6,464 shares of the company's stock valued at $1,455,000 after buying an additional 304 shares in the last quarter. Virtu Financial LLC lifted its stake in shares of Cencora by 112.2% in the 3rd quarter. Virtu Financial LLC now owns 10,227 shares of the company's stock worth $2,302,000 after acquiring an additional 5,407 shares during the period. World Investment Advisors LLC bought a new position in shares of Cencora in the third quarter valued at approximately $4,072,000. Arvest Bank Trust Division acquired a new position in shares of Cencora during the third quarter valued at approximately $218,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in Cencora during the third quarter worth approximately $566,000. 97.52% of the stock is owned by institutional investors and hedge funds.

Cencora Trading Up 1.3 %

NYSE COR traded up $3.66 on Friday, hitting $286.05. 1,815,757 shares of the stock were exchanged, compared to its average volume of 1,522,859. The company's 50-day moving average price is $268.09 and its two-hundred day moving average price is $249.54. The company has a debt-to-equity ratio of 16.40, a current ratio of 0.92 and a quick ratio of 0.54. Cencora, Inc. has a 52-week low of $214.77 and a 52-week high of $296.65. The company has a market capitalization of $55.47 billion, a price-to-earnings ratio of 40.69, a P/E/G ratio of 1.31 and a beta of 0.55.

Cencora (NYSE:COR - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share for the quarter, beating the consensus estimate of $3.50 by $0.23. Cencora had a return on equity of 328.62% and a net margin of 0.46%. Research analysts predict that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend was Friday, February 14th. Cencora's dividend payout ratio is currently 31.29%.

Analyst Upgrades and Downgrades

COR has been the subject of a number of research reports. Morgan Stanley set a $288.00 price target on Cencora in a research note on Tuesday, April 15th. Bank of America lifted their target price on Cencora from $270.00 to $285.00 and gave the stock a "neutral" rating in a report on Friday, April 11th. StockNews.com raised shares of Cencora from a "hold" rating to a "buy" rating in a report on Wednesday, March 12th. JPMorgan Chase & Co. lifted their price objective on shares of Cencora from $289.00 to $301.00 and gave the stock an "overweight" rating in a research note on Friday, January 24th. Finally, Wells Fargo & Company increased their target price on shares of Cencora from $251.00 to $274.00 and gave the company an "equal weight" rating in a research note on Friday, March 14th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $284.55.

Insider Buying and Selling at Cencora

In other Cencora news, EVP Silvana Battaglia sold 5,000 shares of the business's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $242.24, for a total value of $1,211,200.00. Following the transaction, the executive vice president now owns 15,374 shares in the company, valued at $3,724,197.76. The trade was a 24.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Lazarus Krikorian sold 2,000 shares of the company's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $260.06, for a total value of $520,120.00. Following the completion of the transaction, the chief accounting officer now directly owns 20,154 shares in the company, valued at approximately $5,241,249.24. The trade was a 9.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,223 shares of company stock worth $13,580,967. 10.80% of the stock is currently owned by company insiders.

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.