Nuveen Asset Management LLC Cuts Stock Position in Cencora, Inc. (NYSE:COR)

Nuveen Asset Management LLC reduced its position in shares of Cencora, Inc. (NYSE:COR - Free Report) by 10.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 684,455 shares of the company's stock after selling 83,118 shares during the quarter. Nuveen Asset Management LLC owned about 0.35% of Cencora worth $153,783,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. JFS Wealth Advisors LLC raised its holdings in Cencora by 63.0% during the 4th quarter. JFS Wealth Advisors LLC now owns 119 shares of the company's stock worth $27,000 after buying an additional 46 shares during the period. Banque Transatlantique SA bought a new stake in shares of Cencora during the 4th quarter worth $29,000. SBI Securities Co. Ltd. acquired a new stake in shares of Cencora in the 4th quarter valued at $30,000. Householder Group Estate & Retirement Specialist LLC boosted its holdings in shares of Cencora by 85.2% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 150 shares of the company's stock worth $33,000 after acquiring an additional 69 shares in the last quarter. Finally, Kentucky Trust Co bought a new stake in Cencora during the 4th quarter worth about $33,000. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

COR has been the subject of a number of recent analyst reports. Morgan Stanley set a $288.00 price target on shares of Cencora in a research note on Tuesday, April 15th. UBS Group raised their price objective on Cencora from $298.00 to $335.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. 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. Citigroup upped their price objective on shares of Cencora from $330.00 to $355.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Finally, Evercore ISI increased their price target on Cencora from $270.00 to $280.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Cencora currently has an average rating of "Moderate Buy" and a consensus target price of $301.18.

Cencora Stock Performance

Shares of COR traded up $2.15 during mid-day trading on Monday, hitting $292.37. 1,553,490 shares of the company traded hands, compared to its average volume of 1,544,787. The company has a debt-to-equity ratio of 16.40, a quick ratio of 0.54 and a current ratio of 0.92. The stock has a 50-day moving average price of $279.87 and a two-hundred day moving average price of $255.76. Cencora, Inc. has a 1 year low of $214.77 and a 1 year high of $309.35. The stock has a market cap of $56.70 billion, a price-to-earnings ratio of 41.59, a P/E/G ratio of 1.31 and a beta of 0.60.

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

Cencora Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Friday, May 16th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 0.75%. The ex-dividend date is Friday, May 16th. Cencora's dividend payout ratio is presently 25.52%.

Insider Transactions at Cencora

In related news, CAO Lazarus Krikorian sold 2,000 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $260.06, for a total transaction 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Silvana Battaglia sold 5,000 shares of the business's stock in a transaction that occurred on Friday, February 21st. The shares were 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 of the company's stock, valued at approximately $3,724,197.76. This trade represents a 24.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 50,223 shares of company stock worth $13,580,967 in the last 90 days. 10.80% of the stock is currently 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.