Johnson Investment Counsel Inc. Sells 7,244 Shares of Cencora, Inc. (NYSE:COR)

Johnson Investment Counsel Inc. lessened its stake in Cencora, Inc. (NYSE:COR) by 1.8% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 406,039 shares of the company’s stock after selling 7,244 shares during the quarter. Cencora makes up approximately 1.1% of Johnson Investment Counsel Inc.’s investment portfolio, making the stock its 26th largest position. Johnson Investment Counsel Inc.’s holdings in Cencora were worth $112,915,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in COR. JFS Wealth Advisors LLC lifted its stake in Cencora by 63.0% in the fourth quarter. JFS Wealth Advisors LLC now owns 119 shares of the company’s stock valued at $27,000 after acquiring an additional 46 shares during the last quarter. Hoey Investments Inc. bought a new stake in shares of Cencora in the 1st quarter valued at about $28,000. Banque Transatlantique SA bought a new stake in shares of Cencora in the 4th quarter valued at about $29,000. SBI Securities Co. Ltd. acquired a new stake in Cencora in the 4th quarter valued at about $30,000. Finally, Vermillion Wealth Management Inc. bought a new position in Cencora during the fourth quarter worth about $38,000. 97.52% of the stock is owned by institutional investors.

Cencora Stock Up 1.3%

COR opened at $296.92 on Thursday. 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 fifty day moving average of $288.44 and a 200-day moving average of $262.56. Cencora, Inc. has a fifty-two week low of $218.65 and a fifty-two week high of $309.35. The company has a market capitalization of $57.55 billion, a P/E ratio of 34.44, a P/E/G ratio of 1.45 and a beta of 0.58.

Cencora (NYSE:COR) last issued its quarterly earnings data 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. The business had revenue of $75.50 billion during the quarter, compared to analysts’ expectations of $75.41 billion. Cencora had a net margin of 0.55% and a return on equity of 344.71%. The business’s revenue was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.80 EPS. On average, equities analysts expect that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 16th were given a $0.55 dividend. The ex-dividend date was Friday, May 16th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.74%. Cencora’s payout ratio is 25.52%.

Insider Activity at Cencora

In related news, EVP Elizabeth S. Campbell sold 4,127 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $268.28, for a total value of $1,107,191.56. Following the completion of the transaction, the executive vice president now owns 14,665 shares of the company’s stock, valued at $3,934,326.20. The trade was a 21.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Robert P. Mauch sold 4,969 shares of the stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $289.33, for a total transaction of $1,437,680.77. Following the sale, the chief executive officer now owns 47,582 shares in the company, valued at $13,766,900.06. The trade was a 9.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,253 shares of company stock worth $10,582,297. Company insiders own 10.80% of the company’s stock.

Analysts Set New Price Targets

COR has been the topic of a number of recent analyst reports. Bank of America upped 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. Robert W. Baird increased their price target on Cencora from $314.00 to $350.00 and gave the company an “outperform” rating in a research note on Thursday, May 8th. Wall Street Zen raised shares of Cencora from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. 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, UBS Group raised their target price on shares of Cencora from $298.00 to $335.00 and gave the stock a “buy” rating in a research note on Tuesday, April 29th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $306.91.

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.