Cullen Frost Bankers Inc. Sells 287 Shares of Cencora, Inc. (NYSE:COR)

Cullen Frost Bankers Inc. decreased its stake in shares of Cencora, Inc. (NYSE:COR) by 6.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,176 shares of the company’s stock after selling 287 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Cencora were worth $1,161,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Cornerstone Planning Group LLC grew its holdings in Cencora by 106.7% during the 1st quarter. Cornerstone Planning Group LLC now owns 93 shares of the company’s stock valued at $26,000 after buying an additional 48 shares in the last quarter. Hoey Investments Inc. acquired a new position in Cencora in the 1st quarter worth about $28,000. Banque Transatlantique SA purchased a new stake in shares of Cencora in the fourth quarter valued at approximately $29,000. Vermillion Wealth Management Inc. acquired a new position in Cencora in the fourth quarter valued at approximately $38,000. Finally, Golden State Wealth Management LLC boosted its position in shares of Cencora by 157.6% during the first quarter. Golden State Wealth Management LLC now owns 170 shares of the company’s stock worth $47,000 after buying an additional 104 shares during the period. 97.52% of the stock is owned by institutional investors.

Cencora Stock Down 1.1%

Cencora stock opened at $294.58 on Friday. The company has a market cap of $57.10 billion, a P/E ratio of 34.17, a price-to-earnings-growth ratio of 1.48 and a beta of 0.57. The company has a current ratio of 0.87, a quick ratio of 0.52 and a debt-to-equity ratio of 6.01. The company has a fifty day simple moving average of $292.19 and a 200 day simple moving average of $271.61. Cencora, Inc. has a 1-year low of $218.65 and a 1-year high of $309.35.

Cencora (NYSE:COR) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $4.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.07 by $0.35. The company had revenue of $75.50 billion for the quarter, compared to analyst estimates of $75.41 billion. Cencora had a net margin of 0.55% and a return on equity of 344.71%. The firm’s revenue was up 10.3% on a year-over-year basis. During the same period in the previous year, the firm posted $3.80 EPS. Research analysts anticipate that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 16th were given a dividend of $0.55 per share. The ex-dividend date was Friday, May 16th. This represents a $2.20 annualized dividend and a yield of 0.75%. Cencora’s payout ratio is presently 25.52%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Wells Fargo & Company raised Cencora from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $274.00 to $337.00 in a report on Tuesday, June 3rd. Bank of America raised their price target on Cencora from $270.00 to $285.00 and gave the stock a “neutral” rating in a report on Friday, April 11th. Jefferies Financial Group raised their price objective on shares of Cencora from $275.00 to $300.00 and gave the company a “hold” rating in a research report on Monday, June 30th. Citigroup upped their price target on Cencora from $330.00 to $355.00 and gave the stock a “buy” rating in a report on Thursday, May 8th. Finally, Robert W. Baird lifted their price objective on Cencora from $314.00 to $350.00 and gave the stock an “outperform” rating in a research report on Thursday, May 8th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Cencora currently has a consensus rating of “Moderate Buy” and a consensus target price of $309.83.

Insider Buying and Selling

In other Cencora news, Chairman Steven H. Collis sold 14,579 shares of the stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $292.62, for a total transaction of $4,266,106.98. Following the completion of the sale, the chairman directly owned 311,913 shares of the company’s stock, valued at $91,271,982.06. This trade represents a 4.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Robert P. Mauch sold 4,969 shares of Cencora stock in a transaction on 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 transaction, the chief executive officer directly owned 47,582 shares of the company’s stock, 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 90 days, insiders sold 34,127 shares of company stock valued at $9,812,296. Company insiders own 10.80% of the company’s stock.

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.