46,057 Cencora, Inc. $COR Shares Sold by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. trimmed its position in shares of Cencora, Inc. (NYSE:COR) by 50.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 45,458 shares of the company’s stock after selling 46,057 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Cencora were worth $13,649,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. BlackRock Inc. bought a new position in Cencora during the second quarter valued at approximately $5,154,136,000. Bank of America Corp DE acquired a new stake in shares of Cencora in the second quarter valued at about $1,056,625,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Cencora during the second quarter worth approximately $483,772,000. Legal & General Group Plc bought a new stake in Cencora in the 2nd quarter valued at $339,556,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Cencora in the second quarter valued at about $313,668,000. 97.52% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Cencora news, EVP Elizabeth Campbell sold 11,300 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $324.12, for a total transaction of $3,662,556.00. Following the completion of the sale, the executive vice president owned 19,455 shares of the company’s stock, valued at approximately $6,305,754.60. This represents a 36.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.38% of the company’s stock.

Cencora Stock Performance

NYSE COR opened at $330.77 on Friday. The firm’s 50 day simple moving average is $322.35 and its 200 day simple moving average is $304.06. The firm has a market capitalization of $63.12 billion, a price-to-earnings ratio of 19.74, a P/E/G ratio of 1.73 and a beta of 0.58. The company has a current ratio of 0.93, a quick ratio of 0.58 and a debt-to-equity ratio of 3.53. Cencora, Inc. has a 1 year low of $244.82 and a 1 year high of $377.54.

Cencora (NYSE:COR) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $4.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.35 by $0.13. The company had revenue of $84.75 billion for the quarter, compared to analyst estimates of $84.31 billion. Cencora had a net margin of 0.79% and a return on equity of 125.45%. The firm’s revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the firm posted $4.00 EPS. As a group, research analysts expect that Cencora, Inc. will post 17.87 earnings per share for the current fiscal year.

Cencora Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Friday, August 14th were issued a $0.60 dividend. The ex-dividend date was Friday, August 14th. This represents a $2.40 annualized dividend and a yield of 0.7%. Cencora’s dividend payout ratio is presently 17.83%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Argus boosted their price target on shares of Cencora from $340.00 to $380.00 and gave the company a “buy” rating in a report on Tuesday. Wall Street Zen raised shares of Cencora from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Citigroup reaffirmed a “buy” rating on shares of Cencora in a research note on Thursday, August 6th. Morgan Stanley increased their target price on Cencora from $342.00 to $346.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Finally, Evercore restated an “outperform” rating and issued a $350.00 price objective (up from $330.00) on shares of Cencora in a research report on Thursday, August 6th. Fourteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Cencora has a consensus rating of “Moderate Buy” and a consensus target price of $366.44.

Cencora Profile

Cencora, formerly known as AmerisourceBergen, is a global pharmaceutical sourcing and distribution company. It provides branded, generic and specialty pharmaceuticals, over-the-counter products and related health care supplies to pharmacies, hospitals, health systems, physician practices and other health care providers.

The company also offers services to pharmaceutical and biotechnology manufacturers, including logistics, commercialization support, market access, consulting, clinical trial support and patient assistance programs.