Cencora, Inc. $COR Shares Sold by TIAA Trust National Association

TIAA Trust National Association decreased its position in Cencora, Inc. (NYSE:COR) by 85.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,700 shares of the company’s stock after selling 61,024 shares during the quarter. TIAA Trust National Association’s holdings in Cencora were worth $3,208,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of COR. Voleon Capital Management LP bought a new stake in Cencora in the first quarter valued at $3,111,000. Focus Partners Wealth increased its holdings in shares of Cencora by 25.8% during the first quarter. Focus Partners Wealth now owns 5,715 shares of the company’s stock valued at $1,589,000 after purchasing an additional 1,171 shares during the period. Martin Capital Partners LLC increased its holdings in shares of Cencora by 205.2% during the second quarter. Martin Capital Partners LLC now owns 3,784 shares of the company’s stock valued at $1,135,000 after purchasing an additional 2,544 shares during the period. Fiduciary Alliance LLC acquired a new position in shares of Cencora during the second quarter valued at $262,000. Finally, Ascent Group LLC increased its holdings in shares of Cencora by 42.7% during the first quarter. Ascent Group LLC now owns 12,586 shares of the company’s stock valued at $3,500,000 after purchasing an additional 3,764 shares during the period. Institutional investors and hedge funds own 97.52% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on COR. Mizuho raised their price target on Cencora from $334.00 to $340.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Wells Fargo & Company raised their price target on Cencora from $337.00 to $354.00 and gave the company an “overweight” rating in a report on Wednesday, August 13th. Weiss Ratings reissued a “buy (b-)” rating on shares of Cencora in a report on Thursday, October 30th. Wall Street Zen lowered Cencora from a “buy” rating to a “hold” rating in a report on Saturday, October 11th. Finally, UBS Group raised their price target on Cencora from $350.00 to $380.00 and gave the company a “buy” rating in a report on Monday, October 27th. Nine equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $329.55.

Insider Transactions at Cencora

In related news, Chairman Steven H. Collis sold 31,350 shares of Cencora stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $289.86, for a total value of $9,087,111.00. Following the transaction, the chairman owned 305,913 shares of the company’s stock, valued at approximately $88,671,942.18. This trade represents a 9.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Robert P. Mauch sold 5,097 shares of Cencora stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $326.80, for a total value of $1,665,699.60. Following the completion of the transaction, the chief executive officer directly owned 37,940 shares in the company, valued at $12,398,792. This represents a 11.84% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 41,544 shares of company stock worth $12,230,941 in the last three months. 10.80% of the stock is currently owned by company insiders.

Cencora Price Performance

NYSE:COR opened at $340.74 on Tuesday. The business’s 50-day moving average price is $309.14 and its 200 day moving average price is $297.57. The firm has a market cap of $66.06 billion, a P/E ratio of 35.06, a PEG ratio of 1.56 and a beta of 0.63. Cencora, Inc. has a 52-week low of $223.92 and a 52-week high of $350.46. The company has a quick ratio of 0.53, a current ratio of 0.90 and a debt-to-equity ratio of 3.64.

Cencora (NYSE:COR) last released its earnings results on Wednesday, August 6th. The company reported $4.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.79 by $0.21. The firm had revenue of $80.66 billion for the quarter, compared to analyst estimates of $80.34 billion. Cencora had a return on equity of 267.36% and a net margin of 0.60%.Cencora’s revenue was up 8.7% compared to the same quarter last year. During the same period in the previous year, the company earned $3.34 earnings per share. As a group, sell-side analysts predict that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Friday, August 15th were paid a $0.55 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.20 dividend on an annualized basis and a yield of 0.6%. Cencora’s dividend payout ratio (DPR) is currently 22.63%.

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.