Cencora, Inc. (NYSE:COR) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its stake in Cencora, Inc. (NYSE:COR) by 1.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,181,714 shares of the company’s stock after selling 21,188 shares during the quarter. Bank of New York Mellon Corp owned about 0.61% of Cencora worth $265,508,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Pacer Advisors Inc. lifted its stake in shares of Cencora by 6,855.3% in the 3rd quarter. Pacer Advisors Inc. now owns 2,065,374 shares of the company’s stock valued at $464,874,000 after purchasing an additional 2,035,679 shares in the last quarter. Wellington Management Group LLP raised its holdings in Cencora by 7.0% in the third quarter. Wellington Management Group LLP now owns 5,193,386 shares of the company’s stock valued at $1,168,927,000 after buying an additional 338,452 shares during the period. Nordea Investment Management AB raised its holdings in Cencora by 40.2% in the fourth quarter. Nordea Investment Management AB now owns 1,077,272 shares of the company’s stock valued at $243,173,000 after buying an additional 308,773 shares during the period. Two Sigma Advisers LP lifted its position in Cencora by 21.7% during the third quarter. Two Sigma Advisers LP now owns 1,638,400 shares of the company’s stock valued at $368,771,000 after buying an additional 292,600 shares in the last quarter. Finally, State Street Corp grew its stake in Cencora by 3.8% during the third quarter. State Street Corp now owns 8,045,896 shares of the company’s stock worth $1,810,970,000 after buying an additional 291,867 shares during the period. 97.52% of the stock is owned by hedge funds and other institutional investors.

Cencora Price Performance

COR stock opened at $250.78 on Thursday. The company has a market capitalization of $48.63 billion, a PE ratio of 35.67, a P/E/G ratio of 1.31 and a beta of 0.49. The company has a quick ratio of 0.54, a current ratio of 0.92 and a debt-to-equity ratio of 16.40. The stock’s 50 day moving average is $240.27 and its two-hundred day moving average is $237.56. Cencora, Inc. has a 52-week low of $214.77 and a 52-week high of $262.26.

Cencora (NYSE:COR) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.50 by $0.23. Cencora had a net margin of 0.46% and a return on equity of 328.62%. Analysts predict that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.20 annualized dividend and a dividend yield of 0.88%. Cencora’s payout ratio is 31.29%.

Analysts Set New Price Targets

COR has been the topic of several recent research reports. Robert W. Baird lifted their target price on shares of Cencora from $287.00 to $292.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Barclays boosted their price objective on Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Wells Fargo & Company upped their target price on Cencora from $237.00 to $251.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 29th. Mizuho started coverage on Cencora in a report on Wednesday, December 4th. They set an “outperform” rating and a $280.00 target price on the stock. Finally, Evercore ISI upped their price target on Cencora from $270.00 to $280.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Cencora currently has a consensus rating of “Moderate Buy” and a consensus target price of $277.90.

Insider Transactions at Cencora

In other Cencora news, EVP Silvana Battaglia sold 1,678 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $228.72, for a total transaction of $383,792.16. Following the sale, the executive vice president now owns 20,329 shares in the company, valued at $4,649,648.88. This represents a 7.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 10.80% of the company’s stock.

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.