32,605 Cencora, Inc. $COR Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. trimmed its holdings in Cencora, Inc. (NYSE:COR) by 3.1% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 1,004,960 shares of the company’s stock after selling 32,605 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Cencora were worth $301,739,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in COR. BlackRock Inc. bought a new position in shares of Cencora during the 2nd quarter valued at $5,154,136,000. Bank of America Corp DE raised its position in Cencora by 6.9% in the 1st quarter. Bank of America Corp DE now owns 4,138,388 shares of the company’s stock worth $1,300,033,000 after purchasing an additional 267,318 shares during the period. Amundi lifted its stake in Cencora by 43.5% in the second quarter. Amundi now owns 2,229,326 shares of the company’s stock worth $630,855,000 after purchasing an additional 676,066 shares during the last quarter. Carmignac Gestion lifted its stake in Cencora by 58.7% in the second quarter. Carmignac Gestion now owns 1,747,363 shares of the company’s stock worth $494,463,000 after purchasing an additional 646,112 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Cencora in the second quarter worth $483,772,000. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Insider Activity at Cencora

In other news, EVP Elizabeth Campbell sold 11,300 shares of the stock in a transaction dated 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 directly owned 19,455 shares in the company, valued at approximately $6,305,754.60. This represents a 36.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

COR has been the subject of several analyst reports. Citigroup restated a “buy” rating on shares of Cencora in a research report on Thursday, August 6th. Bank of America lifted their price objective on Cencora from $285.00 to $310.00 in a report on Tuesday, July 21st. Argus boosted their target price on Cencora from $340.00 to $380.00 and gave the company a “buy” rating in a research note on Tuesday, October 20th. Morgan Stanley increased their target price on Cencora from $346.00 to $377.00 and gave the company an “overweight” rating in a report on Friday. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a $330.00 target price on shares of Cencora in a report on Tuesday, September 8th. Fourteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $368.38.

Cencora Trading Up 0.1%

NYSE:COR opened at $330.70 on Friday. The company has a fifty day moving average of $323.34 and a 200 day moving average of $317.53. Cencora, Inc. has a 52 week low of $244.82 and a 52 week high of $377.54. The company has a quick ratio of 0.58, a current ratio of 0.93 and a debt-to-equity ratio of 3.53. The firm has a market capitalization of $63.11 billion, a P/E ratio of 24.57, a P/E/G ratio of 1.69 and a beta of 0.58.

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

Cencora Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Friday, August 14th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, August 14th. Cencora’s dividend payout ratio is 17.83%.

Cencora Company 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.