Cencora, Inc. (NYSE:COR) Shares Sold by Bell Asset Management Ltd

Bell Asset Management Ltd lessened its position in shares of Cencora, Inc. (NYSE:COR) by 25.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 34,716 shares of the company’s stock after selling 11,565 shares during the period. Cencora comprises 1.4% of Bell Asset Management Ltd’s portfolio, making the stock its 17th largest position. Bell Asset Management Ltd’s holdings in Cencora were worth $7,800,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in COR. Boston Partners lifted its stake in Cencora by 2.6% during the fourth quarter. Boston Partners now owns 5,007,100 shares of the company’s stock worth $1,128,058,000 after purchasing an additional 125,611 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Cencora by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 4,326,064 shares of the company’s stock worth $969,471,000 after purchasing an additional 130,213 shares during the period. Pacer Advisors Inc. lifted its position in shares of Cencora by 6.7% in the 4th quarter. Pacer Advisors Inc. now owns 2,204,242 shares of the company’s stock worth $495,249,000 after buying an additional 138,868 shares during the last quarter. Norges Bank acquired a new position in shares of Cencora in the 4th quarter valued at about $478,309,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Cencora during the 4th quarter valued at about $322,460,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on COR. Wells Fargo & Company lifted their target price on Cencora from $251.00 to $274.00 and gave the company an “equal weight” rating in a research note on Friday, March 14th. Evercore ISI raised their target price on Cencora from $270.00 to $280.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. upped their price target on shares of Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Finally, StockNews.com upgraded shares of Cencora from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Cencora has an average rating of “Moderate Buy” and an average price target of $280.20.

Cencora Stock Performance

Shares of COR opened at $279.29 on Monday. The firm has a market capitalization of $54.16 billion, a PE ratio of 39.73, a P/E/G ratio of 1.31 and a beta of 0.55. 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 firm has a 50-day moving average price of $257.28 and a 200 day moving average price of $242.81. Cencora, Inc. has a 52-week low of $214.77 and a 52-week high of $296.65.

Cencora (NYSE:COR) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $3.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.50 by $0.23. Cencora had a net margin of 0.46% and a return on equity of 328.62%. On average, sell-side analysts anticipate that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 0.79%. The ex-dividend date was Friday, February 14th. Cencora’s dividend payout ratio (DPR) is presently 31.29%.

Insider Transactions at Cencora

In other Cencora news, Chairman Steven H. Collis sold 14,578 shares of the company’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $269.51, for a total value of $3,928,916.78. Following the completion of the sale, the chairman now directly owns 317,913 shares of the company’s stock, valued at approximately $85,680,732.63. This represents a 4.38 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Elizabeth S. Campbell sold 4,127 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $268.28, for a total transaction of $1,107,191.56. Following the transaction, the executive vice president now owns 14,665 shares of the company’s stock, valued at approximately $3,934,326.20. This trade represents a 21.96 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,675 shares of company stock valued at $8,034,778. Corporate insiders own 10.80% of the company’s stock.

Cencora Company 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.