Cencora, Inc. (NYSE:COR) Holdings Decreased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its stake in shares of Cencora, Inc. (NYSE:COR) by 21.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 162,288 shares of the company’s stock after selling 44,871 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.08% of Cencora worth $36,564,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Callan Family Office LLC bought a new stake in Cencora during the second quarter worth approximately $290,000. Verdence Capital Advisors LLC boosted its stake in shares of Cencora by 2.2% during the 2nd quarter. Verdence Capital Advisors LLC now owns 23,571 shares of the company’s stock worth $5,311,000 after acquiring an additional 507 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Cencora by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,205,673 shares of the company’s stock worth $271,638,000 after acquiring an additional 4,697 shares during the last quarter. New Millennium Group LLC acquired a new stake in shares of Cencora during the second quarter worth $26,000. Finally, First Heartland Consultants Inc. lifted its holdings in shares of Cencora by 13.1% during the second quarter. First Heartland Consultants Inc. now owns 2,209 shares of the company’s stock valued at $498,000 after purchasing an additional 256 shares during the last quarter. 97.52% of the stock is currently owned by institutional investors.

Cencora Stock Performance

COR stock traded down $0.54 during trading on Tuesday, reaching $233.90. 61,825 shares of the stock were exchanged, compared to its average volume of 1,360,570. Cencora, Inc. has a twelve month low of $171.65 and a twelve month high of $247.66. The company has a current ratio of 0.89, a quick ratio of 0.53 and a debt-to-equity ratio of 3.93. The company has a market capitalization of $46.65 billion, a P/E ratio of 25.65, a price-to-earnings-growth ratio of 1.68 and a beta of 0.45. The stock has a 50 day simple moving average of $231.84 and a 200-day simple moving average of $232.79.

Cencora (NYSE:COR) last released its quarterly earnings data on Wednesday, July 31st. The company reported $3.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.18 by $0.16. The business had revenue of $74.20 billion for the quarter, compared to analysts’ expectations of $73.32 billion. Cencora had a return on equity of 266.60% and a net margin of 0.65%. Cencora’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the business posted $2.92 earnings per share. As a group, sell-side analysts anticipate that Cencora, Inc. will post 13.56 earnings per share for the current year.

Cencora Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were paid a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.04 annualized dividend and a yield of 0.87%. Cencora’s dividend payout ratio is 22.32%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on COR shares. Citigroup lifted their price target on Cencora from $265.00 to $280.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. StockNews.com raised Cencora from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Wells Fargo & Company increased their price objective on Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Leerink Partners reiterated an “outperform” rating and set a $275.00 price target on shares of Cencora in a report on Thursday, June 27th. Finally, Robert W. Baird increased their price target on shares of Cencora from $285.00 to $287.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy 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 $258.63.

Insider Transactions at Cencora

In other Cencora news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $240.56, for a total value of $1,067,646,415.76. Following the completion of the sale, the insider now owns 19,980,000 shares in the company, valued at approximately $4,806,388,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Silvana Battaglia sold 1,473 shares of Cencora stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total transaction of $357,482.37. Following the transaction, the executive vice president now owns 10,948 shares of the company’s stock, valued at approximately $2,656,970.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $240.56, for a total transaction of $1,067,646,415.76. Following the completion of the sale, the insider now directly owns 19,980,000 shares of the company’s stock, valued at approximately $4,806,388,800. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,479,366 shares of company stock valued at $1,076,666,297. Corporate insiders own 15.80% 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.