PNC Financial Services Group Inc. Sells 7,740 Shares of Cencora, Inc. (NYSE:COR)

PNC Financial Services Group Inc. trimmed its position in Cencora, Inc. (NYSE:COR) by 3.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 214,747 shares of the company’s stock after selling 7,740 shares during the period. PNC Financial Services Group Inc. owned about 0.11% of Cencora worth $48,249,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. JFS Wealth Advisors LLC boosted its position in shares of Cencora by 63.0% in the 4th quarter. JFS Wealth Advisors LLC now owns 119 shares of the company’s stock worth $27,000 after purchasing an additional 46 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Cencora in the 4th quarter worth $30,000. Householder Group Estate & Retirement Specialist LLC boosted its position in shares of Cencora by 85.2% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 150 shares of the company’s stock worth $33,000 after purchasing an additional 69 shares during the last quarter. Kentucky Trust Co bought a new position in shares of Cencora in the 4th quarter worth $33,000. Finally, WASHINGTON TRUST Co boosted its position in shares of Cencora by 37.7% in the 4th quarter. WASHINGTON TRUST Co now owns 168 shares of the company’s stock worth $38,000 after purchasing an additional 46 shares during the last quarter. 97.52% of the stock is currently owned by institutional investors.

Cencora Stock Performance

COR opened at $254.54 on Monday. The business’s 50-day moving average price is $244.34 and its two-hundred day moving average price is $238.39. Cencora, Inc. has a 1 year low of $214.77 and a 1 year high of $262.26. The company has a market capitalization of $49.36 billion, a price-to-earnings ratio of 36.21, a P/E/G ratio of 1.31 and a beta of 0.51. The company has a debt-to-equity ratio of 16.40, a current ratio of 0.92 and a quick ratio of 0.54.

Cencora (NYSE:COR) last released its quarterly earnings results 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 return on equity of 328.62% and a net margin of 0.46%. Equities analysts expect that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend was Friday, February 14th. Cencora’s dividend payout ratio is 31.29%.

Analyst Ratings Changes

Several research analysts have recently issued reports on COR shares. JPMorgan Chase & Co. raised their price target on Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. StockNews.com lowered Cencora from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. Evercore ISI raised their price target on Cencora from $270.00 to $280.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Wells Fargo & Company raised their price objective on Cencora from $237.00 to $251.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 29th. Finally, Mizuho started coverage on Cencora in a research note on Wednesday, December 4th. They set an “outperform” rating and a $280.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Cencora presently has an average rating of “Moderate Buy” and a consensus target price of $277.90.

Insider Buying and Selling at Cencora

In related news, CEO Robert P. Mauch sold 4,970 shares of Cencora stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $255.00, for a total value of $1,267,350.00. Following the sale, the chief executive officer now owns 51,070 shares of the company’s stock, valued at approximately $13,022,850. The trade was a 8.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Silvana Battaglia sold 5,000 shares of Cencora stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $242.24, for a total value of $1,211,200.00. Following the completion of the sale, the executive vice president now directly owns 15,374 shares in the company, valued at approximately $3,724,197.76. This represents a 24.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,648 shares of company stock valued at $2,862,342 in the last 90 days. 10.80% of the stock is currently owned by company insiders.

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.