Principal Financial Group Inc. Sells 11,618 Shares of Cencora, Inc. $COR

Principal Financial Group Inc. lowered its holdings in shares of Cencora, Inc. (NYSE:COR) by 4.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 248,162 shares of the company’s stock after selling 11,618 shares during the quarter. Principal Financial Group Inc. owned approximately 0.13% of Cencora worth $77,558,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Cornerstone Wealth Group LLC raised its position in shares of Cencora by 1.3% during the 3rd quarter. Cornerstone Wealth Group LLC now owns 2,383 shares of the company’s stock valued at $745,000 after purchasing an additional 30 shares during the period. Security Financial Services INC. boosted its position in shares of Cencora by 2.6% during the 3rd quarter. Security Financial Services INC. now owns 1,325 shares of the company’s stock valued at $414,000 after acquiring an additional 33 shares during the last quarter. Atlantic Edge Private Wealth Management LLC raised its position in shares of Cencora by 70.0% during the 2nd quarter. Atlantic Edge Private Wealth Management LLC now owns 85 shares of the company’s stock valued at $25,000 after buying an additional 35 shares in the last quarter. Hemington Wealth Management lifted its stake in shares of Cencora by 12.0% in the 3rd quarter. Hemington Wealth Management now owns 327 shares of the company’s stock valued at $102,000 after purchasing an additional 35 shares during the last quarter. Finally, Quadcap Wealth Management LLC increased its position in Cencora by 1.5% during the second quarter. Quadcap Wealth Management LLC now owns 2,409 shares of the company’s stock valued at $722,000 after acquiring an additional 36 shares during the last quarter. 97.52% of the stock is owned by institutional investors.

Insider Activity

In other Cencora news, EVP Elizabeth S. Campbell sold 3,351 shares of the business’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $342.10, for a total value of $1,146,377.10. Following the transaction, the executive vice president directly owned 23,891 shares of the company’s stock, valued at approximately $8,173,111.10. The trade was a 12.30% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Robert P. Mauch sold 5,096 shares of the stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $354.73, for a total value of $1,807,704.08. Following the transaction, the chief executive officer directly owned 66,726 shares of the company’s stock, valued at approximately $23,669,713.98. This trade represents a 7.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 20,316 shares of company stock valued at $7,151,265. Insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on COR shares. UBS Group upped their price target on shares of Cencora from $380.00 to $415.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Bank of America lowered their price target on shares of Cencora from $380.00 to $360.00 and set a “neutral” rating on the stock in a report on Monday, January 5th. TD Cowen raised their price target on Cencora from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Monday, November 10th. Mizuho boosted their price objective on shares of Cencora from $340.00 to $380.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Cencora in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $393.08.

Cencora Stock Performance

NYSE:COR opened at $362.23 on Wednesday. The company has a debt-to-equity ratio of 4.32, a quick ratio of 0.55 and a current ratio of 0.90. The stock has a market capitalization of $70.27 billion, a P/E ratio of 45.56, a PEG ratio of 1.73 and a beta of 0.68. The company has a 50 day moving average price of $347.21 and a 200 day moving average price of $325.24. Cencora, Inc. has a fifty-two week low of $237.71 and a fifty-two week high of $377.54.

Cencora (NYSE:COR) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $3.84 EPS for the quarter, topping the consensus estimate of $3.79 by $0.05. Cencora had a net margin of 0.48% and a return on equity of 227.15%. The company had revenue of $83.73 billion during the quarter, compared to analysts’ expectations of $83.36 billion. During the same quarter in the previous year, the business posted $3.34 EPS. The firm’s revenue was up 5.9% on a year-over-year basis. Equities research analysts forecast that Cencora, Inc. will post 15.37 EPS for the current year.

About Cencora

Cencora (NYSE:COR) is a global healthcare services and pharmaceutical distribution company that provides end-to-end solutions across the pharmaceutical supply chain. The company’s core activities include wholesale drug distribution, specialty drug distribution, and the operation of specialty pharmacies, complemented by logistics, cold-chain management and other fulfillment services designed to support complex and temperature-sensitive therapies.

Beyond physical distribution, Cencora offers a range of commercial and patient-focused services for pharmaceutical manufacturers and healthcare providers.