Allspring Global Investments Holdings LLC Sells 40,638 Shares of Cencora, Inc. $COR

Allspring Global Investments Holdings LLC reduced its position in Cencora, Inc. (NYSE:COR) by 9.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 383,068 shares of the company’s stock after selling 40,638 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.20% of Cencora worth $129,810,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. United Bank increased its holdings in shares of Cencora by 4.5% in the second quarter. United Bank now owns 7,032 shares of the company’s stock worth $2,109,000 after purchasing an additional 305 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in Cencora by 8.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 15,861 shares of the company’s stock worth $4,756,000 after acquiring an additional 1,184 shares during the last quarter. Scotia Capital Inc. raised its holdings in shares of Cencora by 40.0% in the 2nd quarter. Scotia Capital Inc. now owns 10,980 shares of the company’s stock valued at $3,292,000 after acquiring an additional 3,139 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in shares of Cencora in the 2nd quarter valued at about $241,000. Finally, New York State Common Retirement Fund boosted its position in shares of Cencora by 20.2% during the 2nd quarter. New York State Common Retirement Fund now owns 139,971 shares of the company’s stock valued at $41,970,000 after acquiring an additional 23,477 shares during the last quarter. Institutional investors own 97.52% of the company’s stock.

Cencora Stock Down 0.8%

Shares of COR opened at $309.84 on Tuesday. Cencora, Inc. has a 1 year low of $267.40 and a 1 year high of $377.54. The company has a debt-to-equity ratio of 3.62, a current ratio of 0.92 and a quick ratio of 0.51. The stock has a 50 day simple moving average of $351.15 and a two-hundred day simple moving average of $341.17. The firm has a market cap of $60.27 billion, a P/E ratio of 37.24, a P/E/G ratio of 1.46 and a beta of 0.68.

Cencora (NYSE:COR) last posted its quarterly earnings results on Wednesday, February 4th. The company reported $4.08 EPS for the quarter, topping the consensus estimate of $4.04 by $0.04. Cencora had a net margin of 0.50% and a return on equity of 176.54%. The firm had revenue of $85.93 billion for the quarter, compared to the consensus estimate of $86.12 billion. During the same period last year, the firm posted $3.73 earnings per share. The business’s revenue was up 5.5% compared to the same quarter last year. On average, analysts forecast that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Friday, February 13th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 0.8%. The ex-dividend date was Friday, February 13th. Cencora’s dividend payout ratio (DPR) is presently 28.85%.

Insider Transactions at Cencora

In other Cencora news, CEO Robert P. Mauch sold 5,096 shares of Cencora 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 $23,669,713.98. The trade was a 7.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.38% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on COR shares. Jefferies Financial Group raised Cencora from an “underperform” rating to a “buy” rating in a report on Thursday, January 22nd. Robert W. Baird set a $415.00 target price on shares of Cencora in a research report on Tuesday, January 13th. Weiss Ratings raised shares of Cencora from a “hold (c+)” rating to a “buy (b)” rating in a research note on Thursday, February 5th. Leerink Partners reissued an “outperform” rating on shares of Cencora in a report on Tuesday, March 17th. Finally, Bank of America lowered their price objective on shares of Cencora from $380.00 to $360.00 and set a “neutral” rating on the stock in a research report on Monday, January 5th. Twelve investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $403.17.

Cencora Profile

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.