Bank of New York Mellon Corp Sells 21,188 Shares of Cencora, Inc. (NYSE:COR)

Bank of New York Mellon Corp lessened its position in shares of Cencora, Inc. (NYSE:COR - Free Report) by 1.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,181,714 shares of the company's stock after selling 21,188 shares during the period. Bank of New York Mellon Corp owned 0.61% of Cencora worth $265,508,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Venturi Wealth Management LLC boosted its position in Cencora by 1.0% during the third quarter. Venturi Wealth Management LLC now owns 4,447 shares of the company's stock worth $1,001,000 after purchasing an additional 46 shares during the period. Prime Capital Investment Advisors LLC boosted its holdings in Cencora by 1.2% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 3,768 shares of the company's stock worth $848,000 after buying an additional 46 shares during the period. Shepherd Financial Partners LLC boosted its holdings in Cencora by 0.9% in the 4th quarter. Shepherd Financial Partners LLC now owns 5,441 shares of the company's stock worth $1,223,000 after buying an additional 46 shares during the period. WASHINGTON TRUST Co grew its stake in Cencora by 37.7% in the 4th quarter. WASHINGTON TRUST Co now owns 168 shares of the company's stock valued at $38,000 after buying an additional 46 shares in the last quarter. Finally, JFS Wealth Advisors LLC lifted its position in shares of Cencora by 63.0% during the fourth quarter. JFS Wealth Advisors LLC now owns 119 shares of the company's stock worth $27,000 after acquiring an additional 46 shares in the last quarter. Institutional investors own 97.52% of the company's stock.

Insider Activity

In related news, EVP Silvana Battaglia sold 1,678 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $228.72, for a total transaction of $383,792.16. Following the sale, the executive vice president now directly owns 20,329 shares of the company's stock, valued at approximately $4,649,648.88. This represents a 7.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 10.80% of the company's stock.

Cencora Price Performance

Shares of COR stock traded up $4.48 during trading hours on Friday, hitting $253.49. 2,163,933 shares of the company's stock were exchanged, compared to its average volume of 1,503,591. The company has a market capitalization of $49.16 billion, a PE ratio of 36.06, a PEG ratio of 1.31 and a beta of 0.49. The company has a current ratio of 0.92, a quick ratio of 0.54 and a debt-to-equity ratio of 16.40. Cencora, Inc. has a 12-month low of $214.77 and a 12-month high of $262.26. The business's 50 day simple moving average is $241.71 and its 200-day simple moving average is $237.85.

Cencora (NYSE:COR - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share 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, equities research analysts anticipate that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.87%. Cencora's dividend payout ratio is currently 31.29%.

Wall Street Analysts Forecast Growth

COR has been the topic of a number of analyst reports. Evercore ISI boosted their price objective on Cencora from $270.00 to $280.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Mizuho assumed coverage on shares of Cencora in a report on Wednesday, December 4th. They issued an "outperform" rating and a $280.00 price target on the stock. Wells Fargo & Company boosted their price objective on shares of Cencora from $237.00 to $251.00 and gave the company an "equal weight" rating in a research note on Wednesday, January 29th. Barclays increased their target price on shares of Cencora from $263.00 to $290.00 and gave the stock an "overweight" rating in a research note on Thursday, November 7th. Finally, 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 report on Friday, January 24th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $277.90.

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.