Massachusetts Financial Services Co. MA Cuts Stock Holdings in Cencora, Inc. (NYSE:COR)

Massachusetts Financial Services Co. MA decreased its holdings in Cencora, Inc. (NYSE:COR - Free Report) by 21.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 940,981 shares of the company's stock after selling 256,178 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.49% of Cencora worth $211,420,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Meeder Advisory Services Inc. boosted its position in shares of Cencora by 4.1% during the fourth quarter. Meeder Advisory Services Inc. now owns 4,058 shares of the company's stock valued at $912,000 after purchasing an additional 159 shares in the last quarter. Geode Capital Management LLC increased its holdings in Cencora by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 4,326,064 shares of the company's stock worth $969,471,000 after buying an additional 130,213 shares in the last quarter. HighPoint Advisor Group LLC raised its holdings in shares of Cencora by 4.2% during the fourth quarter. HighPoint Advisor Group LLC now owns 5,299 shares of the company's stock valued at $1,307,000 after purchasing an additional 215 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Cencora by 1.9% during the 4th quarter. Franklin Resources Inc. now owns 211,076 shares of the company's stock valued at $47,425,000 after buying an additional 3,945 shares during the period. Finally, B. Metzler seel. Sohn & Co. AG lifted its holdings in Cencora by 0.9% in the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 7,389 shares of the company's stock valued at $1,660,000 after acquiring an additional 69 shares during the period. Hedge funds and other institutional investors own 97.52% of the company's stock.

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Analyst Ratings Changes

A number of analysts have commented on COR shares. Wells Fargo & Company upped their target price on shares of Cencora from $251.00 to $274.00 and gave the company an "equal weight" rating in a report on Friday, March 14th. JPMorgan Chase & Co. upped their target price on shares of Cencora from $289.00 to $301.00 and gave the stock an "overweight" rating in a report on Friday, January 24th. Evercore ISI upped their target price on shares of Cencora from $270.00 to $280.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. Finally, StockNews.com upgraded Cencora from a "hold" rating to a "buy" rating in a report on Wednesday, March 12th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $280.20.

Cencora Trading Down 0.3 %

COR stock traded down $0.86 during trading on Wednesday, hitting $273.87. The company had a trading volume of 4,241,472 shares, compared to its average volume of 1,497,578. Cencora, Inc. has a 52-week low of $214.77 and a 52-week high of $296.65. The company has a 50 day simple moving average of $259.12 and a 200-day simple moving average of $244.21. The firm has a market capitalization of $53.11 billion, a P/E ratio of 38.96, a PEG ratio of 1.31 and a beta of 0.55. The company has a quick ratio of 0.54, a current ratio of 0.92 and a debt-to-equity ratio of 16.40.

Cencora (NYSE:COR - Get Free Report) last released its quarterly earnings data 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 return on equity of 328.62% and a net margin of 0.46%. As a group, research analysts forecast that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date was Friday, February 14th. Cencora's dividend payout ratio (DPR) is presently 31.29%.

Insider Transactions at Cencora

In related news, EVP Silvana Battaglia sold 5,000 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $242.24, for a total value of $1,211,200.00. Following the completion of the transaction, the executive vice president now directly owns 15,374 shares of the company's stock, valued at approximately $3,724,197.76. This represents a 24.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Lazarus Krikorian sold 2,000 shares of the company's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $260.06, for a total value of $520,120.00. Following the completion of the sale, the chief accounting officer now owns 20,154 shares of the company's stock, valued at $5,241,249.24. This trade represents a 9.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,675 shares of company stock valued at $8,034,778 in the last three months. 10.80% of the stock is currently owned by company insiders.

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.