Kayne Anderson Rudnick Investment Management LLC Lowers Stake in Cencora, Inc. (NYSE:COR)

Kayne Anderson Rudnick Investment Management LLC trimmed its holdings in shares of Cencora, Inc. (NYSE:COR - Free Report) by 18.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 12,481 shares of the company's stock after selling 2,740 shares during the period. Kayne Anderson Rudnick Investment Management LLC's holdings in Cencora were worth $2,804,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Boston Partners increased its position in Cencora by 2.6% during the fourth quarter. Boston Partners now owns 5,007,100 shares of the company's stock valued at $1,128,058,000 after acquiring an additional 125,611 shares during the last quarter. Geode Capital Management LLC boosted 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 during the period. Invesco Ltd. grew its position in shares of Cencora by 20.4% during the fourth quarter. Invesco Ltd. now owns 3,243,531 shares of the company's stock worth $728,757,000 after purchasing an additional 550,246 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of Cencora by 6.7% during the fourth quarter. Pacer Advisors Inc. now owns 2,204,242 shares of the company's stock valued at $495,249,000 after buying an additional 138,868 shares during the last quarter. Finally, Norges Bank bought a new stake in Cencora in the 4th quarter valued at $478,309,000. Hedge funds and other institutional investors own 97.52% of the company's stock.

Insiders Place Their Bets

In other Cencora news, CEO Robert P. Mauch sold 4,969 shares of Cencora stock in a transaction on Monday, April 21st. The stock was sold at an average price of $289.33, for a total transaction of $1,437,680.77. Following the completion of the sale, the chief executive officer now directly owns 47,582 shares of the company's stock, valued at $13,766,900.06. The trade was a 9.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction, the executive vice president now directly owns 15,374 shares in the company, valued at $3,724,197.76. The trade was a 24.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 50,223 shares of company stock worth $13,580,967 in the last three months. Corporate insiders own 10.80% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on COR. Bank of America upped their price objective on Cencora from $270.00 to $285.00 and gave the stock a "neutral" rating in a report on Friday, April 11th. StockNews.com upgraded shares of Cencora from a "hold" rating to a "buy" rating in a research report on Wednesday, March 12th. Morgan Stanley set a $288.00 price objective on shares of Cencora in a research note on Tuesday, April 15th. 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 research report on Friday, March 14th. Finally, Evercore ISI lifted 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. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $284.55.

Cencora Trading Down 1.0 %

Shares of NYSE:COR traded down $2.82 during trading hours on Thursday, hitting $281.89. 1,927,932 shares of the company's stock traded hands, compared to its average volume of 1,516,720. The firm has a market capitalization of $54.66 billion, a P/E ratio of 40.10, a price-to-earnings-growth ratio of 1.31 and a beta of 0.55. The business has a fifty day moving average price of $266.42 and a 200-day moving average price of $248.28. Cencora, Inc. has a 1 year low of $214.77 and a 1 year high of $296.65. 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 - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $3.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 earnings per share for the current year.

Cencora Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a $0.55 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.20 dividend on an annualized basis and a yield of 0.78%. Cencora's dividend payout ratio is currently 31.29%.

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.