Truist Financial Corp Grows Stock Position in Cencora, Inc. (NYSE:COR)

Truist Financial Corp lifted its position in Cencora, Inc. (NYSE:COR - Free Report) by 56.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 334,005 shares of the company's stock after buying an additional 120,998 shares during the quarter. Truist Financial Corp owned approximately 0.17% of Cencora worth $75,251,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Financial Advocates Investment Management raised its stake in Cencora by 4.7% in the second quarter. Financial Advocates Investment Management now owns 978 shares of the company's stock valued at $220,000 after purchasing an additional 44 shares in the last quarter. Checchi Capital Advisers LLC raised its stake in Cencora by 2.2% in the second quarter. Checchi Capital Advisers LLC now owns 2,217 shares of the company's stock valued at $499,000 after purchasing an additional 48 shares in the last quarter. Valeo Financial Advisors LLC raised its stake in Cencora by 3.4% in the second quarter. Valeo Financial Advisors LLC now owns 1,566 shares of the company's stock valued at $353,000 after purchasing an additional 51 shares in the last quarter. Evergreen Capital Management LLC raised its stake in Cencora by 4.7% in the second quarter. Evergreen Capital Management LLC now owns 1,147 shares of the company's stock valued at $258,000 after purchasing an additional 52 shares in the last quarter. Finally, Barlow Wealth Partners Inc. grew its position in Cencora by 5.4% during the second quarter. Barlow Wealth Partners Inc. now owns 1,339 shares of the company's stock valued at $303,000 after acquiring an additional 68 shares during the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Cencora Trading Down 1.2 %

NYSE:COR traded down $2.59 during trading hours on Wednesday, hitting $221.64. The company had a trading volume of 1,802,085 shares, compared to its average volume of 1,414,364. The company has a market capitalization of $44.21 billion, a PE ratio of 24.53, a price-to-earnings-growth ratio of 1.58 and a beta of 0.44. The stock has a 50-day moving average price of $234.97 and a 200 day moving average price of $232.50. Cencora, Inc. has a 52 week low of $178.46 and a 52 week high of $247.66. The company has a debt-to-equity ratio of 3.93, a current ratio of 0.89 and a quick ratio of 0.55.

Cencora (NYSE:COR - Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The company reported $3.34 earnings per share for the quarter, beating the consensus estimate of $3.18 by $0.16. The business had revenue of $74.20 billion for the quarter, compared to analysts' expectations of $73.32 billion. Cencora had a net margin of 0.65% and a return on equity of 266.60%. The firm's revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.92 earnings per share. On average, equities research analysts predict that Cencora, Inc. will post 13.63 EPS for the current fiscal year.

Cencora Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 0.92%. The ex-dividend date was Friday, August 9th. Cencora's dividend payout ratio is currently 22.32%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on COR. Wells Fargo & Company increased their price target on shares of Cencora from $236.00 to $249.00 and gave the company an "equal weight" rating in a research report on Thursday, August 1st. Bank of America reiterated a "neutral" rating and set a $245.00 price target (down from $275.00) on shares of Cencora in a research report on Wednesday, September 18th. JPMorgan Chase & Co. increased their price target on shares of Cencora from $280.00 to $287.00 and gave the company an "overweight" rating in a research report on Wednesday, August 21st. Leerink Partners reiterated an "outperform" rating and set a $275.00 price target on shares of Cencora in a research report on Thursday, June 27th. Finally, Robert W. Baird reduced their price target on shares of Cencora from $287.00 to $283.00 and set an "outperform" rating on the stock in a research report on Friday, September 6th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $256.67.

Insider Buying and Selling at Cencora

In other news, CEO Steven H. Collis sold 10,755 shares of Cencora stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $222.12, for a total value of $2,388,900.60. Following the completion of the transaction, the chief executive officer now owns 285,088 shares of the company's stock, valued at approximately $63,323,746.56. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Cencora news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the company's stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $240.56, for a total transaction of $1,067,646,415.76. Following the transaction, the insider now owns 19,980,000 shares in the company, valued at approximately $4,806,388,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Steven H. Collis sold 10,755 shares of the company's stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $222.12, for a total transaction of $2,388,900.60. Following the transaction, the chief executive officer now owns 285,088 shares in the company, valued at approximately $63,323,746.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,450,399 shares of company stock valued at $1,070,392,799. 15.80% 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.