Mirae Asset Global Investments Co. Ltd. Reduces Stock Holdings in Cencora, Inc. (NYSE:COR)

Mirae Asset Global Investments Co. Ltd. cut its stake in shares of Cencora, Inc. (NYSE:COR - Free Report) by 13.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,754 shares of the company's stock after selling 4,446 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Cencora were worth $6,243,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of COR. New Millennium Group LLC acquired a new position in Cencora during the 2nd quarter worth about $26,000. TCTC Holdings LLC acquired a new position in shares of Cencora in the 1st quarter valued at about $29,000. TFO Wealth Partners LLC acquired a new position in shares of Cencora in the 1st quarter valued at about $30,000. MFA Wealth Advisors LLC acquired a new position in shares of Cencora in the 2nd quarter valued at about $30,000. Finally, LRI Investments LLC acquired a new position in shares of Cencora in the 1st quarter valued at about $31,000. 97.52% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Silvana Battaglia sold 1,473 shares of the company's stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $242.69, for a total value of $357,482.37. Following the completion of the transaction, the executive vice president now directly owns 10,948 shares of the company's stock, valued at $2,656,970.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, EVP Silvana Battaglia sold 1,473 shares of the company's stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $242.69, for a total value of $357,482.37. Following the completion of the transaction, the executive vice president now directly owns 10,948 shares of the company's stock, valued at $2,656,970.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Steven H. Collis sold 21,509 shares of the company's stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $235.80, for a total value of $5,071,822.20. Following the completion of the transaction, the chairman now directly owns 285,088 shares of the company's stock, valued at approximately $67,223,750.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,461,153 shares of company stock valued at $1,073,075,720 over the last three months. Corporate insiders own 15.80% of the company's stock.

Cencora Stock Down 0.8 %

COR traded down $1.78 during midday trading on Tuesday, reaching $231.79. 966,435 shares of the company were exchanged, compared to its average volume of 1,406,217. The company has a debt-to-equity ratio of 3.93, a quick ratio of 0.55 and a current ratio of 0.89. The company's fifty day moving average price is $232.04 and its 200 day moving average price is $230.75. The company has a market cap of $46.23 billion, a price-to-earnings ratio of 25.63, a price-to-earnings-growth ratio of 1.40 and a beta of 0.44. Cencora, Inc. has a one year low of $182.75 and a one year high of $247.66.

Cencora (NYSE:COR - Get Free Report) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $3.34 EPS for the quarter, topping analysts' consensus estimates of $3.18 by $0.16. The firm had revenue of $74.20 billion during the quarter, compared to analyst estimates of $73.32 billion. Cencora had a return on equity of 266.60% and a net margin of 0.65%. The company's revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the previous year, the company posted $2.92 EPS. As a group, analysts expect that Cencora, Inc. will post 13.63 EPS for the current year.

Cencora Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 0.88%. The ex-dividend date was Friday, August 9th. Cencora's dividend payout ratio is presently 22.32%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on COR shares. Evercore ISI dropped their price objective on Cencora from $270.00 to $250.00 and set an "outperform" rating on the stock in a research note on Tuesday, October 8th. JPMorgan Chase & Co. boosted their price objective on Cencora from $280.00 to $287.00 and gave the company an "overweight" rating in a research note on Wednesday, August 21st. Leerink Partners decreased their target price on Cencora from $277.00 to $275.00 and set an "outperform" rating for the company in a research report on Monday, October 7th. Robert W. Baird decreased their target price on Cencora from $287.00 to $283.00 and set an "outperform" rating for the company in a research report on Friday, September 6th. Finally, Wells Fargo & Company boosted their target price on Cencora from $236.00 to $249.00 and gave the company an "equal weight" rating in a research report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $259.44.

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.