PNC Financial Services Group Inc. Sells 7,740 Shares of Cencora, Inc. (NYSE:COR)

PNC Financial Services Group Inc. lowered its holdings in shares of Cencora, Inc. (NYSE:COR) by 3.5% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 214,747 shares of the company’s stock after selling 7,740 shares during the period. PNC Financial Services Group Inc.’s holdings in Cencora were worth $48,249,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Haven Private LLC bought a new position in Cencora during the fourth quarter worth about $753,000. Novus Advisors LLC bought a new position in Cencora during the fourth quarter worth about $225,000. Edgestream Partners L.P. grew its holdings in Cencora by 585.7% during the fourth quarter. Edgestream Partners L.P. now owns 19,734 shares of the company’s stock worth $4,434,000 after purchasing an additional 16,856 shares during the period. Jackson Creek Investment Advisors LLC bought a new position in Cencora during the fourth quarter worth about $549,000. Finally, West Family Investments Inc. grew its holdings in Cencora by 1.6% during the fourth quarter. West Family Investments Inc. now owns 3,433 shares of the company’s stock worth $771,000 after purchasing an additional 53 shares during the period. Institutional investors own 97.52% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Mizuho assumed coverage on Cencora in a report on Wednesday, December 4th. They set an “outperform” rating and a $280.00 price target for the company. Wells Fargo & Company boosted their price objective on Cencora from $237.00 to $251.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 29th. StockNews.com cut Cencora from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th. JPMorgan Chase & Co. boosted their price objective on Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Finally, Evercore ISI boosted their price objective on Cencora from $270.00 to $280.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $277.90.

Cencora Stock Up 0.3 %

NYSE COR opened at $254.54 on Monday. 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 1-year low of $214.77 and a 1-year high of $262.26. The company has a 50 day moving average of $244.34 and a 200-day moving average of $238.39. The company has a market cap of $49.36 billion, a price-to-earnings ratio of 36.21, a PEG ratio of 1.31 and a beta of 0.51.

Cencora (NYSE:COR) last released its quarterly earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share for the quarter, beating analysts’ consensus estimates 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 expect that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given a dividend of $0.55 per share. The ex-dividend date was Friday, February 14th. This represents a $2.20 annualized dividend and a yield of 0.86%. Cencora’s dividend payout ratio is currently 31.29%.

Insider Buying and Selling at Cencora

In other Cencora news, CEO Robert P. Mauch sold 4,970 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $255.00, for a total transaction of $1,267,350.00. Following the completion of the transaction, the chief executive officer now directly owns 51,070 shares in the company, valued at $13,022,850. The trade was a 8.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Silvana Battaglia sold 1,678 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $228.72, for a total transaction of $383,792.16. Following the transaction, the executive vice president now owns 20,329 shares of the company’s stock, valued at approximately $4,649,648.88. This represents a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,648 shares of company stock worth $2,862,342 over the last three months. Corporate insiders own 10.80% of the company’s stock.

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.