Allspring Global Investments Holdings LLC Invests $50.34 Million in Cencora, Inc. (NYSE:COR)

Allspring Global Investments Holdings LLC acquired a new stake in Cencora, Inc. (NYSE:COR) during the first quarter, Holdings Channel.com reports. The fund acquired 207,159 shares of the company’s stock, valued at approximately $50,337,000.

Several other institutional investors have also added to or reduced their stakes in COR. Rise Advisors LLC bought a new position in shares of Cencora in the 1st quarter valued at $25,000. CVA Family Office LLC bought a new position in Cencora in the first quarter valued at about $34,000. Bruce G. Allen Investments LLC acquired a new position in Cencora during the first quarter worth about $43,000. Park Place Capital Corp bought a new position in shares of Cencora in the first quarter worth about $46,000. Finally, Trust Co. of Vermont acquired a new stake in shares of Cencora in the 4th quarter valued at approximately $62,000. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, COO Robert P. Mauch sold 57,564 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $235.09, for a total transaction of $13,532,720.76. Following the transaction, the chief operating officer now directly owns 24,412 shares of the company’s stock, valued at approximately $5,739,017.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO Steven H. Collis sold 10,754 shares of the business’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $237.48, for a total transaction of $2,553,859.92. Following the completion of the sale, the chief executive officer now directly owns 285,088 shares of the company’s stock, valued at $67,702,698.24. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Robert P. Mauch sold 57,564 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $235.09, for a total transaction of $13,532,720.76. Following the completion of the transaction, the chief operating officer now directly owns 24,412 shares in the company, valued at approximately $5,739,017.08. The disclosure for this sale can be found here. Insiders sold a total of 1,956,675 shares of company stock worth $422,352,056 in the last three months. Company insiders own 15.80% of the company’s stock.

Cencora Trading Down 0.4 %

Shares of COR stock opened at $222.56 on Wednesday. The company has a market cap of $44.39 billion, a P/E ratio of 24.35, a PEG ratio of 1.57 and a beta of 0.45. Cencora, Inc. has a fifty-two week low of $171.65 and a fifty-two week high of $246.75. The stock has a 50 day simple moving average of $228.55 and a two-hundred day simple moving average of $228.47. The company has a debt-to-equity ratio of 3.41, a quick ratio of 0.53 and a current ratio of 0.89.

Cencora (NYSE:COR) last released its quarterly earnings data on Wednesday, May 1st. The company reported $3.80 earnings per share for the quarter, beating the consensus estimate of $3.65 by $0.15. The company had revenue of $68.41 billion during the quarter, compared to analyst estimates of $70.60 billion. Cencora had a net margin of 0.67% and a return on equity of 268.67%. Cencora’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.50 EPS. Research analysts forecast that Cencora, Inc. will post 13.44 earnings per share for the current year.

Cencora Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were given a dividend of $0.51 per share. The ex-dividend date was Thursday, May 9th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.92%. Cencora’s dividend payout ratio (DPR) is presently 22.32%.

Analyst Ratings Changes

Several brokerages recently commented on COR. Robert W. Baird increased their price objective on shares of Cencora from $275.00 to $277.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. Citigroup raised their price objective on Cencora from $265.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. StockNews.com downgraded Cencora from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 2nd. Finally, SVB Leerink reiterated an “outperform” rating and set a $275.00 price target on shares of Cencora in a report on Thursday, June 27th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $235.30.

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.