Sterling Capital Management LLC Sells 3,290 Shares of Cencora, Inc. $COR

Sterling Capital Management LLC reduced its position in Cencora, Inc. (NYSE:COR) by 35.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 6,062 shares of the company’s stock after selling 3,290 shares during the period. Sterling Capital Management LLC’s holdings in Cencora were worth $1,820,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Elevation Wealth Partners LLC lifted its stake in shares of Cencora by 506.2% during the 2nd quarter. Elevation Wealth Partners LLC now owns 97 shares of the company’s stock worth $27,000 after purchasing an additional 81 shares during the period. Bell Investment Advisors Inc acquired a new stake in shares of Cencora during the second quarter worth $28,000. Caitlin John LLC purchased a new stake in shares of Cencora in the second quarter valued at $28,000. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Cencora in the first quarter valued at $35,000. Finally, Downshift Financial LLC grew its position in shares of Cencora by 3,250.0% in the third quarter. Downshift Financial LLC now owns 134 shares of the company’s stock valued at $40,000 after purchasing an additional 130 shares during the period. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Cencora Stock Performance

Shares of NYSE:COR opened at $330.77 on Monday. The firm has a market capitalization of $63.12 billion, a PE ratio of 24.57, a P/E/G ratio of 1.70 and a beta of 0.58. The company has a debt-to-equity ratio of 3.53, a current ratio of 0.93 and a quick ratio of 0.58. The business has a 50-day moving average of $322.35 and a two-hundred day moving average of $303.94. Cencora, Inc. has a 12 month low of $244.82 and a 12 month high of $377.54.

Cencora (NYSE:COR) last released its quarterly earnings data on Wednesday, August 5th. The company reported $4.48 EPS for the quarter, topping analysts’ consensus estimates of $4.35 by $0.13. The company had revenue of $84.75 billion for the quarter, compared to the consensus estimate of $84.31 billion. Cencora had a return on equity of 125.45% and a net margin of 0.79%. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period last year, the business posted $4.00 EPS. As a group, research analysts forecast that Cencora, Inc. will post 17.87 earnings per share for the current year.

Cencora Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Friday, August 14th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Friday, August 14th. Cencora’s dividend payout ratio is 17.83%.

Insider Buying and Selling

In related news, EVP Elizabeth Campbell sold 11,300 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $324.12, for a total value of $3,662,556.00. Following the transaction, the executive vice president owned 19,455 shares in the company, valued at approximately $6,305,754.60. This trade represents a 36.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on COR shares. Wells Fargo & Company increased their target price on Cencora from $331.00 to $395.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. Leerink Partners lifted their price target on Cencora from $380.00 to $388.00 and gave the company an “outperform” rating in a report on Wednesday, October 7th. UBS Group dropped their price objective on shares of Cencora from $430.00 to $400.00 and set a “buy” rating for the company in a research note on Friday, October 16th. Morgan Stanley upped their price objective on shares of Cencora from $342.00 to $346.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Finally, Argus increased their price objective on shares of Cencora from $340.00 to $380.00 and gave the stock a “buy” rating in a report on Tuesday, October 20th. Fourteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Cencora has an average rating of “Moderate Buy” and an average target price of $366.44.

About Cencora

Cencora, formerly known as AmerisourceBergen, is a global pharmaceutical sourcing and distribution company. It provides branded, generic and specialty pharmaceuticals, over-the-counter products and related health care supplies to pharmacies, hospitals, health systems, physician practices and other health care providers.

The company also offers services to pharmaceutical and biotechnology manufacturers, including logistics, commercialization support, market access, consulting, clinical trial support and patient assistance programs.