PNC Financial Services Group Inc. Has $64.17 Million Stock Position in Cencora, Inc. $COR

PNC Financial Services Group Inc. lessened its stake in Cencora, Inc. (NYSE:COR) by 1.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 205,326 shares of the company’s stock after selling 3,202 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Cencora were worth $64,171,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Harbour Investments Inc. lifted its stake in Cencora by 108.2% in the second quarter. Harbour Investments Inc. now owns 1,951 shares of the company’s stock valued at $585,000 after acquiring an additional 1,014 shares during the last quarter. Private Trust Co. NA increased its stake in shares of Cencora by 3.3% during the 2nd quarter. Private Trust Co. NA now owns 1,996 shares of the company’s stock worth $599,000 after purchasing an additional 63 shares during the last quarter. Stratos Wealth Partners LTD. raised its holdings in shares of Cencora by 31.6% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 1,028 shares of the company’s stock valued at $308,000 after purchasing an additional 247 shares during the period. William Blair Investment Management LLC lifted its stake in Cencora by 4,778.9% in the 2nd quarter. William Blair Investment Management LLC now owns 37,665 shares of the company’s stock valued at $11,294,000 after purchasing an additional 36,893 shares during the last quarter. Finally, United Bank grew its holdings in Cencora by 4.5% during the second quarter. United Bank now owns 7,032 shares of the company’s stock worth $2,109,000 after purchasing an additional 305 shares during the period. 97.52% of the stock is owned by institutional investors.

Insider Buying and Selling at Cencora

In other news, EVP Elizabeth S. Campbell sold 3,351 shares of the business’s stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $342.10, for a total value of $1,146,377.10. Following the completion of the transaction, the executive vice president directly owned 23,891 shares in the company, valued at approximately $8,173,111.10. The trade was a 12.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Robert P. Mauch sold 5,096 shares of the company’s stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $354.73, for a total transaction of $1,807,704.08. Following the sale, the chief executive officer directly owned 66,726 shares of the company’s stock, valued at approximately $23,669,713.98. This trade represents a 7.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 15,220 shares of company stock valued at $5,282,867 in the last ninety days. 0.38% of the stock is currently owned by company insiders.

Cencora Trading Up 2.7%

Shares of NYSE:COR opened at $360.59 on Tuesday. The business’s 50 day simple moving average is $347.97 and its 200 day simple moving average is $329.40. Cencora, Inc. has a 1 year low of $237.71 and a 1 year high of $377.54. The company has a debt-to-equity ratio of 3.62, a current ratio of 0.92 and a quick ratio of 0.51. The company has a market capitalization of $70.15 billion, a P/E ratio of 43.34, a P/E/G ratio of 1.66 and a beta of 0.68.

Cencora (NYSE:COR) last released its earnings results on Wednesday, February 4th. The company reported $4.08 earnings per share for the quarter, beating analysts’ consensus estimates of $4.04 by $0.04. The firm had revenue of $85.93 billion during the quarter, compared to the consensus estimate of $86.12 billion. Cencora had a return on equity of 176.54% and a net margin of 0.50%.The company’s revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the company posted $3.73 EPS. On average, research analysts anticipate that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Friday, February 13th will be paid 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 is Friday, February 13th. Cencora’s dividend payout ratio is presently 28.85%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. TD Cowen raised their price objective on Cencora from $350.00 to $400.00 and gave the company a “buy” rating in a research report on Monday, November 10th. Robert W. Baird set a $415.00 price target on Cencora in a research note on Tuesday, January 13th. Wall Street Zen cut shares of Cencora from a “buy” rating to a “hold” rating in a research report on Friday, November 28th. Mizuho upped their price objective on shares of Cencora from $340.00 to $380.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. Finally, Bank of America dropped their price objective on shares of Cencora from $380.00 to $360.00 and set a “neutral” rating on the stock in a research report on Monday, January 5th. Eleven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Cencora has an average rating of “Moderate Buy” and a consensus price target of $399.00.

Cencora Profile

Cencora (NYSE:COR) is a global healthcare services and pharmaceutical distribution company that provides end-to-end solutions across the pharmaceutical supply chain. The company’s core activities include wholesale drug distribution, specialty drug distribution, and the operation of specialty pharmacies, complemented by logistics, cold-chain management and other fulfillment services designed to support complex and temperature-sensitive therapies.

Beyond physical distribution, Cencora offers a range of commercial and patient-focused services for pharmaceutical manufacturers and healthcare providers.