Cencora, Inc. (NYSE:COR) Shares Sold by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC cut its holdings in Cencora, Inc. (NYSE:COR) by 25.2% in the first quarter, HoldingsChannel reports. The institutional investor owned 910 shares of the company’s stock after selling 307 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Cencora were worth $253,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. JFS Wealth Advisors LLC raised its position in shares of Cencora by 63.0% in the 4th quarter. JFS Wealth Advisors LLC now owns 119 shares of the company’s stock valued at $27,000 after purchasing an additional 46 shares during the last quarter. Banque Transatlantique SA acquired a new position in Cencora during the 4th quarter valued at approximately $29,000. SBI Securities Co. Ltd. acquired a new position in Cencora during the 4th quarter valued at approximately $30,000. Kentucky Trust Co purchased a new position in shares of Cencora in the fourth quarter worth $33,000. Finally, WASHINGTON TRUST Co lifted its stake in shares of Cencora by 37.7% during the fourth quarter. WASHINGTON TRUST Co now owns 168 shares of the company’s stock worth $38,000 after buying an additional 46 shares during the period. Institutional investors and hedge funds own 97.52% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Robert P. Mauch sold 4,969 shares of the firm’s stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $289.33, for a total transaction of $1,437,680.77. Following the sale, the chief executive officer now directly owns 47,582 shares in the company, valued at $13,766,900.06. This trade represents a 9.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Steven H. Collis sold 14,579 shares of the company’s stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $281.81, for a total value of $4,108,507.99. Following the completion of the transaction, the chairman now directly owns 315,913 shares of the company’s stock, valued at $89,027,442.53. The trade was a 4.41% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,253 shares of company stock worth $10,582,297. Company insiders own 10.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on COR shares. Citigroup upped their target price on Cencora from $330.00 to $355.00 and gave the company a “buy” rating in a research report on Thursday, May 8th. Bank of America boosted their price target on Cencora from $270.00 to $285.00 and gave the company a “neutral” rating in a research note on Friday, April 11th. UBS Group raised their price objective on Cencora from $298.00 to $335.00 and gave the stock a “buy” rating in a research note on Tuesday, April 29th. Wells Fargo & Company raised Cencora from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $274.00 to $337.00 in a report on Tuesday, June 3rd. Finally, Morgan Stanley set a $288.00 price target on shares of Cencora in a report on Tuesday, April 15th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $306.91.

Cencora Stock Up 0.7%

Shares of COR stock opened at $286.34 on Thursday. Cencora, Inc. has a twelve month low of $218.65 and a twelve month high of $309.35. The stock has a market cap of $55.50 billion, a P/E ratio of 40.73, a P/E/G ratio of 1.31 and a beta of 0.58. The stock has a 50 day moving average of $286.42 and a 200 day moving average of $260.98. 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 (NYSE:COR) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $4.42 EPS for the quarter, topping analysts’ consensus estimates of $4.07 by $0.35. Cencora had a net margin of 0.46% and a return on equity of 328.62%. The business had revenue of $75.50 billion for the quarter, compared to analysts’ expectations of $75.41 billion. During the same quarter last year, the company earned $3.80 EPS. The business’s revenue was up 10.3% on a year-over-year basis. As a group, sell-side analysts expect that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 16th were issued a $0.55 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.20 dividend on an annualized basis and a yield of 0.77%. Cencora’s payout ratio is 25.52%.

Cencora Company Profile

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.