Northwestern Mutual Wealth Management Co. Sells 668 Shares of Cencora, Inc. (NYSE:COR)

Northwestern Mutual Wealth Management Co. cut its position in shares of Cencora, Inc. (NYSE:COR) by 5.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,623 shares of the company’s stock after selling 668 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Cencora were worth $2,844,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. purchased a new stake in shares of Cencora in the 4th quarter worth about $4,212,508,000. Price T Rowe Associates Inc. MD purchased a new stake in Cencora in the first quarter worth about $2,183,619,000. JPMorgan Chase & Co. bought a new position in shares of Cencora during the first quarter valued at approximately $1,199,695,000. Boston Partners purchased a new position in shares of Cencora during the first quarter valued at approximately $1,001,269,000. Finally, Capital Research Global Investors bought a new stake in shares of Cencora in the 1st quarter worth approximately $650,424,000. 97.52% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cencora

In other news, CEO Steven H. Collis sold 10,755 shares of Cencora stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $222.12, for a total transaction of $2,388,900.60. Following the transaction, the chief executive officer now owns 285,088 shares in the company, valued at approximately $63,323,746.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Cencora news, EVP Silvana Battaglia sold 1,473 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total transaction of $357,482.37. Following the sale, the executive vice president now owns 10,948 shares in the company, valued at approximately $2,656,970.12. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Steven H. Collis sold 10,755 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $222.12, for a total transaction of $2,388,900.60. Following the completion of the transaction, the chief executive officer now owns 285,088 shares of the company’s stock, valued at $63,323,746.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,450,399 shares of company stock valued at $1,070,392,799. Insiders own 15.80% of the company’s stock.

Cencora Stock Down 0.3 %

Shares of Cencora stock opened at $220.97 on Friday. Cencora, Inc. has a twelve month low of $180.10 and a twelve month high of $247.66. The company has a quick ratio of 0.55, a current ratio of 0.89 and a debt-to-equity ratio of 3.93. The company’s 50 day moving average is $234.76 and its 200 day moving average is $232.34. The company has a market cap of $44.07 billion, a price-to-earnings ratio of 24.18, a price-to-earnings-growth ratio of 1.58 and a beta of 0.44.

Cencora (NYSE:COR) last released its quarterly earnings results on Wednesday, July 31st. The company reported $3.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.18 by $0.16. The firm had revenue of $74.20 billion for the quarter, compared to the consensus estimate of $73.32 billion. Cencora had a return on equity of 266.60% and a net margin of 0.65%. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period last year, the business posted $2.92 EPS. Research analysts anticipate that Cencora, Inc. will post 13.63 EPS for the current year.

Cencora Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were given a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.04 annualized dividend and a yield of 0.92%. Cencora’s dividend payout ratio (DPR) is 22.32%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on COR shares. StockNews.com cut Cencora from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 20th. Leerink Partners reaffirmed an “outperform” rating and issued a $275.00 price target on shares of Cencora in a research report on Thursday, June 27th. Wells Fargo & Company increased their price objective on shares of Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Bank of America reaffirmed a “neutral” rating and issued a $245.00 target price (down from $275.00) on shares of Cencora in a report on Wednesday, September 18th. Finally, JPMorgan Chase & Co. increased their price target on shares of Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $256.67.

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.