American Century Companies Inc. Has $236.31 Million Stock Position in Cencora, Inc. $COR

Key Points

• American Century Companies Inc. decreased its holdings in Cencora, Inc. by 1.5%, owning 849,757 shares worth approximately $236.31 million at the end of Q1.
• Analysts have set varied price targets on Cencora, with UBS Group raising theirs to $335.00, and the stock currently holds an average rating of "Moderate Buy" and a price target of $311.25.
• Cencora recently announced a quarterly dividend of $0.55, translating to an annual yield of 0.8%, with a dividend payout ratio of 22.63%.

American Century Companies Inc. trimmed its stake in Cencora, Inc. (NYSE:COR - Free Report) by 1.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 849,757 shares of the company's stock after selling 12,880 shares during the quarter. American Century Companies Inc. owned 0.44% of Cencora worth $236,309,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. Net Worth Advisory Group grew its stake in shares of Cencora by 1.4% in the first quarter. Net Worth Advisory Group now owns 2,645 shares of the company's stock worth $736,000 after acquiring an additional 36 shares during the last quarter. Obermeyer Wealth Partners grew its stake in shares of Cencora by 1.3% in the first quarter. Obermeyer Wealth Partners now owns 2,724 shares of the company's stock worth $758,000 after acquiring an additional 36 shares during the last quarter. Cromwell Holdings LLC grew its stake in shares of Cencora by 9.5% in the first quarter. Cromwell Holdings LLC now owns 450 shares of the company's stock worth $125,000 after acquiring an additional 39 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC grew its stake in shares of Cencora by 2.7% in the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,565 shares of the company's stock worth $435,000 after acquiring an additional 41 shares during the last quarter. Finally, Private Trust Co. NA grew its stake in shares of Cencora by 2.5% in the first quarter. Private Trust Co. NA now owns 1,933 shares of the company's stock worth $538,000 after acquiring an additional 47 shares during the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Chairman Steven H. Collis sold 14,578 shares of the firm's stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $292.67, for a total value of $4,266,543.26. Following the completion of the sale, the chairman directly owned 309,913 shares in the company, valued at approximately $90,702,237.71. This trade represents a 4.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Robert P. Mauch sold 4,968 shares of the firm's stock in a transaction on Friday, July 18th. The shares were sold at an average price of $294.11, for a total value of $1,461,138.48. Following the completion of the sale, the chief executive officer owned 42,351 shares of the company's stock, valued at approximately $12,455,852.61. This trade represents a 10.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,125 shares of company stock valued at $9,993,789. 10.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. UBS Group raised their price objective on shares of Cencora from $298.00 to $335.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Robert W. Baird raised their target price on Cencora from $314.00 to $350.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Wells Fargo & Company raised their target price on Cencora from $337.00 to $354.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 13th. Citigroup raised their target price on Cencora from $330.00 to $355.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Finally, Jefferies Financial Group raised their target price on Cencora from $275.00 to $300.00 and gave the stock a "hold" rating in a research report on Monday, June 30th. Nine analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $311.25.

Cencora Price Performance

Shares of NYSE COR traded up $1.1240 during midday trading on Thursday, reaching $304.8140. 382,611 shares of the company traded hands, compared to its average volume of 1,551,918. The firm has a market cap of $59.10 billion, a PE ratio of 31.35, a PEG ratio of 1.40 and a beta of 0.58. The stock's 50-day simple moving average is $293.37 and its 200-day simple moving average is $279.82. Cencora, Inc. has a 12 month low of $218.65 and a 12 month high of $309.35. The company has a debt-to-equity ratio of 3.64, a quick ratio of 0.53 and a current ratio of 0.90.

Cencora (NYSE:COR - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $4.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.79 by $0.21. Cencora had a return on equity of 267.36% and a net margin of 0.60%.The company had revenue of $80.66 billion during the quarter, compared to analysts' expectations of $80.34 billion. During the same period last year, the business earned $3.34 earnings per share. The business's revenue was up 8.7% on a year-over-year basis. As a group, equities analysts anticipate that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th will be paid a $0.55 dividend. The ex-dividend date is Friday, August 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.7%. Cencora's dividend payout ratio (DPR) is 22.63%.

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.