Amundi Grows Position in Cencora, Inc. $COR

Key Points

• Amundi increased its position in Cencora, Inc. by 9.8% during Q1, holding approximately 1,470,536 shares worth $425 million.
• Analysts have upgraded their price targets for Cencora, with estimates now ranging from $300 to $355, reflecting a generally positive outlook with a consensus rating of "Moderate Buy."
• Insiders have sold a combined total of 34,125 shares of company stock over the last quarter, indicating a 10.50% decrease in the CEO's ownership.

Amundi grew its stake in shares of Cencora, Inc. (NYSE:COR - Free Report) by 9.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,470,536 shares of the company's stock after purchasing an additional 131,826 shares during the quarter. Amundi owned approximately 0.76% of Cencora worth $425,514,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Bernard Wealth Management Corp. bought a new stake in shares of Cencora in the fourth quarter valued at about $67,000. Aptus Capital Advisors LLC grew its stake in shares of Cencora by 117.3% during the fourth quarter. Aptus Capital Advisors LLC now owns 2,647 shares of the company's stock worth $595,000 after acquiring an additional 1,429 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of Cencora by 96.4% during the fourth quarter. Ameriprise Financial Inc. now owns 541,881 shares of the company's stock worth $121,747,000 after acquiring an additional 266,011 shares during the last quarter. Brown Advisory Inc. grew its stake in shares of Cencora by 8.8% during the fourth quarter. Brown Advisory Inc. now owns 96,503 shares of the company's stock worth $21,682,000 after acquiring an additional 7,818 shares during the last quarter. Finally, Cary Street Partners Financial LLC purchased a new stake in Cencora in the fourth quarter valued at approximately $232,000. 97.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Jefferies Financial Group upped their target price on Cencora from $275.00 to $300.00 and gave the company a "hold" rating in a research report on Monday, June 30th. Morgan Stanley set a $330.00 price objective on Cencora and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. Finally, Wells Fargo & Company upped their price objective on Cencora from $337.00 to $354.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 13th. Nine investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Cencora has a consensus rating of "Moderate Buy" and an average price target of $311.25.

Cencora Price Performance

COR stock traded up $5.14 during midday trading on Monday, reaching $297.64. The stock had a trading volume of 2,199,238 shares, compared to its average volume of 1,548,375. Cencora, Inc. has a 52-week low of $218.65 and a 52-week high of $309.35. The company has a market cap of $57.71 billion, a price-to-earnings ratio of 30.62, a price-to-earnings-growth ratio of 1.39 and a beta of 0.62. The company's fifty day simple moving average is $292.84 and its 200 day simple moving average is $284.16. The company has a current ratio of 0.90, a quick ratio of 0.53 and a debt-to-equity ratio of 3.64.

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, topping analysts' consensus estimates of $3.79 by $0.21. The firm had revenue of $80.66 billion during the quarter, compared to the consensus estimate of $80.34 billion. Cencora had a return on equity of 267.36% and a net margin of 0.60%.The company's quarterly revenue was up 8.7% on a year-over-year basis. During the same period last year, the company earned $3.34 EPS. As a group, sell-side analysts predict that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.7%. Cencora's payout ratio is currently 22.63%.

Insider Activity at Cencora

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

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.