Ayrshire Capital Management LLC Sells 5,773 Shares of Cencora, Inc. $COR

Key Points

• Ayrshire Capital Management LLC sold 5,773 shares of Cencora, Inc., decreasing its holdings by 22.1%, leaving it with 20,349 shares valued at approximately $6.1 million.
• Several institutional investors, including GAMMA Investing LLC and T. Rowe Price Investment Management Inc., significantly increased their stakes in Cencora during the first quarter.
• Analysts currently rate Cencora stock as a "Moderate Buy" with a consensus price target of $311.25, reflecting positive expectations for the company's future performance.

Ayrshire Capital Management LLC decreased its position in Cencora, Inc. (NYSE:COR - Free Report) by 22.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,349 shares of the company's stock after selling 5,773 shares during the period. Cencora makes up 2.9% of Ayrshire Capital Management LLC's holdings, making the stock its 19th biggest holding. Ayrshire Capital Management LLC's holdings in Cencora were worth $6,102,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC boosted its position in shares of Cencora by 43,561.9% during the 1st quarter. GAMMA Investing LLC now owns 1,598,461 shares of the company's stock valued at $444,516,000 after purchasing an additional 1,594,800 shares in the last quarter. Invesco Ltd. lifted its stake in Cencora by 42.1% in the first quarter. Invesco Ltd. now owns 4,607,964 shares of the company's stock valued at $1,281,429,000 after buying an additional 1,364,433 shares during the period. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Cencora by 4,459.6% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 997,233 shares of the company's stock worth $277,321,000 after buying an additional 975,362 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Cencora by 8.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,647,310 shares of the company's stock worth $2,682,821,000 after buying an additional 787,858 shares during the period. Finally, Nuveen LLC bought a new stake in shares of Cencora in the 1st quarter valued at $181,284,000. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Cencora

In other Cencora news, Chairman Steven H. Collis sold 14,578 shares of the stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $292.67, for a total transaction of $4,266,543.26. Following the completion of the transaction, the chairman owned 309,913 shares in the company, valued at $90,702,237.71. This trade represents a 4.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Robert P. Mauch sold 4,968 shares of the company's stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $294.11, for a total transaction of $1,461,138.48. Following the sale, the chief executive officer owned 42,351 shares in the company, valued at $12,455,852.61. The trade was 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 worth $9,993,789. Corporate insiders own 10.80% of the company's stock.

Cencora Stock Performance

Shares of Cencora stock opened at $288.82 on Thursday. The business's fifty day simple moving average is $292.65 and its 200 day simple moving average is $286.31. 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, Inc. has a 12 month low of $218.65 and a 12 month high of $309.35. The firm has a market capitalization of $56.00 billion, a P/E ratio of 29.71, a price-to-earnings-growth ratio of 1.38 and a beta of 0.62.

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

Cencora Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th were given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Friday, August 15th. Cencora's dividend payout ratio (DPR) is currently 22.63%.

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.

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