Carmignac Gestion Raises Stake in Cencora, Inc. $COR

Key Points

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Carmignac Gestion lifted its position in Cencora, Inc. (NYSE:COR - Free Report) by 10.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,103,479 shares of the company's stock after purchasing an additional 101,978 shares during the quarter. Cencora accounts for about 5.0% of Carmignac Gestion's holdings, making the stock its 4th largest holding. Carmignac Gestion owned approximately 0.57% of Cencora worth $306,863,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in COR. Credit Agricole S A lifted its position in Cencora by 23.1% during the first quarter. Credit Agricole S A now owns 99,143 shares of the company's stock valued at $27,571,000 after purchasing an additional 18,578 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of Cencora by 1,169.0% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 93,283 shares of the company's stock valued at $25,941,000 after buying an additional 85,932 shares during the period. RWA Wealth Partners LLC boosted its holdings in shares of Cencora by 0.4% in the first quarter. RWA Wealth Partners LLC now owns 34,106 shares of the company's stock valued at $9,485,000 after purchasing an additional 123 shares during the period. Wellington Management Group LLP raised its stake in Cencora by 7.2% in the first quarter. Wellington Management Group LLP now owns 5,421,262 shares of the company's stock worth $1,507,599,000 after buying an additional 363,402 shares in the last quarter. Finally, Qtron Investments LLC increased its position in shares of Cencora by 5.9% during the first quarter. Qtron Investments LLC now owns 5,257 shares of the company's stock worth $1,462,000 after purchasing an additional 293 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors.

Cencora Stock Down 0.8%

Shares of NYSE COR opened at $290.45 on Tuesday. Cencora, Inc. has a 1 year low of $218.65 and a 1 year high of $309.35. The firm's 50 day moving average price is $292.83 and its 200 day moving average price is $279.55. The firm has a market cap of $56.31 billion, a P/E ratio of 29.88, a price-to-earnings-growth ratio of 1.39 and a beta of 0.58. 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 announced its earnings results 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 for the quarter, compared to analyst estimates of $80.34 billion. Cencora had a net margin of 0.60% and a return on equity of 267.36%. Cencora's revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the business earned $3.34 earnings per share. As a group, sell-side analysts anticipate that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Friday, August 15th. Cencora's dividend payout ratio (DPR) is 22.63%.

Analyst Ratings Changes

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

Insiders Place Their Bets

In related news, CEO Robert P. Mauch sold 4,968 shares of the stock in a transaction 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 completion of the sale, the chief executive officer directly owned 42,351 shares in the company, valued at approximately $12,455,852.61. This represents a 10.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Steven H. Collis sold 14,579 shares of the business's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $292.62, for a total transaction of $4,266,106.98. Following the completion of the sale, the chairman directly owned 311,913 shares of the company's stock, valued at $91,271,982.06. The trade was a 4.47% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,125 shares of company stock worth $9,993,789. 10.80% of the stock is owned by company insiders.

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.

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