Cencora, Inc. $COR Holdings Decreased by CX Institutional

Key Points

• CX Institutional cut its Cencora position by 83.5% in the third quarter, selling 22,613 shares and retaining 4,456 shares valued at approximately $1.34 million. Institutional investors collectively own 97.52% of the company.
• Analysts maintain a positive outlook, with 13 Buy ratings and three Holds, producing a consensus “Moderate Buy” rating and an average price target of $370.85.
• Cencora exceeded quarterly expectations with adjusted earnings of $4.48 per share and revenue of $84.75 billion, while maintaining a quarterly dividend of $0.60 per share, or $2.40 annually.

CX Institutional decreased its position in Cencora, Inc. (NYSE:COR - Free Report) by 83.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,456 shares of the company's stock after selling 22,613 shares during the quarter. CX Institutional's holdings in Cencora were worth $1,338,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently made changes to their positions in COR. Versant Capital Management Inc boosted its holdings in Cencora by 50.6% during the 3rd quarter. Versant Capital Management Inc now owns 946 shares of the company's stock valued at $284,000 after acquiring an additional 318 shares during the period. Burkett Financial Services LLC purchased a new position in Cencora in the 3rd quarter worth approximately $67,000. QRG Capital Management Inc. increased its stake in Cencora by 131.1% in the 2nd quarter. QRG Capital Management Inc. now owns 33,076 shares of the company's stock worth $9,360,000 after purchasing an additional 18,762 shares during the period. Envestnet Portfolio Solutions Inc. lifted its position in Cencora by 174.9% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 11,364 shares of the company's stock valued at $3,216,000 after purchasing an additional 7,230 shares during the last quarter. Finally, Anchor Investment Management LLC boosted its stake in shares of Cencora by 6.9% during the second quarter. Anchor Investment Management LLC now owns 2,300 shares of the company's stock valued at $707,000 after purchasing an additional 149 shares during the period. Hedge funds and other institutional investors own 97.52% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on COR. Barclays lowered their price target on shares of Cencora from $425.00 to $350.00 and set an "overweight" rating for the company in a report on Wednesday, June 10th. Wall Street Zen upgraded shares of Cencora from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Citigroup reaffirmed a "buy" rating on shares of Cencora in a research note on Thursday, August 6th. JPMorgan Chase & Co. increased their target price on shares of Cencora from $382.00 to $390.00 and gave the stock an "overweight" rating in a report on Friday, August 7th. Finally, Wells Fargo & Company increased their price objective on Cencora from $331.00 to $395.00 and gave the stock an "overweight" rating in a report on Tuesday, August 11th. Thirteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $370.85.

Insider Transactions at Cencora

In related news, EVP Elizabeth Campbell sold 11,300 shares of the stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $324.12, for a total transaction of $3,662,556.00. Following the sale, the executive vice president directly owned 19,455 shares of the company's stock, valued at approximately $6,305,754.60. This represents a 36.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.38% of the stock is currently owned by insiders.

Cencora Trading Down 0.0%

Shares of NYSE COR opened at $309.75 on Friday. Cencora, Inc. has a 1 year low of $244.82 and a 1 year high of $377.54. The company has a debt-to-equity ratio of 3.53, a current ratio of 0.93 and a quick ratio of 0.58. The firm has a 50-day moving average of $318.13 and a 200 day moving average of $303.37. The stock has a market cap of $59.11 billion, a P/E ratio of 23.01, a price-to-earnings-growth ratio of 1.59 and a beta of 0.58.

Cencora (NYSE:COR - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $4.48 earnings per share for the quarter, topping analysts' consensus estimates of $4.35 by $0.13. The business had revenue of $84.75 billion for the quarter, compared to analysts' expectations of $84.31 billion. Cencora had a net margin of 0.79% and a return on equity of 125.45%. The business's revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.00 earnings per share. As a group, sell-side analysts expect that Cencora, Inc. will post 17.87 EPS for the current fiscal year.

Cencora Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Friday, August 14th were paid a $0.60 dividend. The ex-dividend date was Friday, August 14th. This represents a $2.40 dividend on an annualized basis and a yield of 0.8%. Cencora's payout ratio is presently 17.83%.

About Cencora

Cencora, formerly known as AmerisourceBergen, is a global pharmaceutical solutions company that sources, distributes and supports the delivery of medicines and healthcare products. The company serves pharmaceutical manufacturers, healthcare providers, pharmacies and animal-health customers through its supply-chain and commercialization services.

Its activities include pharmaceutical and specialty-product distribution, manufacturer services, specialty logistics, clinical-trial support, patient-support programs and other services designed to help bring medicines to market and improve access to treatment.

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