Cencora, Inc. $COR Position Trimmed by MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH

Key Points

• MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH has reduced its stake in Cencora, Inc. (NYSE: COR) by 11.1%, now holding 54,142 shares valued at approximately $16.23 million.
• Cencora reported a quarterly earnings increase, with earnings per share at $4.00, surpassing analyst expectations.
• The company declared a quarterly dividend of $0.55, translating to an annual yield of 0.7% and a payout ratio of 22.63%.

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH trimmed its holdings in shares of Cencora, Inc. (NYSE:COR - Free Report) by 11.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 54,142 shares of the company's stock after selling 6,783 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings in Cencora were worth $16,234,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its position in shares of Cencora by 8.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,647,310 shares of the company's stock valued at $2,682,821,000 after acquiring an additional 787,858 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Cencora by 7.2% in the 1st quarter. Wellington Management Group LLP now owns 5,421,262 shares of the company's stock valued at $1,507,599,000 after acquiring an additional 363,402 shares in the last quarter. Boston Partners lifted its position in shares of Cencora by 8.1% in the 1st quarter. Boston Partners now owns 5,411,193 shares of the company's stock valued at $1,505,984,000 after acquiring an additional 404,093 shares in the last quarter. Invesco Ltd. lifted its position in Cencora by 42.1% in the 1st quarter. Invesco Ltd. now owns 4,607,964 shares of the company's stock worth $1,281,429,000 after buying an additional 1,364,433 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in Cencora by 9.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,711,281 shares of the company's stock worth $475,890,000 after buying an additional 154,311 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors.

Cencora Stock Up 2.0%

Shares of NYSE COR opened at $308.33 on Thursday. The stock has a market cap of $59.78 billion, a P/E ratio of 31.72, a P/E/G ratio of 1.54 and a beta of 0.62. The firm has a 50 day moving average price of $292.62 and a 200 day moving average price of $287.78. 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, Inc. has a 52-week low of $218.65 and a 52-week high of $309.64.

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

Cencora Announces Dividend

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

Insider Buying and Selling

In other news, Chairman Steven H. Collis sold 31,350 shares of the business's stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $289.86, for a total value of $9,087,111.00. Following the sale, the chairman owned 305,913 shares of the company's stock, valued at $88,671,942.18. The trade was a 9.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Robert P. Mauch sold 5,097 shares of the company's stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $290.00, for a total transaction of $1,478,130.00. Following the sale, the chief executive officer directly owned 39,274 shares in the company, valued at $11,389,460. This trade represents a 11.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,993 shares of company stock worth $16,292,923. Insiders own 10.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on COR. 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 report on Wednesday, August 13th. Jefferies Financial Group raised their price target 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 price target on shares of Cencora and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. 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, the stock presently has an average rating of "Moderate Buy" and an average target price of $311.25.

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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