Canada Pension Plan Investment Board Decreases Stock Position in Cencora, Inc. $COR

Key Points

• The Canada Pension Plan Investment Board reduced its stake in Cencora, Inc. by 3.4%, holding a total of 73,436 shares valued at approximately $20.4 million after selling 2,588 shares.
• Insider transactions included CEO Robert P. Mauch selling 4,968 shares worth about $1.46 million and Chairman Steven H. Collis selling 14,578 shares valued at approximately $4.27 million.
• Cencora recently announced a quarterly dividend of $0.55, signaling a 0.8% dividend yield and a payout ratio of 22.63%.

Canada Pension Plan Investment Board decreased its holdings in Cencora, Inc. (NYSE:COR - Free Report) by 3.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 73,436 shares of the company's stock after selling 2,588 shares during the quarter. Canada Pension Plan Investment Board's holdings in Cencora were worth $20,422,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Cornerstone Planning Group LLC raised its holdings in Cencora by 106.7% in the 1st quarter. Cornerstone Planning Group LLC now owns 93 shares of the company's stock worth $26,000 after purchasing an additional 48 shares during the period. Hoey Investments Inc. acquired a new position in Cencora in the 1st quarter worth about $28,000. Costello Asset Management INC acquired a new position in Cencora in the 1st quarter worth about $28,000. Banque Transatlantique SA acquired a new position in shares of Cencora during the fourth quarter valued at approximately $29,000. Finally, Vermillion Wealth Management Inc. acquired a new position in shares of Cencora during the fourth quarter valued at approximately $38,000. Institutional investors and hedge funds own 97.52% of the company's stock.

Analysts Set New Price Targets

COR has been the subject of a number of research analyst reports. Wells Fargo & Company increased their target price on Cencora from $337.00 to $354.00 and gave the company an "overweight" rating in a report on Wednesday, August 13th. Robert W. Baird increased their price target on Cencora from $314.00 to $350.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Morgan Stanley set a $330.00 price target on Cencora and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. Citigroup increased their price objective on Cencora from $330.00 to $355.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Finally, Jefferies Financial Group increased their price objective on Cencora from $275.00 to $300.00 and gave the stock a "hold" rating in a research report on Monday, June 30th. Nine research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $311.25.

Insider Activity

In other Cencora news, CEO Robert P. Mauch sold 4,968 shares of Cencora stock in a transaction dated 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 transaction, the chief executive officer directly owned 42,351 shares of the company's stock, valued at $12,455,852.61. The trade was a 10.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Steven H. Collis sold 14,579 shares of Cencora stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $292.62, for a total value of $4,266,106.98. Following the completion of the transaction, the chairman owned 311,913 shares of the company's stock, valued at approximately $91,271,982.06. This trade represents a 4.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,125 shares of company stock valued at $9,993,789. 10.80% of the stock is currently owned by corporate insiders.

Cencora Trading Down 0.1%

NYSE COR traded down $0.18 during trading on Friday, hitting $292.52. The stock had a trading volume of 887,598 shares, compared to its average volume of 1,541,727. The company has a market capitalization of $56.71 billion, a PE ratio of 30.09, a PEG ratio of 1.40 and a beta of 0.62. The company has a quick ratio of 0.53, a current ratio of 0.90 and a debt-to-equity ratio of 3.64. The firm has a 50 day moving average price of $292.99 and a 200 day moving average price of $283.26. Cencora, Inc. has a twelve month low of $218.65 and a twelve month high of $309.35.

Cencora (NYSE:COR - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $4.00 earnings per share for the quarter, beating the consensus estimate of $3.79 by $0.21. The company 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%.Cencora's revenue was up 8.7% compared to the same quarter last year. During the same period in the previous year, the company posted $3.34 EPS. As a group, equities research analysts forecast that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Announces Dividend

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 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Friday, August 15th. Cencora's payout ratio is currently 22.63%.

Cencora 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.