Cencora, Inc. $COR Stock: Diversify Advisory Services LLC Cuts Position

Key Points

• Diversify Advisory Services LLC cut its Cencora position by 65.9% in the third quarter, leaving it with 2,993 shares valued at approximately $899,000. Institutional investors collectively own 97.52% of the company.
• Cencora reported quarterly revenue of $84.75 billion and adjusted earnings of $4.48 per share, exceeding analyst estimates, while revenue increased 5.1% year over year.
• Analysts maintain a favorable outlook, with a consensus “Moderate Buy” rating and an average price target of $366.44, compared with shares trading near $330.77.

Diversify Advisory Services LLC reduced its position in Cencora, Inc. (NYSE:COR - Free Report) by 65.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,993 shares of the company's stock after selling 5,776 shares during the period. Diversify Advisory Services LLC's holdings in Cencora were worth $899,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Deutsche Bank AG acquired a new stake in Cencora during the 2nd quarter valued at $286,673,000. Impact Partnership Wealth LLC acquired a new stake in Cencora in the first quarter valued at $1,170,000. SEB Asset Management AB acquired a new stake in shares of Cencora in the 1st quarter valued at about $134,139,000. Wedge Capital Management L L P NC lifted its position in shares of Cencora by 31.0% during the second quarter. Wedge Capital Management L L P NC now owns 105,614 shares of the company's stock worth $29,887,000 after purchasing an additional 24,968 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in Cencora during the second quarter worth $841,000. Hedge funds and other institutional investors own 97.52% of the company's stock.

Cencora Price Performance

Shares of NYSE COR opened at $330.77 on Monday. The company has a current ratio of 0.93, a quick ratio of 0.58 and a debt-to-equity ratio of 3.53. The firm has a 50-day moving average of $322.35 and a two-hundred day moving average of $303.94. Cencora, Inc. has a twelve month low of $244.82 and a twelve month high of $377.54. The company has a market capitalization of $63.12 billion, a price-to-earnings ratio of 24.57, a PEG ratio of 1.70 and a beta of 0.58.

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

Cencora Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Friday, August 14th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 0.7%. The ex-dividend date was Friday, August 14th. Cencora's payout ratio is presently 17.83%.

Insider Activity

In related news, EVP Elizabeth Campbell sold 11,300 shares of the company's stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $324.12, for a total value of $3,662,556.00. Following the completion of the sale, the executive vice president owned 19,455 shares in the company, valued at approximately $6,305,754.60. This represents a 36.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.38% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

COR has been the subject of a number of research reports. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $330.00 price objective on shares of Cencora in a report on Tuesday, September 8th. UBS Group reduced their price objective on Cencora from $430.00 to $400.00 and set a "buy" rating for the company in a research report on Friday, October 16th. JPMorgan Chase & Co. upped their price target on shares of Cencora from $382.00 to $390.00 and gave the stock an "overweight" rating in a research report on Friday, August 7th. Argus boosted their price objective on Cencora from $340.00 to $380.00 and gave the stock a "buy" rating in a research report on Tuesday, October 20th. Finally, Evercore reissued an "outperform" rating and issued a $350.00 price target (up from $330.00) on shares of Cencora in a research note on Thursday, August 6th. Fourteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, Cencora presently has a consensus rating of "Moderate Buy" and an average price target of $366.44.

Cencora Profile

Cencora, formerly known as AmerisourceBergen, is a global pharmaceutical sourcing and distribution company. It provides branded, generic and specialty pharmaceuticals, over-the-counter products and related health care supplies to pharmacies, hospitals, health systems, physician practices and other health care providers.

The company also offers services to pharmaceutical and biotechnology manufacturers, including logistics, commercialization support, market access, consulting, clinical trial support and patient assistance programs.

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