Boston Partners Has $1.51 Billion Stock Holdings in Cencora, Inc. (NYSE:COR)

Key Points

• Boston Partners has boosted its stake in Cencora, Inc. by 8.1%, making it the firm's second-largest holding, valued at approximately $1.5 billion.
• Analysts have raised their price targets for Cencora, with Citigroup and UBS both giving the stock a "buy" rating and setting targets between $330 and $355.
• In a recent sale, Cencora's CEO sold nearly 5,000 shares, reducing his ownership to 42,351 shares, valued at over $12 million.

Boston Partners grew its position in Cencora, Inc. (NYSE:COR - Free Report) by 8.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,411,193 shares of the company's stock after buying an additional 404,093 shares during the quarter. Cencora makes up approximately 1.8% of Boston Partners' portfolio, making the stock its 2nd largest position. Boston Partners owned approximately 2.79% of Cencora worth $1,505,984,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cornerstone Planning Group LLC raised its position in Cencora by 106.7% during the first quarter. Cornerstone Planning Group LLC now owns 93 shares of the company's stock valued at $26,000 after acquiring an additional 48 shares in the last quarter. Hoey Investments Inc. bought a new position in Cencora during the first quarter valued at approximately $28,000. Costello Asset Management INC bought a new position in Cencora during the first quarter valued at approximately $28,000. Banque Transatlantique SA bought a new position in Cencora during the fourth quarter valued at approximately $29,000. Finally, Vermillion Wealth Management Inc. bought a new position in Cencora during the fourth quarter valued at approximately $38,000. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Cencora Stock Performance

COR traded down $1.59 during trading on Friday, reaching $293.28. 1,109,030 shares of the company's stock were exchanged, compared to its average volume of 1,230,909. Cencora, Inc. has a fifty-two week low of $218.65 and a fifty-two week high of $309.35. 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 business has a 50 day moving average price of $292.70 and a 200 day moving average price of $279.16. The company has a market capitalization of $56.86 billion, a P/E ratio of 30.17, a PEG ratio of 1.39 and a beta of 0.58.

Cencora (NYSE:COR - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $4.00 earnings per share 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 the consensus estimate of $80.34 billion. Cencora had a net margin of 0.60% and a return on equity of 267.36%. The business's revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.34 earnings per share. As a group, analysts predict that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Dividend Announcement

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

Insiders Place Their Bets

In other Cencora news, Chairman Steven H. Collis sold 14,579 shares of Cencora stock in a transaction on 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 transaction, the chairman directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert P. Mauch sold 4,968 shares of Cencora stock in a transaction on Friday, July 18th. The shares were sold at an average price of $294.11, for a total value of $1,461,138.48. Following the transaction, the chief executive officer directly owned 42,351 shares of the company's stock, valued at approximately $12,455,852.61. The trade was a 10.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,125 shares of company stock valued at $9,993,789. Company insiders own 10.80% of the company's stock.

Analyst Upgrades and Downgrades

COR has been the topic of several recent research reports. Citigroup raised their price objective on shares of Cencora from $330.00 to $355.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Jefferies Financial Group lifted their price target on shares of Cencora from $275.00 to $300.00 and gave the company a "hold" rating in a research report on Monday, June 30th. Wells Fargo & Company set a $354.00 price target on shares of Cencora and gave the company an "overweight" rating in a research report on Wednesday. Robert W. Baird lifted their price target on shares of Cencora from $314.00 to $350.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Finally, UBS Group raised their price objective on shares of Cencora from $298.00 to $335.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target 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.