Cencora, Inc. (NYSE:COR) Shares Sold by National Bank of Canada FI

Key Points

• National Bank of Canada FI reduced its stake in Cencora, Inc. by 16.6%, holding 78,066 shares valued at approximately $21.7 million as of the recent quarter.
• Cencora recently reported quarterly earnings of $4.00 per share, exceeding analyst expectations, and had revenue of $80.66 billion, reflecting an 8.7% increase year-over-year.
• The company declared a quarterly dividend of $0.55 per share to be paid on September 3rd, with an annualized yield of 0.8%.

National Bank of Canada FI trimmed its holdings in Cencora, Inc. (NYSE:COR - Free Report) by 16.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 78,066 shares of the company's stock after selling 15,559 shares during the period. National Bank of Canada FI's holdings in Cencora were worth $21,708,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC grew its stake in Cencora by 106.7% in the 1st quarter. Cornerstone Planning Group LLC now owns 93 shares of the company's stock valued at $26,000 after acquiring an additional 48 shares during the last quarter. Hoey Investments Inc. purchased a new position in Cencora in the 1st quarter valued at about $28,000. Costello Asset Management INC purchased a new position in Cencora in the 1st quarter valued at about $28,000. Banque Transatlantique SA purchased a new position in Cencora in the 4th quarter valued at about $29,000. Finally, University of Texas Texas AM Investment Management Co. purchased a new position in Cencora in the 1st quarter valued at about $39,000. 97.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on COR shares. Wells Fargo & Company set a $354.00 target price on shares of Cencora and gave the company an "overweight" rating in a report on Wednesday. Citigroup upped their target price on shares of Cencora from $330.00 to $355.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Morgan Stanley set a $330.00 target price on shares of Cencora and gave the company an "equal weight" rating in a report on Wednesday, July 16th. UBS Group upped their target price on shares of Cencora from $298.00 to $335.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Finally, Robert W. Baird upped their target price on shares of Cencora from $314.00 to $350.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Cencora has an average rating of "Moderate Buy" and a consensus target price of $311.25.

Insiders Place Their Bets

In related news, CEO Robert P. Mauch sold 4,968 shares of the firm's stock in a transaction on Friday, July 18th. The shares were sold at an average price of $294.11, for a total transaction of $1,461,138.48. Following the completion of the sale, the chief executive officer directly owned 42,351 shares of the company's stock, valued at approximately $12,455,852.61. This trade represents a 10.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Steven H. Collis sold 14,578 shares of the firm's stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $292.67, for a total transaction of $4,266,543.26. Following the sale, the chairman directly owned 309,913 shares of the company's stock, valued at approximately $90,702,237.71. The trade was a 4.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,125 shares of company stock valued at $9,993,789. Company insiders own 10.80% of the company's stock.

Cencora Trading Up 1.4%

COR traded up $4.16 on Thursday, reaching $295.20. 878,151 shares of the company's stock were exchanged, compared to its average volume of 1,568,413. The company's 50 day moving average is $292.47 and its 200-day moving average is $278.46. The company has a market cap of $57.22 billion, a price-to-earnings ratio of 30.37, a PEG ratio of 1.37 and a beta of 0.58. Cencora, Inc. has a twelve month low of $218.65 and a twelve month high of $309.35. 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 (NYSE:COR - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $4.00 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.79 by $0.21. The firm had revenue of $80.66 billion during 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 company's revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.34 EPS. Equities analysts predict that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Friday, August 15th will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Friday, August 15th. Cencora's dividend payout ratio (DPR) is presently 22.63%.

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.