TD Asset Management Inc Has $74.88 Million Stock Position in Cencora, Inc. (NYSE:COR)

Key Points

• TD Asset Management Inc reduced its stake in Cencora, Inc. by 6.9%, now owning 269,276 shares valued at approximately $74.88 million.
• CEO Robert P. Mauch and Chairman Steven H. Collis sold shares of their own stock, leading to a 10.50% and 4.47% decrease in their respective positions.
• Several analysts have upgraded Cencora with a consensus rating of "Moderate Buy" and a price target average of $309.83, indicating strong market confidence in the company's performance.

TD Asset Management Inc reduced its holdings in Cencora, Inc. (NYSE:COR - Free Report) by 6.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 269,276 shares of the company's stock after selling 19,946 shares during the quarter. TD Asset Management Inc owned approximately 0.14% of Cencora worth $74,883,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Net Worth Advisory Group raised its position in Cencora by 1.4% in the 1st quarter. Net Worth Advisory Group now owns 2,645 shares of the company's stock worth $736,000 after purchasing an additional 36 shares during the last quarter. Obermeyer Wealth Partners raised its position in Cencora by 1.3% in the 1st quarter. Obermeyer Wealth Partners now owns 2,724 shares of the company's stock worth $758,000 after purchasing an additional 36 shares during the last quarter. Cromwell Holdings LLC raised its position in Cencora by 9.5% in the 1st quarter. Cromwell Holdings LLC now owns 450 shares of the company's stock worth $125,000 after purchasing an additional 39 shares during the last quarter. Private Trust Co. NA raised its position in Cencora by 2.5% in the 1st quarter. Private Trust Co. NA now owns 1,933 shares of the company's stock worth $538,000 after purchasing an additional 47 shares during the last quarter. Finally, Permanent Capital Management LP raised its position in Cencora by 4.0% in the 1st quarter. Permanent Capital Management LP now owns 1,238 shares of the company's stock worth $344,000 after purchasing an additional 48 shares during the last quarter. 97.52% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Robert P. Mauch sold 4,968 shares of the firm's 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 owned 42,351 shares in the company, valued at $12,455,852.61. This trade represents a 10.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Steven H. Collis sold 14,579 shares of the firm's stock in a transaction dated 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 $91,271,982.06. The trade was a 4.47% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,125 shares of company stock valued at $9,993,789 in the last 90 days. 10.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

COR has been the subject of several recent research reports. 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 research report on Tuesday, April 29th. Bank of America increased their price target on Cencora from $270.00 to $285.00 and gave the company a "neutral" rating in a research note on Friday, April 11th. Citigroup increased their price target on Cencora from $330.00 to $355.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Wells Fargo & Company raised Cencora from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $274.00 to $337.00 in a research note on Tuesday, June 3rd. Finally, Robert W. Baird increased their price target on Cencora from $314.00 to $350.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Three 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 $309.83.

Cencora Stock Down 0.2%

COR stock traded down $0.60 during trading hours on Thursday, reaching $291.20. 300,021 shares of the stock were exchanged, compared to its average volume of 1,568,352. The firm's 50-day moving average is $293.13 and its 200-day moving average is $275.35. The company has a market cap of $56.44 billion, a price-to-earnings ratio of 33.78, a PEG ratio of 1.44 and a beta of 0.57. The company has a debt-to-equity ratio of 6.01, a current ratio of 0.87 and a quick ratio of 0.52. Cencora, Inc. has a 12 month low of $218.65 and a 12 month high of $309.35.

Cencora (NYSE:COR - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $4.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.07 by $0.35. The firm had revenue of $75.50 billion during the quarter, compared to analysts' expectations of $75.41 billion. Cencora had a return on equity of 344.71% and a net margin of 0.55%. The company's revenue was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.80 EPS. On average, equities research analysts expect that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 16th were issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 0.76%. The ex-dividend date was Friday, May 16th. Cencora's payout ratio is 25.52%.

About Cencora

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.