Cornerstone Investment Partners LLC Reduces Position in Cencora, Inc. $COR

Key Points

• Cornerstone Investment Partners trimmed its position in Cencora by 2.5% in Q4, selling 7,378 shares and ending the period with 283,931 shares worth about $95.9 million, making COR its ninth-largest holding (~3.7% of the firm's portfolio).
• Major institutional investors largely increased stakes—Vanguard (23.6M shares), State Street (9.19M) and JPMorgan (4.68M) among them—and institutional ownership stands at about 97.52% of the company.
• Cencora slightly beat quarterly EPS estimates ($4.08 vs. $4.04), reported revenue up 5.5% year-over-year, has a market cap near $59.8 billion, a quarterly dividend of $0.60 (0.8% yield), and carries an average analyst target of $398.17 with a consensus of mostly Buy ratings.

Cornerstone Investment Partners LLC lessened its position in Cencora, Inc. (NYSE:COR - Free Report) by 2.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 283,931 shares of the company's stock after selling 7,378 shares during the quarter. Cencora comprises about 3.7% of Cornerstone Investment Partners LLC's investment portfolio, making the stock its 9th biggest position. Cornerstone Investment Partners LLC owned about 0.15% of Cencora worth $95,898,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Cencora by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 23,617,117 shares of the company's stock worth $7,976,681,000 after acquiring an additional 221,570 shares during the period. State Street Corp raised its holdings in Cencora by 9.3% in the 3rd quarter. State Street Corp now owns 9,190,316 shares of the company's stock worth $2,872,249,000 after acquiring an additional 782,911 shares during the period. JPMorgan Chase & Co. raised its holdings in Cencora by 21.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,677,797 shares of the company's stock worth $1,461,965,000 after acquiring an additional 821,098 shares during the period. Boston Partners raised its holdings in Cencora by 2.0% in the 3rd quarter. Boston Partners now owns 4,509,165 shares of the company's stock worth $1,409,152,000 after acquiring an additional 89,506 shares during the period. Finally, Wellington Management Group LLP raised its holdings in Cencora by 3.0% in the 3rd quarter. Wellington Management Group LLP now owns 3,971,121 shares of the company's stock worth $1,241,094,000 after acquiring an additional 115,278 shares during the period. Institutional investors own 97.52% of the company's stock.

Cencora Stock Performance

NYSE:COR opened at $307.60 on Monday. The firm's 50-day moving average is $337.33 and its 200-day moving average is $343.49. Cencora, Inc. has a 52-week low of $271.00 and a 52-week high of $377.54. The company has a debt-to-equity ratio of 3.62, a quick ratio of 0.51 and a current ratio of 0.92. The company has a market cap of $59.84 billion, a price-to-earnings ratio of 36.97, a PEG ratio of 1.44 and a beta of 0.72.

Cencora (NYSE:COR - Get Free Report) last posted its quarterly earnings data on Wednesday, February 4th. The company reported $4.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.04 by $0.04. Cencora had a net margin of 0.50% and a return on equity of 176.54%. The company had revenue of $85.93 billion for the quarter, compared to the consensus estimate of $86.12 billion. During the same quarter in the previous year, the firm posted $3.73 EPS. The business's revenue was up 5.5% compared to the same quarter last year. Equities research analysts anticipate that Cencora, Inc. will post 17.57 earnings per share for the current year.

Cencora Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Friday, February 13th were paid a $0.60 dividend. The ex-dividend date was Friday, February 13th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.8%. Cencora's dividend payout ratio is currently 28.85%.

Analyst Ratings Changes

COR has been the topic of several recent analyst reports. Evercore set a $360.00 target price on shares of Cencora in a report on Wednesday, April 8th. Jefferies Financial Group upgraded shares of Cencora from an "underperform" rating to a "buy" rating in a report on Thursday, January 22nd. Barclays lifted their target price on shares of Cencora from $400.00 to $425.00 and gave the stock an "overweight" rating in a report on Friday, February 13th. Leerink Partners reiterated an "outperform" rating on shares of Cencora in a report on Tuesday, March 17th. Finally, Weiss Ratings upgraded shares of Cencora from a "hold (c+)" rating to a "buy (b)" rating in a report on Thursday, February 5th. Twelve investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $398.17.

About Cencora

Cencora NYSE: COR is a global healthcare services and pharmaceutical distribution company that provides end-to-end solutions across the pharmaceutical supply chain. The company's core activities include wholesale drug distribution, specialty drug distribution, and the operation of specialty pharmacies, complemented by logistics, cold-chain management and other fulfillment services designed to support complex and temperature-sensitive therapies.

Beyond physical distribution, Cencora offers a range of commercial and patient-focused services for pharmaceutical manufacturers and healthcare providers.

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