Cencora, Inc. $COR Shares Sold by CSM Advisors LLC

Key Points

• CSM Advisors LLC reduced its holdings in Cencora, Inc. by 4.8% to 25,347 shares, which are now valued at approximately $7.05 million.
• Cencora's stock is currently down 3.6% and has a market capitalization of $56.66 billion, with a P/E ratio of 30.07.
• The company recently announced a $0.55 quarterly dividend, representing an annual yield of 0.8%, with a payout ratio of 22.63%.

CSM Advisors LLC trimmed its position in shares of Cencora, Inc. (NYSE:COR - Free Report) by 4.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 25,347 shares of the company's stock after selling 1,270 shares during the period. CSM Advisors LLC's holdings in Cencora were worth $7,048,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD increased its holdings in shares of Cencora by 8.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,647,310 shares of the company's stock valued at $2,682,821,000 after acquiring an additional 787,858 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Cencora by 7.2% in the first quarter. Wellington Management Group LLP now owns 5,421,262 shares of the company's stock valued at $1,507,599,000 after purchasing an additional 363,402 shares in the last quarter. Boston Partners boosted its holdings in Cencora by 8.1% in the first quarter. Boston Partners now owns 5,411,193 shares of the company's stock valued at $1,505,984,000 after purchasing an additional 404,093 shares in the last quarter. Bank of America Corp DE increased its stake in Cencora by 62.3% in the fourth quarter. Bank of America Corp DE now owns 5,193,807 shares of the company's stock valued at $1,166,944,000 after purchasing an additional 1,994,256 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in Cencora by 42.1% during the first quarter. Invesco Ltd. now owns 4,607,964 shares of the company's stock worth $1,281,429,000 after purchasing an additional 1,364,433 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on COR shares. Citigroup lifted their price target on shares of Cencora from $330.00 to $355.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Jefferies Financial Group lifted their target price on Cencora from $275.00 to $300.00 and gave the stock a "hold" rating in a research report on Monday, June 30th. Wells Fargo & Company boosted their target price on Cencora from $337.00 to $354.00 and gave the company an "overweight" rating in a report on Wednesday, August 13th. Morgan Stanley set a $330.00 price target on Cencora and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. Finally, Robert W. Baird boosted their price objective on Cencora from $314.00 to $350.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Nine investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Cencora presently has an average rating of "Moderate Buy" and a consensus price target of $311.25.

Cencora Stock Performance

NYSE COR traded down $0.53 during trading hours on Thursday, hitting $290.03. 1,058,447 shares of the stock were exchanged, compared to its average volume of 1,419,257. 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 company has a market cap of $56.23 billion, a price-to-earnings ratio of 18.76, a price-to-earnings-growth ratio of 1.38 and a beta of 0.58. Cencora, Inc. has a 12-month low of $218.65 and a 12-month high of $309.35. The stock has a 50-day moving average of $293.07 and a 200 day moving average of $281.58.

Cencora (NYSE:COR - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $4.00 earnings per share for the quarter, beating analysts' consensus estimates of $3.79 by $0.21. The company had revenue of $80.66 billion for the quarter, compared to analyst estimates of $80.34 billion. Cencora had a return on equity of 267.36% and a net margin of 0.60%.The firm's revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.34 EPS. As a group, equities research analysts forecast that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th will be given a $0.55 dividend. The ex-dividend date is Friday, August 15th. This represents a $2.20 annualized dividend and a yield of 0.8%. Cencora's dividend payout ratio is presently 22.63%.

Insiders Place Their Bets

In related news, CEO Robert P. Mauch sold 4,968 shares of the firm's stock in a transaction dated 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 completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Steven H. Collis sold 14,578 shares of the business's stock in a transaction dated Tuesday, July 22nd. The stock was 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 in the company, valued at approximately $90,702,237.71. This represents a 4.49% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 34,125 shares of company stock valued at $9,993,789. 10.80% of the stock is owned by corporate insiders.

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.