CX Institutional Has $3.22 Million Stake in Cencora, Inc. $COR

Key Points

• CX Institutional has reduced its stake in Cencora, Inc. (NYSE:COR) by 28.5%, selling 4,273 shares, leaving them with 10,743 shares worth approximately $3.22 million.
• Cencora reported a quarterly earnings per share of $4.00, exceeding estimates, with revenues reaching $80.66 billion, an increase of 8.7% year-over-year.
• The company announced a quarterly dividend of $0.55, translating to an annualized dividend yield of 0.8%, with a payout ratio of 22.63%.

CX Institutional lowered its holdings in shares of Cencora, Inc. (NYSE:COR - Free Report) by 28.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,743 shares of the company's stock after selling 4,273 shares during the quarter. CX Institutional's holdings in Cencora were worth $3,221,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. UMB Bank n.a. grew its holdings in Cencora by 6.9% during the second quarter. UMB Bank n.a. now owns 1,558 shares of the company's stock valued at $467,000 after purchasing an additional 101 shares during the period. Brendel Financial Advisors LLC bought a new stake in shares of Cencora in the 2nd quarter valued at $1,899,000. Grove Bank & Trust grew its stake in shares of Cencora by 4.3% in the 2nd quarter. Grove Bank & Trust now owns 879 shares of the company's stock worth $264,000 after acquiring an additional 36 shares in the last quarter. Clare Market Investments LLC grew its position in Cencora by 34.7% during the second quarter. Clare Market Investments LLC now owns 11,790 shares of the company's stock valued at $3,535,000 after buying an additional 3,040 shares during the period. Finally, Redhawk Wealth Advisors Inc. lifted its holdings in Cencora by 6.5% during the second quarter. Redhawk Wealth Advisors Inc. now owns 12,507 shares of the company's stock valued at $3,750,000 after purchasing an additional 760 shares during the last quarter. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Cencora Price Performance

Cencora stock traded down $0.52 during mid-day trading on Friday, hitting $290.32. 7,182,669 shares of the company traded hands, compared to its average volume of 1,681,896. The stock has a market cap of $56.29 billion, a price-to-earnings ratio of 29.87, a price-to-earnings-growth ratio of 1.48 and a beta of 0.62. Cencora, Inc. has a one year low of $218.65 and a one year high of $309.35. The stock has a fifty day moving average price of $292.42 and a 200-day moving average price of $287.29. 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 announced its quarterly 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 company had revenue of $80.66 billion for the quarter, compared to analysts' expectations of $80.34 billion. Cencora had a net margin of 0.60% and a return on equity of 267.36%. Cencora's revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.34 EPS. On average, equities analysts predict that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Friday, August 15th were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Friday, August 15th. Cencora's payout ratio is presently 22.63%.

Analysts Set New Price Targets

Several research firms recently weighed in on COR. Wells Fargo & Company lifted their price target on shares of 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 company an "equal weight" rating in a research note on Wednesday, July 16th. Finally, Jefferies Financial Group lifted their price target on Cencora from $275.00 to $300.00 and gave the stock a "hold" rating in a research note on Monday, June 30th. Nine analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Cencora currently has an average rating of "Moderate Buy" and a consensus price target of $311.25.

Insiders Place Their Bets

In other news, Chairman Steven H. Collis sold 31,350 shares of Cencora stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $289.86, for a total value of $9,087,111.00. Following the transaction, the chairman directly owned 305,913 shares of the company's stock, valued at $88,671,942.18. The trade was a 9.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Robert P. Mauch sold 4,968 shares of the business's stock in a transaction that occurred 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 owned 42,351 shares of the company's stock, valued at $12,455,852.61. This represents a 10.50% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 65,475 shares of company stock valued at $19,080,900. Company insiders own 10.80% of the company's stock.

Cencora 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.