Cypress Capital Group Has $4.23 Million Holdings in Cencora, Inc. (NYSE:COR)

Key Points

• Cypress Capital Group reduced its stake in Cencora, Inc. by 25.3%, now holding $4.23 million in stock.
• Institutional investors control 97.52% of Cencora's shares, indicating strong institutional interest in the company.
• Cencora reported better than expected earnings at $4.00 per share, surpassing analysts' estimates, with revenue of $80.66 billion for the quarter.

Cypress Capital Group lessened its holdings in Cencora, Inc. (NYSE:COR - Free Report) by 25.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,203 shares of the company's stock after selling 5,153 shares during the quarter. Cypress Capital Group's holdings in Cencora were worth $4,228,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of COR. Bank of America Corp DE raised its holdings in Cencora by 62.3% during the 4th quarter. Bank of America Corp DE now owns 5,193,807 shares of the company's stock worth $1,166,944,000 after buying an additional 1,994,256 shares during the period. Castlekeep Investment Advisors LLC acquired a new stake in Cencora during the 4th quarter worth approximately $399,508,000. GAMMA Investing LLC raised its holdings in Cencora by 43,561.9% during the 1st quarter. GAMMA Investing LLC now owns 1,598,461 shares of the company's stock worth $444,516,000 after buying an additional 1,594,800 shares during the period. Invesco Ltd. raised its holdings in Cencora by 42.1% during the 1st quarter. Invesco Ltd. now owns 4,607,964 shares of the company's stock worth $1,281,429,000 after buying an additional 1,364,433 shares during the period. Finally, Nuveen LLC acquired a new stake in Cencora during the 1st quarter worth approximately $181,284,000. Institutional investors own 97.52% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Citigroup raised their target price on shares of Cencora from $330.00 to $355.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Robert W. Baird raised their target price on shares of Cencora from $314.00 to $350.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Morgan Stanley set a $330.00 price objective on shares of Cencora and gave the company an "equal weight" rating in a report on Wednesday, July 16th. UBS Group lifted their price objective 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, Wells Fargo & Company set a $354.00 price objective on shares of Cencora and gave the company an "overweight" rating in a report on Wednesday. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Cencora currently has a consensus rating of "Moderate Buy" and a consensus price target of $311.25.

Insider Transactions at Cencora

In related news, CEO Robert P. Mauch sold 4,968 shares of the business'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 of the company's stock, valued at $12,455,852.61. The trade was a 10.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Steven H. Collis sold 14,578 shares of the business's stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $292.67, for a total value of $4,266,543.26. Following the completion of the transaction, the chairman directly owned 309,913 shares of the company's stock, valued at approximately $90,702,237.71. This trade 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 currently owned by company insiders.

Cencora Stock Up 1.4%

Shares of NYSE:COR traded up $4.16 during midday trading on Thursday, hitting $295.20. The stock had a trading volume of 1,196,237 shares, compared to its average volume of 1,571,818. 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 business's 50-day simple moving average is $292.47 and its 200-day simple moving average is $278.46. Cencora, Inc. has a 12 month low of $218.65 and a 12 month high of $309.35. The company has a market cap of $57.22 billion, a P/E ratio of 30.37, a PEG ratio of 1.37 and a beta of 0.58.

Cencora (NYSE:COR - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $4.00 EPS for the quarter, topping analysts' consensus estimates of $3.79 by $0.21. Cencora had a net margin of 0.60% and a return on equity of 267.36%. The firm had revenue of $80.66 billion during the quarter, compared to analysts' expectations of $80.34 billion. During the same period in the previous year, the business posted $3.34 earnings per share. The company's revenue for the quarter was up 8.7% compared to the same quarter last year. On average, sell-side analysts forecast that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, August 15th. Cencora's payout ratio 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.