Earnest Partners LLC Reduces Position in Cencora, Inc. $COR

Key Points

• Earnest Partners trimmed its stake in Cencora by 2.3% in Q3 to 235,086 shares (about $73.47M), while institutional investors collectively own roughly 97.52% of the stock.
• Sell‑side sentiment is largely positive with 11 Buy and 2 Hold ratings, a consensus "Moderate Buy" and an average price target of $399; several firms recently raised targets (Wells Fargo $429, Barclays $425, JPMorgan $419).
• Company insiders have been net sellers recently, offloading a total of 15,220 shares worth about $5.28M in the last 90 days, leaving insiders with approximately 0.38% ownership.

Earnest Partners LLC lessened its holdings in shares of Cencora, Inc. (NYSE:COR - Free Report) by 2.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 235,086 shares of the company's stock after selling 5,602 shares during the quarter. Earnest Partners LLC owned about 0.12% of Cencora worth $73,471,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of COR. United Bank grew its stake in Cencora by 4.5% in the 2nd quarter. United Bank now owns 7,032 shares of the company's stock valued at $2,109,000 after buying an additional 305 shares in the last quarter. Advisors Capital Management LLC lifted its position in shares of Cencora by 2.2% during the second quarter. Advisors Capital Management LLC now owns 2,808 shares of the company's stock worth $842,000 after acquiring an additional 61 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Cencora by 7.2% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 42,307 shares of the company's stock worth $12,686,000 after acquiring an additional 2,839 shares in the last quarter. Creative Planning boosted its holdings in shares of Cencora by 94.0% in the second quarter. Creative Planning now owns 68,069 shares of the company's stock worth $20,410,000 after acquiring an additional 32,980 shares during the period. Finally, Intech Investment Management LLC boosted its holdings in shares of Cencora by 10.1% in the second quarter. Intech Investment Management LLC now owns 37,591 shares of the company's stock worth $11,272,000 after acquiring an additional 3,447 shares during the period. Hedge funds and other institutional investors own 97.52% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on COR. Weiss Ratings upgraded Cencora from a "hold (c+)" rating to a "buy (b)" rating in a research note on Thursday, February 5th. JPMorgan Chase & Co. raised their target price on Cencora from $417.00 to $419.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 10th. Wells Fargo & Company lifted their target price on Cencora from $405.00 to $429.00 and gave the company an "overweight" rating in a report on Tuesday, February 10th. Bank of America decreased their price target on Cencora from $380.00 to $360.00 and set a "neutral" rating on the stock in a research report on Monday, January 5th. Finally, Barclays increased their price target on shares of Cencora from $400.00 to $425.00 and gave the stock an "overweight" rating in a report on Friday, February 13th. Eleven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Cencora presently has a consensus rating of "Moderate Buy" and an average target price of $399.00.

Insider Activity at Cencora

In related news, EVP Elizabeth S. Campbell sold 3,351 shares of the stock in a transaction on Friday, December 19th. The stock was sold at an average price of $342.10, for a total value of $1,146,377.10. Following the transaction, the executive vice president owned 23,891 shares of the company's stock, valued at $8,173,111.10. This represents a 12.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert P. Mauch sold 5,096 shares of the firm's stock in a transaction dated Tuesday, January 20th. The shares were sold at an average price of $354.73, for a total value of $1,807,704.08. Following the sale, the chief executive officer owned 66,726 shares in the company, valued at $23,669,713.98. The trade was a 7.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 15,220 shares of company stock valued at $5,282,867 over the last 90 days. 0.38% of the stock is owned by insiders.

Cencora Trading Down 0.8%

Shares of COR opened at $349.69 on Monday. Cencora, Inc. has a 1-year low of $252.49 and a 1-year high of $377.54. The company has a market capitalization of $68.03 billion, a P/E ratio of 42.03, a P/E/G ratio of 1.63 and a beta of 0.68. The company has a debt-to-equity ratio of 3.62, a current ratio of 0.92 and a quick ratio of 0.51. The firm's 50 day simple moving average is $355.58 and its 200 day simple moving average is $338.81.

Cencora (NYSE:COR - Get Free Report) last released its quarterly earnings results on Wednesday, February 4th. The company reported $4.08 EPS for the quarter, topping analysts' consensus estimates of $4.04 by $0.04. The business had revenue of $85.93 billion during the quarter, compared to analysts' expectations of $86.12 billion. Cencora had a net margin of 0.50% and a return on equity of 176.54%. The business's quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.73 EPS. Sell-side analysts forecast that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Friday, February 13th were given a $0.60 dividend. The ex-dividend date was Friday, February 13th. This represents a $2.40 annualized dividend and a yield of 0.7%. Cencora's payout ratio is 28.85%.

Cencora Company Profile

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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