First Hawaiian Bank Decreases Stock Holdings in Cencora, Inc. $COR

Key Points

• First Hawaiian Bank has significantly reduced its position in Cencora, Inc. by 90.6%, selling 9,651 shares to end up with only 1,003 shares valued at approximately $279,000.
• In a recent quarterly earnings report, Cencora announced an EPS of $4.00, exceeding analysts' expectations, and generated $80.66 billion in revenue for the quarter.
• Several analysts have set new price targets for Cencora, with Wells Fargo raising their target to $354.00, reflecting a strong market interest and a consensus rating of "Moderate Buy."

First Hawaiian Bank trimmed its position in shares of Cencora, Inc. (NYSE:COR - Free Report) by 90.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,003 shares of the company's stock after selling 9,651 shares during the quarter. First Hawaiian Bank's holdings in Cencora were worth $279,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Cornerstone Planning Group LLC boosted its holdings in Cencora by 106.7% during the 1st quarter. Cornerstone Planning Group LLC now owns 93 shares of the company's stock worth $26,000 after acquiring an additional 48 shares during the last quarter. Hoey Investments Inc. purchased a new position in shares of Cencora in the 1st quarter worth about $28,000. Costello Asset Management INC purchased a new position in shares of Cencora in the 1st quarter worth about $28,000. Vermillion Wealth Management Inc. purchased a new position in shares of Cencora in the 4th quarter worth about $38,000. Finally, University of Texas Texas AM Investment Management Co. purchased a new position in shares of Cencora in the 1st quarter worth about $39,000. 97.52% of the stock is owned by hedge funds and other institutional investors.

Cencora Stock Down 0.2%

Shares of NYSE:COR traded down $0.52 on Friday, hitting $290.32. 7,182,669 shares of the company traded hands, compared to its average volume of 1,405,903. Cencora, Inc. has a 52 week low of $218.65 and a 52 week high of $309.35. The stock has a 50 day simple moving average of $292.42 and a 200-day simple moving average of $286.81. The company has a market cap of $56.29 billion, a PE ratio of 29.87, a PEG ratio of 1.38 and a beta of 0.62. The company has a quick ratio of 0.53, a current ratio of 0.90 and a debt-to-equity ratio of 3.64.

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 the consensus estimate of $3.79 by $0.21. The company had revenue of $80.66 billion during the quarter, compared to the consensus estimate of $80.34 billion. Cencora had a return on equity of 267.36% and a net margin of 0.60%.Cencora's revenue for the quarter was up 8.7% on a year-over-year basis. During the same period last year, the company earned $3.34 EPS. As a group, research analysts expect that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Dividend Announcement

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

Insider Buying and Selling

In related news, Chairman Steven H. Collis sold 31,350 shares of the business's stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $289.86, for a total transaction of $9,087,111.00. Following the completion of the transaction, the chairman directly owned 305,913 shares in the company, valued at approximately $88,671,942.18. The trade was a 9.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through 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 approximately $12,455,852.61. This trade represents a 10.50% decrease in their ownership of the stock. 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. 10.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

COR has been the topic of a number of research analyst reports. Jefferies Financial Group boosted their price target on shares of Cencora from $275.00 to $300.00 and gave the stock a "hold" rating in a report on Monday, June 30th. Morgan Stanley set a $330.00 price target on shares of Cencora and gave the company an "equal weight" rating in a research report on Wednesday, July 16th. Finally, Wells Fargo & Company raised their target price on shares of Cencora from $337.00 to $354.00 and gave the stock an "overweight" rating in a report on Wednesday, August 13th. Nine investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Cencora currently has a consensus rating of "Moderate Buy" and a consensus target price of $311.25.

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.