Great Lakes Advisors LLC Has $104.83 Million Holdings in Cencora, Inc. $COR

Key Points

• Great Lakes Advisors LLC has reduced its stake in Cencora, Inc. by 2.2%, owning 376,081 shares after selling 8,607 shares in the first quarter, representing about 0.9% of its total holdings.
• Insider transactions include Chairman Steven H. Collis selling 14,578 shares and CEO Robert P. Mauch selling 4,968 shares, resulting in notable decreases in their respective ownerships by 4.49% and 10.50%.
• Cencora reported a quarterly earnings of $4.00 per share, exceeding analysts' expectations, with revenues reaching $80.66 billion, a 8.7% increase year-over-year.

Great Lakes Advisors LLC lowered its stake in shares of Cencora, Inc. (NYSE:COR - Free Report) by 2.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 376,081 shares of the company's stock after selling 8,607 shares during the period. Cencora accounts for approximately 0.9% of Great Lakes Advisors LLC's portfolio, making the stock its 26th biggest holding. Great Lakes Advisors LLC owned 0.19% of Cencora worth $104,828,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Net Worth Advisory Group raised its stake in Cencora by 1.4% during the 1st quarter. Net Worth Advisory Group now owns 2,645 shares of the company's stock valued at $736,000 after acquiring an additional 36 shares in the last quarter. Obermeyer Wealth Partners raised its position in shares of Cencora by 1.3% during the first quarter. Obermeyer Wealth Partners now owns 2,724 shares of the company's stock worth $758,000 after purchasing an additional 36 shares during the period. Cromwell Holdings LLC raised its position in shares of Cencora by 9.5% during the first quarter. Cromwell Holdings LLC now owns 450 shares of the company's stock worth $125,000 after purchasing an additional 39 shares during the period. Pinnacle Wealth Management Advisory Group LLC raised its position in shares of Cencora by 2.7% during the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,565 shares of the company's stock worth $435,000 after purchasing an additional 41 shares during the period. Finally, Private Trust Co. NA raised its position in shares of Cencora by 2.5% during the first quarter. Private Trust Co. NA now owns 1,933 shares of the company's stock worth $538,000 after purchasing an additional 47 shares during the period. Institutional investors and hedge funds own 97.52% of the company's stock.

Insider Buying and Selling

In related news, CEO Robert P. Mauch sold 4,968 shares of the stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $294.11, for a total transaction of $1,461,138.48. Following the sale, the chief executive officer directly owned 42,351 shares in the company, valued at $12,455,852.61. This represents a 10.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Steven H. Collis sold 14,579 shares of the stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $292.62, for a total value of $4,266,106.98. Following the completion of the transaction, the chairman owned 311,913 shares in the company, valued at $91,271,982.06. The trade was a 4.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over 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 insiders.

Cencora Stock Performance

NYSE:COR traded up $0.03 during mid-day trading on Friday, hitting $302.83. 1,189,360 shares of the company's stock traded hands, compared to its average volume of 1,313,938. The firm has a 50 day moving average of $293.24 and a two-hundred day moving average of $285.50. Cencora, Inc. has a 12 month low of $218.65 and a 12 month high of $309.35. The firm has a market capitalization of $58.71 billion, a price-to-earnings ratio of 31.16, a price-to-earnings-growth ratio of 1.44 and a beta of 0.62. The company has a current ratio of 0.90, a quick ratio of 0.53 and a debt-to-equity ratio of 3.64.

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

Cencora Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th were issued a $0.55 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.7%. Cencora's dividend payout ratio is presently 22.63%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Jefferies Financial Group upped their price target on Cencora from $275.00 to $300.00 and gave the company a "hold" rating in a research report on Monday, June 30th. Morgan Stanley set a $330.00 price target on Cencora and gave the company an "equal weight" rating in a research report on Wednesday, July 16th. Finally, Wells Fargo & Company upped their price target on Cencora from $337.00 to $354.00 and gave the company an "overweight" rating in a research report on Wednesday, August 13th. Nine equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average 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.