Hsbc Holdings PLC Has $101.77 Million Holdings in Cencora, Inc. $COR

Key Points

• Hsbc Holdings PLC reduced its stake in Cencora, Inc. by 5.4% in Q1, holding 366,063 shares worth approximately $101.77 million after selling 20,764 shares.
• Cencora reported a Q2 earnings of $4.00 EPS, exceeding estimates of $3.79, with revenues hitting $80.66 billion, up 8.7% year-over-year.
• The company declared a quarterly dividend of $0.55, with an upcoming ex-dividend date of August 15, reflecting a low payout ratio of 22.63%.

Hsbc Holdings PLC decreased its position in Cencora, Inc. (NYSE:COR - Free Report) by 5.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 366,063 shares of the company's stock after selling 20,764 shares during the quarter. Hsbc Holdings PLC owned 0.19% of Cencora worth $101,766,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of COR. Exchange Traded Concepts LLC increased its stake in shares of Cencora by 4.5% in the first quarter. Exchange Traded Concepts LLC now owns 1,104 shares of the company's stock worth $307,000 after buying an additional 48 shares during the last quarter. Dynamic Advisor Solutions LLC grew its holdings in Cencora by 6.4% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 1,535 shares of the company's stock worth $427,000 after acquiring an additional 93 shares in the last quarter. GAMMA Investing LLC grew its holdings in Cencora by 57.0% during the 1st quarter. GAMMA Investing LLC now owns 5,748 shares of the company's stock worth $1,598,000 after acquiring an additional 2,087 shares in the last quarter. Golden State Wealth Management LLC grew its holdings in Cencora by 157.6% during the 1st quarter. Golden State Wealth Management LLC now owns 170 shares of the company's stock worth $47,000 after acquiring an additional 104 shares in the last quarter. Finally, Leith Wheeler Investment Counsel Ltd. grew its holdings in Cencora by 5.2% during the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 82,952 shares of the company's stock worth $18,638,000 after acquiring an additional 4,126 shares in the last quarter. Institutional investors and hedge funds own 97.52% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on COR. Wells Fargo & Company raised their price objective on shares of Cencora from $337.00 to $354.00 and gave the stock an "overweight" rating in a report on Wednesday, August 13th. Citigroup raised their price objective 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 upped their price target on Cencora from $314.00 to $350.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Morgan Stanley set a $330.00 price objective on Cencora and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. Finally, Jefferies Financial Group raised their price objective on Cencora from $275.00 to $300.00 and gave the stock a "hold" rating in a research note on Monday, June 30th. Nine equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $311.25.

Insider Activity

In related news, CEO Robert P. Mauch sold 4,968 shares of Cencora stock in a transaction dated 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 transaction, the chief executive officer directly 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Steven H. Collis sold 14,578 shares of Cencora stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $292.67, for a total value of $4,266,543.26. Following the transaction, the chairman directly owned 309,913 shares in the company, valued at approximately $90,702,237.71. The trade was a 4.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,125 shares of company stock valued at $9,993,789 in the last ninety days. Corporate insiders own 10.80% of the company's stock.

Cencora Stock Performance

Shares of NYSE COR traded down $4.6280 during midday trading on Monday, reaching $287.9720. 767,798 shares of the company traded hands, compared to its average volume of 1,559,459. The company has a market cap of $55.83 billion, a price-to-earnings ratio of 29.63, a PEG ratio of 1.39 and a beta of 0.58. The stock has a 50-day moving average price of $293.48 and a 200 day moving average price of $280.87. Cencora, Inc. has a 52 week low of $218.65 and a 52 week high of $309.35. The company has a debt-to-equity ratio of 3.64, a current ratio of 0.90 and a quick ratio of 0.53.

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

Cencora Dividend Announcement

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

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.