Islay Capital Management LLC Sells 3,068 Shares of Cencora, Inc. $COR

Key Points

• Islay Capital Management cut its Cencora stake by 81.3% in the third quarter, selling 3,068 shares and retaining 704 shares worth approximately $211,000. Institutional investors collectively own 97.52% of the company.
• Cencora exceeded quarterly expectations with adjusted EPS of $4.48 versus the $4.35 consensus and revenue of $84.75 billion, up 5.1% year over year. The company also pays a quarterly dividend of $0.60 per share, yielding approximately 0.7% annually.
• Analyst sentiment remains favorable, with a consensus rating of “Moderate Buy” and an average price target of $366.31, although UBS recently lowered its target to $400. Shares recently traded at $341.91.

Islay Capital Management LLC lessened its holdings in Cencora, Inc. (NYSE:COR - Free Report) by 81.3% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 704 shares of the company's stock after selling 3,068 shares during the period. Islay Capital Management LLC's holdings in Cencora were worth $211,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Deutsche Bank AG bought a new stake in Cencora during the 2nd quarter valued at about $286,673,000. Impact Partnership Wealth LLC purchased a new stake in shares of Cencora in the first quarter valued at approximately $1,170,000. SEB Asset Management AB purchased a new position in Cencora during the 1st quarter worth $134,139,000. Wedge Capital Management L L P NC raised its position in Cencora by 31.0% during the 2nd quarter. Wedge Capital Management L L P NC now owns 105,614 shares of the company's stock valued at $29,887,000 after purchasing an additional 24,968 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in Cencora during the 2nd quarter valued at $841,000. Institutional investors own 97.52% of the company's stock.

Insider Activity at Cencora

In related news, EVP Elizabeth Campbell sold 11,300 shares of the stock in a transaction on Monday, August 24th. The shares were sold at an average price of $324.12, for a total transaction of $3,662,556.00. Following the sale, the executive vice president directly owned 19,455 shares of the company's stock, valued at approximately $6,305,754.60. This represents a 36.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.38% of the stock is owned by insiders.

Cencora Stock Performance

Shares of NYSE:COR traded up $1.91 during midday trading on Tuesday, reaching $341.91. The company's stock had a trading volume of 274,396 shares, compared to its average volume of 1,468,334. The firm has a market capitalization of $65.25 billion, a PE ratio of 25.41, a P/E/G ratio of 1.75 and a beta of 0.58. Cencora, Inc. has a twelve month low of $244.82 and a twelve month high of $377.54. The stock has a fifty day moving average of $320.70 and a 200 day moving average of $303.48. The company has a quick ratio of 0.58, a current ratio of 0.93 and a debt-to-equity ratio of 3.53.

Cencora (NYSE:COR - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $4.48 EPS for the quarter, beating the consensus estimate of $4.35 by $0.13. The company had revenue of $84.75 billion for the quarter, compared to analyst estimates of $84.31 billion. Cencora had a net margin of 0.79% and a return on equity of 125.45%. The firm's revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the company earned $4.00 earnings per share. On average, equities analysts expect that Cencora, Inc. will post 17.87 EPS for the current fiscal year.

Cencora Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Friday, August 14th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.7%. Cencora's dividend payout ratio (DPR) is presently 17.83%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Bank of America upped their price objective on shares of Cencora from $285.00 to $310.00 in a research note on Tuesday, July 21st. JPMorgan Chase & Co. boosted their price objective on shares of Cencora from $382.00 to $390.00 and gave the stock an "overweight" rating in a research note on Friday, August 7th. UBS Group decreased their price objective on Cencora from $430.00 to $400.00 and set a "buy" rating for the company in a research note on Friday. Robert W. Baird boosted their target price on Cencora from $370.00 to $373.00 and gave the stock an "outperform" rating in a research note on Monday, October 12th. Finally, Wall Street Zen raised Cencora from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Fourteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $366.31.

Cencora News Roundup

Here are the key news stories impacting Cencora this week:

• Positive Sentiment: Argus raises price target and rating: Argus lifted its target for Cencora from $340 to $380 and assigned a Buy rating. The new target implies roughly 11% upside from the reported share price, providing the strongest immediate bullish catalyst. Cencora Inc (COR) PT Raised to $380 at Argus
• Positive Sentiment: ETF buying signals institutional interest: Twenty-six ETFs added to their Cencora holdings on October 16. Although the purchases do not necessarily reflect a new fundamental development, they may support demand for the stock and investor sentiment. 26 ETFs Add to Cencora Holdings
• Neutral Sentiment: Valuation remains a key focus: Coverage has highlighted Cencora’s approximately 25.36 price-to-earnings ratio as a valuation reference point. This suggests the stock is being assessed on whether its earnings growth can justify its current multiple. Cencora Valuation Anchor
• Neutral Sentiment: Quarterly results are the next major catalyst: Recent coverage describes the stock trading ahead of quarterly results, leaving investors watching for updates on revenue, earnings, and guidance. Cencora’s latest reported quarter exceeded consensus estimates, with revenue up 5.1% year over year. Cencora Ahead of Quarterly Results
• Negative Sentiment: UBS trims its target: UBS reduced its price target to $400. While the revised target remains above the reported trading level, the cut represents a more cautious view and partially counters Argus’s bullish revision. UBS Cuts Target for Cencora

Cencora Company Profile

Cencora, formerly known as AmerisourceBergen, is a global pharmaceutical sourcing and distribution company. It provides branded, generic and specialty pharmaceuticals, over-the-counter products and related health care supplies to pharmacies, hospitals, health systems, physician practices and other health care providers.

The company also offers services to pharmaceutical and biotechnology manufacturers, including logistics, commercialization support, market access, consulting, clinical trial support and patient assistance programs.

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