Pensionfund Sabic Sells 1,600 Shares of Cencora, Inc. $COR

Key Points

• Pensionfund Sabic reduced its stake in Cencora, Inc. by 22.2%, owning 5,600 shares worth approximately $1.56 million after selling 1,600 shares in Q1.
• Insider transactions show Chairman Steven H. Collis and CEO Robert P. Mauch sold significant shares, totaling over $5.7 million, indicating a decrease in their ownership by 4.47% and 10.50% respectively.
• Analysts have upgraded Cencora's stock targets, with firms like Jefferies and Wells Fargo increasing their price targets, reflecting a general consensus rating of "Moderate Buy."

Pensionfund Sabic cut its holdings in Cencora, Inc. (NYSE:COR - Free Report) by 22.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,600 shares of the company's stock after selling 1,600 shares during the quarter. Pensionfund Sabic's holdings in Cencora were worth $1,557,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on COR shares. Morgan Stanley set a $330.00 price objective on shares of Cencora and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. Jefferies Financial Group lifted their price target on shares of Cencora from $275.00 to $300.00 and gave the company a "hold" rating in a research note on Monday, June 30th. Finally, Wells Fargo & Company lifted their price target on shares of Cencora from $337.00 to $354.00 and gave the company an "overweight" rating in a research note 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 company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $311.25.

Insider Activity at Cencora

In other news, Chairman Steven H. Collis sold 14,579 shares of the business's stock in a transaction that occurred 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 directly owned 311,913 shares in the company, valued at approximately $91,271,982.06. The trade was a 4.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 transaction of $1,461,138.48. Following the completion of the transaction, the chief executive officer 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 disclosure for this sale can be found here. Insiders sold a total of 34,125 shares of company stock valued at $9,993,789 over the last 90 days. Corporate insiders own 10.80% of the company's stock.

Cencora Stock Performance

NYSE COR traded up $0.27 during trading on Thursday, reaching $289.35. The company's stock had a trading volume of 548,894 shares, compared to its average volume of 1,550,418. The company has a current ratio of 0.90, a quick ratio of 0.53 and a debt-to-equity ratio of 3.64. The firm has a market capitalization of $56.10 billion, a price-to-earnings ratio of 29.66, a price-to-earnings-growth ratio of 1.38 and a beta of 0.62. Cencora, Inc. has a 12 month low of $218.65 and a 12 month high of $309.35. The firm has a 50 day moving average price of $292.65 and a 200 day moving average price of $286.31.

Cencora (NYSE:COR - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $4.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.79 by $0.21. The firm 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 business's revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.34 EPS. As a group, equities analysts anticipate that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th were given a $0.55 dividend. The ex-dividend date was Friday, August 15th. This represents a $2.20 annualized dividend and a dividend yield of 0.8%. Cencora's payout ratio is presently 22.63%.

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.