Quantbot Technologies LP Sells 62,538 Shares of Cencora, Inc. $COR

Key Points

• Quantbot Technologies LP reduced its stake in Cencora, Inc. by 73.6%, now holding 22,402 shares worth approximately $6.23 million after selling 62,538 shares in the first quarter.
• Cencora's quarterly earnings surpassed expectations, reporting $4.00 earnings per share and revenue of $80.66 billion, an 8.7% increase year-over-year.
• The company will pay a quarterly dividend of $0.55 on September 3rd, representing an annual yield of 0.8% with a payout ratio of 22.63%.

Quantbot Technologies LP cut its position in shares of Cencora, Inc. (NYSE:COR - Free Report) by 73.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,402 shares of the company's stock after selling 62,538 shares during the period. Quantbot Technologies LP's holdings in Cencora were worth $6,230,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of COR. Cornerstone Planning Group LLC increased its stake in shares of 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 purchasing an additional 48 shares during the last quarter. Hoey Investments Inc. acquired a new position in shares of Cencora during the 1st quarter worth about $28,000. Costello Asset Management INC acquired a new position in shares of Cencora during the 1st quarter worth about $28,000. Banque Transatlantique SA acquired a new position in shares of Cencora during the 4th quarter worth about $29,000. Finally, Vermillion Wealth Management Inc. bought a new stake in shares of Cencora during the 4th quarter worth about $38,000. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Cencora

In other news, Chairman Steven H. Collis sold 14,578 shares of the company's stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $292.67, for a total transaction of $4,266,543.26. Following the completion of the sale, the chairman owned 309,913 shares of the company's stock, valued at approximately $90,702,237.71. This represents a 4.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Robert P. Mauch sold 4,968 shares of the company's 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 of the company's stock, valued at approximately $12,455,852.61. This trade represents a 10.50% decrease in their position. 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 in the last three months. Insiders own 10.80% of the company's stock.

Cencora Stock Performance

NYSE COR traded down $10.9810 during trading on Friday, reaching $292.2490. The company's stock had a trading volume of 1,706,519 shares, compared to its average volume of 1,377,487. 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 $56.66 billion, a price-to-earnings ratio of 30.07, a price-to-earnings-growth ratio of 1.39 and a beta of 0.58. 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 $293.48 and a 200 day moving average price of $280.87.

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 firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders 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 dividend on an annualized basis and a yield of 0.8%. Cencora's payout ratio is currently 22.63%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. UBS Group lifted their target price on shares of Cencora from $298.00 to $335.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Jefferies Financial Group lifted their target price 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 target price on shares of Cencora and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. Robert W. Baird lifted their target price on shares of Cencora from $314.00 to $350.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Finally, Wells Fargo & Company lifted 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 equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Cencora currently has a consensus rating of "Moderate Buy" and a consensus price target of $311.25.

About Cencora

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.