Robeco Institutional Asset Management B.V. Raises Position in Cencora, Inc. $COR

Key Points

• Robeco Institutional Asset Management B.V. significantly increased its stake in Cencora, Inc. by 232.1% during Q2, now holding 178,345 shares valued at approximately $53.5 million.
• Cencora reported a net revenue of $80.66 billion for the latest quarter, outperforming analysts' estimates and showing an 8.7% year-over-year increase.
• The company announced a quarterly dividend of $0.55 per share, representing an annualized yield of 0.7%, with a payout ratio of 22.63%.

Robeco Institutional Asset Management B.V. raised its position in Cencora, Inc. (NYSE:COR - Free Report) by 232.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 178,345 shares of the company's stock after acquiring an additional 124,639 shares during the quarter. Robeco Institutional Asset Management B.V. owned approximately 0.09% of Cencora worth $53,477,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Merit Financial Group LLC increased its position in shares of Cencora by 47.6% during the first quarter. Merit Financial Group LLC now owns 9,749 shares of the company's stock valued at $2,711,000 after buying an additional 3,146 shares during the period. Clare Market Investments LLC increased its position in shares of Cencora by 45.8% during the first quarter. Clare Market Investments LLC now owns 8,750 shares of the company's stock valued at $2,433,000 after buying an additional 2,750 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Cencora by 22.9% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 8,661 shares of the company's stock valued at $2,408,000 after buying an additional 1,613 shares during the period. Vest Financial LLC purchased a new position in shares of Cencora during the first quarter valued at about $240,000. Finally, Curat Global LLC purchased a new position in shares of Cencora during the first quarter valued at about $111,000. Hedge funds and other institutional investors own 97.52% of the company's stock.

Cencora Trading Down 0.9%

NYSE:COR opened at $308.89 on Friday. 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, Inc. has a 12 month low of $218.65 and a 12 month high of $315.23. The company has a market cap of $59.89 billion, a PE ratio of 31.78, a price-to-earnings-growth ratio of 1.46 and a beta of 0.63. The company has a 50 day simple moving average of $294.44 and a two-hundred day simple moving average of $289.82.

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

Cencora Dividend Announcement

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

Insider Activity

In other Cencora news, Chairman Steven H. Collis sold 31,350 shares of the stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $289.86, for a total transaction of $9,087,111.00. Following the completion of the transaction, the chairman owned 305,913 shares of the company's stock, valued at $88,671,942.18. This represents a 9.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert P. Mauch sold 5,097 shares of the stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $290.00, for a total transaction of $1,478,130.00. Following the transaction, the chief executive officer directly owned 39,274 shares of the company's stock, valued at $11,389,460. This trade represents a 11.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,993 shares of company stock valued at $16,292,923 in the last three months. Insiders own 10.80% of the company's stock.

Wall Street Analyst Weigh In

COR has been the topic of several research analyst reports. Morgan Stanley set a $330.00 price target on shares of Cencora and gave the company an "equal weight" rating in a research report on Wednesday, July 16th. Wells Fargo & Company boosted their price target on shares of Cencora from $337.00 to $354.00 and gave the company an "overweight" rating in a research report on Wednesday, August 13th. Finally, Jefferies Financial Group upped their price objective on shares of Cencora from $275.00 to $300.00 and gave the stock a "hold" rating in a report on Monday, June 30th. Nine research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $311.25.

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.

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