Sei Investments Co. Has $93.62 Million Position in Cencora, Inc. $COR

Key Points

• Sei Investments Co. has increased its stake in Cencora, Inc. by 9.9%, now owning 353,841 shares valued at approximately $93.62 million, making it the firm’s 26th largest holding.
• Cencora's stock received increased price targets from multiple analysts, with UBS raising it to $335 and Robert W. Baird to $350, indicating a consensus rating of "Moderate Buy".
• The company announced a $0.55 quarterly dividend with a payout ratio of 22.63%, reflecting a dividend yield of 0.8%.

Sei Investments Co. increased its position in Cencora, Inc. (NYSE:COR - Free Report) by 9.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 353,841 shares of the company's stock after acquiring an additional 31,964 shares during the period. Cencora makes up about 0.9% of Sei Investments Co.'s portfolio, making the stock its 26th biggest holding. Sei Investments Co. owned about 0.18% of Cencora worth $93,619,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Cornerstone Planning Group LLC boosted its holdings in Cencora by 106.7% in the 1st quarter. Cornerstone Planning Group LLC now owns 93 shares of the company's stock worth $26,000 after buying an additional 48 shares during the last quarter. Hoey Investments Inc. purchased a new stake in shares of Cencora during the 1st quarter valued at approximately $28,000. Costello Asset Management INC purchased a new stake in shares of Cencora during the 1st quarter valued at approximately $28,000. Banque Transatlantique SA purchased a new stake in Cencora in the fourth quarter valued at approximately $29,000. Finally, Vermillion Wealth Management Inc. purchased a new stake in Cencora in the fourth quarter valued at approximately $38,000. Hedge funds and other institutional investors own 97.52% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on COR. Robert W. Baird boosted their price target on shares of Cencora from $314.00 to $350.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Citigroup upped their price objective on shares of Cencora from $330.00 to $355.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Morgan Stanley set a $330.00 target price on shares of Cencora and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Jefferies Financial Group upped their target price on shares of Cencora from $275.00 to $300.00 and gave the company a "hold" rating in a report on Monday, June 30th. Finally, UBS Group increased their price target on shares of Cencora from $298.00 to $335.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. 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 stock has an average rating of "Moderate Buy" and an average target price of $311.25.

Insider Buying and Selling

In other Cencora news, CEO Robert P. Mauch sold 4,968 shares of Cencora 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 transaction, the chief executive officer directly owned 42,351 shares in the company, valued at approximately $12,455,852.61. The trade was a 10.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Steven H. Collis sold 14,579 shares of Cencora stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $292.62, for a total transaction of $4,266,106.98. Following the transaction, the chairman owned 311,913 shares in the company, valued at approximately $91,271,982.06. The trade was a 4.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,125 shares of company stock worth $9,993,789 in the last quarter. Company insiders own 10.80% of the company's stock.

Cencora Stock Up 1.7%

Cencora stock traded up $5.05 during trading on Tuesday, reaching $295.40. 287,332 shares of the company's stock were exchanged, compared to its average volume of 1,558,409. The company's 50-day moving average is $292.83 and its two-hundred day moving average is $279.55. The company has a debt-to-equity ratio of 3.64, a quick ratio of 0.53 and a current ratio of 0.90. Cencora, Inc. has a 52-week low of $218.65 and a 52-week high of $309.35. The firm has a market cap of $57.27 billion, a price-to-earnings ratio of 30.38, a PEG ratio of 1.39 and a beta of 0.58.

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, beating 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 company had revenue of $80.66 billion during the quarter, compared to analysts' expectations of $80.34 billion. During the same period in the prior year, the company posted $3.34 EPS. The firm's revenue for the quarter was up 8.7% on a year-over-year basis. On average, analysts predict that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Announces Dividend

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 paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Friday, August 15th. Cencora's dividend payout ratio (DPR) is currently 22.63%.

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.