TD Waterhouse Canada Inc. Sells 71,499 Shares of Cencora, Inc. $COR

Key Points

• TD Waterhouse Canada cut its Cencora stake by 52.2%, selling 71,499 shares and retaining 65,385 shares valued at approximately $18.9 million. Institutional investors still own 97.52% of the company.
• Cencora reported quarterly results above expectations, with adjusted earnings of $4.48 per share and revenue of $84.75 billion, up 5.1% year over year. The company also authorized a $2 billion share-repurchase program and pays a quarterly dividend of $0.60 per share.
• Analyst sentiment remains favorable, with 13 Buy ratings and three Holds, producing a consensus “Moderate Buy” rating and an average price target of $370.85.

TD Waterhouse Canada Inc. trimmed its holdings in Cencora, Inc. (NYSE:COR - Free Report) by 52.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,385 shares of the company's stock after selling 71,499 shares during the quarter. TD Waterhouse Canada Inc.'s holdings in Cencora were worth $18,863,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the business. United Bank boosted its holdings in shares of Cencora by 4.5% during the 2nd quarter. United Bank now owns 7,032 shares of the company's stock worth $2,109,000 after buying an additional 305 shares in the last quarter. Nebula Research & Development LLC acquired a new stake in shares of Cencora during the 2nd quarter worth approximately $595,000. Treasurer of the State of North Carolina increased its stake in shares of Cencora by 7.9% in the 2nd quarter. Treasurer of the State of North Carolina now owns 85,534 shares of the company's stock valued at $25,647,000 after acquiring an additional 6,244 shares in the last quarter. Diversify Advisory Services LLC lifted its position in shares of Cencora by 94.1% during the 2nd quarter. Diversify Advisory Services LLC now owns 2,585 shares of the company's stock valued at $747,000 after acquiring an additional 1,253 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in shares of Cencora by 26.0% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 73,452 shares of the company's stock valued at $22,025,000 after acquiring an additional 15,154 shares during the period. Institutional investors own 97.52% of the company's stock.

Insider Buying and Selling

In other news, Director Lauren M. Tyler bought 550 shares of the company's stock in a transaction on Monday, June 22nd. The shares were purchased at an average price of $270.23 per share, with a total value of $148,626.50. Following the transaction, the director directly owned 4,359 shares in the company, valued at $1,177,932.57. This represents a 14.44% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Elizabeth S. Campbell sold 11,300 shares of the business's stock in a transaction on Monday, August 24th. The stock was sold at an average price of $324.12, for a total value of $3,662,556.00. Following the completion of the transaction, the executive vice president directly owned 19,455 shares in the company, valued at approximately $6,305,754.60. This represents a 36.74% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.38% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on COR. Weiss Ratings raised shares of Cencora from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, August 6th. Evercore reiterated an "outperform" rating and set a $350.00 price objective on shares of Cencora in a report on Thursday, August 6th. Citigroup reissued a "buy" rating on shares of Cencora in a research report on Thursday, August 6th. UBS Group raised their target price on Cencora from $412.00 to $430.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Finally, Royal Bank Of Canada began coverage on Cencora in a research report on Wednesday, August 19th. They issued a "sector perform" rating and a $330.00 target price for the company. Thirteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Cencora presently has a consensus rating of "Moderate Buy" and an average price target of $370.85.

Cencora Stock Performance

NYSE COR opened at $330.52 on Friday. The company has a market cap of $63.07 billion, a P/E ratio of 24.56, a PEG ratio of 1.91 and a beta of 0.57. The company has a fifty day simple moving average of $312.33 and a 200 day simple moving average of $309.88. The company has a current ratio of 0.93, a quick ratio of 0.58 and a debt-to-equity ratio of 3.53. Cencora, Inc. has a 12-month low of $244.82 and a 12-month high of $377.54.

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

Cencora announced that its Board of Directors has authorized a stock repurchase program on Thursday, May 21st that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the company to reacquire up to 3.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's board believes its stock is undervalued.

Cencora Announces Dividend

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

About Cencora

Cencora NYSE: COR is a global healthcare services and pharmaceutical distribution company that provides end-to-end solutions across the pharmaceutical supply chain. The company's core activities include wholesale drug distribution, specialty drug distribution, and the operation of specialty pharmacies, complemented by logistics, cold-chain management and other fulfillment services designed to support complex and temperature-sensitive therapies.

Beyond physical distribution, Cencora offers a range of commercial and patient-focused services for pharmaceutical manufacturers and healthcare providers.

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