TimesSquare Capital Management LLC lowered its holdings in shares of Cencora, Inc. (NYSE:COR - Free Report) by 14.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 466,298 shares of the company's stock after selling 77,950 shares during the quarter. Cencora accounts for about 2.1% of TimesSquare Capital Management LLC's portfolio, making the stock its 2nd biggest position. TimesSquare Capital Management LLC owned about 0.24% of Cencora worth $129,673,000 as of its most recent SEC filing.
Several other institutional investors have also 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. bought a new position in Cencora during the first quarter worth about $28,000. Banque Transatlantique SA acquired a new position in Cencora during the fourth quarter worth approximately $29,000. Vermillion Wealth Management Inc. bought a new stake in Cencora in the fourth quarter valued at approximately $38,000. Finally, Golden State Wealth Management LLC lifted its position in shares of Cencora by 157.6% in the first quarter. Golden State Wealth Management LLC now owns 170 shares of the company's stock valued at $47,000 after buying an additional 104 shares during the last quarter. Institutional investors own 97.52% of the company's stock.
Insider Activity at Cencora
In related news, Chairman Steven H. Collis sold 14,579 shares of the firm's stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $292.62, for a total value of $4,266,106.98. Following the completion of the sale, the chairman owned 311,913 shares of the company's stock, valued at $91,271,982.06. This trade represents a 4.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Robert P. Mauch sold 4,969 shares of Cencora stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $289.33, for a total transaction of $1,437,680.77. Following the sale, the chief executive officer directly owned 47,582 shares in the company, valued at $13,766,900.06. The trade was a 9.46% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,127 shares of company stock worth $9,812,296. 10.80% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on COR shares. UBS Group increased their price target on Cencora from $298.00 to $335.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Wells Fargo & Company upgraded shares of Cencora from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $274.00 to $337.00 in a report on Tuesday, June 3rd. Citigroup raised their target price on shares of Cencora from $330.00 to $355.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Bank of America lifted their target price on shares of Cencora from $270.00 to $285.00 and gave the stock a "neutral" rating in a report on Friday, April 11th. Finally, Jefferies Financial Group upped 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. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $309.83.
Read Our Latest Research Report on Cencora
Cencora Price Performance
Cencora stock traded down $3.25 during midday trading on Thursday, reaching $294.58. 803,583 shares of the stock were exchanged, compared to its average volume of 1,505,868. Cencora, Inc. has a 52 week low of $218.65 and a 52 week high of $309.35. The company has a debt-to-equity ratio of 6.01, a quick ratio of 0.52 and a current ratio of 0.87. The firm has a market cap of $57.10 billion, a PE ratio of 34.17, a PEG ratio of 1.48 and a beta of 0.57. The company's fifty day moving average is $292.19 and its 200-day moving average is $271.61.
Cencora (NYSE:COR - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $4.42 earnings per share for the quarter, beating analysts' consensus estimates of $4.07 by $0.35. The business had revenue of $75.50 billion for the quarter, compared to the consensus estimate of $75.41 billion. Cencora had a net margin of 0.55% and a return on equity of 344.71%. Cencora's quarterly revenue was up 10.3% on a year-over-year basis. During the same period last year, the firm posted $3.80 earnings per share. On average, sell-side analysts forecast that Cencora, Inc. will post 15.37 EPS for the current year.
Cencora Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 16th were issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 0.75%. The ex-dividend date was Friday, May 16th. Cencora's dividend payout ratio is presently 25.52%.
Cencora Company Profile
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Free Report)
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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