USS Investment Management Ltd Sells 10,205 Shares of Cencora, Inc. $COR

Key Points

• USS Investment Management Ltd reduced its stake in Cencora, Inc. by 25% in Q1, leaving it with 30,582 shares valued at $8,503,000.
• Several institutional investors, including Cornerstone Planning Group LLC and University of Texas, increased their holdings in Cencora, which is now over 97% owned by hedge funds and other institutional investors.
• Cencora's stock has a consensus rating of "Moderate Buy" with a target price of $311.25 following positive earnings reports, and the company recently paid a quarterly dividend of $0.55.

USS Investment Management Ltd lessened its holdings in shares of Cencora, Inc. (NYSE:COR - Free Report) by 25.0% in the first quarter, according to its most recent filing with the SEC. The firm owned 30,582 shares of the company's stock after selling 10,205 shares during the period. USS Investment Management Ltd's holdings in Cencora were worth $8,503,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Cornerstone Planning Group LLC grew its holdings in 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 acquiring an additional 48 shares during the period. Hoey Investments Inc. acquired a new stake in Cencora during the 1st quarter worth $28,000. Costello Asset Management INC acquired a new stake in Cencora during the 1st quarter worth $28,000. University of Texas Texas AM Investment Management Co. acquired a new stake in Cencora during the 1st quarter worth $39,000. Finally, Vermillion Wealth Management Inc. acquired a new stake in Cencora during the 4th quarter worth $38,000. Institutional investors and hedge funds own 97.52% of the company's stock.

Cencora Stock Up 0.0%

COR traded up $0.03 during trading on Friday, hitting $302.83. The company had a trading volume of 1,189,360 shares, compared to its average volume of 1,313,938. The company has a market capitalization of $58.71 billion, a PE ratio of 31.16, a PEG ratio of 1.44 and a beta of 0.62. Cencora, Inc. has a one year low of $218.65 and a one year high of $309.35. The firm's 50-day moving average price is $293.24 and its 200 day moving average price is $285.74. The company has a quick ratio of 0.53, a current ratio of 0.90 and a debt-to-equity ratio of 3.64.

Cencora (NYSE:COR - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $4.00 EPS for the quarter, beating the consensus estimate of $3.79 by $0.21. The business had revenue of $80.66 billion for the quarter, compared to analysts' expectations of $80.34 billion. Cencora had a net margin of 0.60% and a return on equity of 267.36%. The firm's revenue was up 8.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.34 EPS. As a group, equities analysts expect 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 was paid on Wednesday, September 3rd. Investors of record on Friday, August 15th were given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Friday, August 15th. Cencora's payout ratio is currently 22.63%.

Insider Buying and Selling at Cencora

In other Cencora news, CEO Robert P. Mauch sold 4,968 shares of the business's stock in a transaction dated 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 sale, the chief executive officer directly owned 42,351 shares of the company's stock, valued at $12,455,852.61. The trade was a 10.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Steven H. Collis sold 14,578 shares of the business's stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $292.67, for a total transaction of $4,266,543.26. Following the sale, the chairman directly owned 309,913 shares in the company, valued at $90,702,237.71. This trade represents a 4.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,125 shares of company stock worth $9,993,789 over the last ninety days. 10.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on COR. Jefferies Financial Group boosted their price target on shares of Cencora from $275.00 to $300.00 and gave the company a "hold" rating in a report on Monday, June 30th. Morgan Stanley set a $330.00 price target on shares of Cencora and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Finally, 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 report on Wednesday, August 13th. Nine research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus 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.