WINTON GROUP Ltd Sells 7,347 Shares of Cencora, Inc. $COR

Key Points

• WINTON GROUP Ltd reduced its Cencora stake by 74.5% in the second quarter, selling 7,347 shares and retaining 2,520 shares valued at approximately $713,000. Institutional investors still own 97.52% of the company.
• Wall Street remains generally bullish on Cencora, with 13 Buy ratings and three Holds, an overall “Moderate Buy” consensus, and an average price target of $370.85.
• Cencora exceeded quarterly earnings and revenue expectations, reporting $4.48 in EPS and $84.75 billion in revenue. The company also maintains a $0.60 quarterly dividend and authorized a $2 billion share-repurchase program.

WINTON GROUP Ltd cut its position in Cencora, Inc. (NYSE:COR - Free Report) by 74.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,520 shares of the company's stock after selling 7,347 shares during the period. WINTON GROUP Ltd's holdings in Cencora were worth $713,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of COR. Elyxium Wealth LLC purchased a new stake in Cencora in the 4th quarter worth $27,000. Elevation Wealth Partners LLC raised its holdings in Cencora by 506.2% during the second quarter. Elevation Wealth Partners LLC now owns 97 shares of the company's stock valued at $27,000 after acquiring an additional 81 shares during the period. Bell Investment Advisors Inc purchased a new position in shares of Cencora in the second quarter valued at about $28,000. Caitlin John LLC purchased a new position in shares of Cencora in the second quarter valued at about $28,000. Finally, Basepoint Wealth LLC bought a new position in shares of Cencora in the fourth quarter worth about $32,000. 97.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

COR has been the subject of several research analyst reports. UBS Group increased their target price on Cencora from $412.00 to $430.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Citigroup reissued a "buy" rating on shares of Cencora in a report on Thursday, August 6th. Evercore restated an "outperform" rating and issued a $350.00 price target on shares of Cencora in a research note on Thursday, August 6th. Barclays cut their price objective on shares of Cencora from $425.00 to $350.00 and set an "overweight" rating for the company in a report on Wednesday, June 10th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Cencora from $382.00 to $390.00 and gave the company an "overweight" rating in a research report on Friday, August 7th. Thirteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $370.85.

Cencora Stock Performance

NYSE COR opened at $326.67 on Tuesday. The stock has a market capitalization of $62.34 billion, a PE ratio of 24.27, a P/E/G ratio of 1.82 and a beta of 0.57. Cencora, Inc. has a 1-year low of $244.82 and a 1-year high of $377.54. The business has a 50 day simple moving average of $316.38 and a two-hundred day simple moving average of $307.95. The company has a debt-to-equity ratio of 3.53, a current ratio of 0.93 and a quick ratio of 0.58.

Cencora (NYSE:COR - Get Free Report) last posted its earnings results 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. The firm had revenue of $84.75 billion during the quarter, compared to analyst estimates of $84.31 billion. Cencora had a net margin of 0.79% and a return on equity of 125.45%. Cencora's revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period last year, the firm posted $4.00 earnings per share. On average, research analysts predict that Cencora, Inc. will post 17.87 EPS for the current fiscal year.

Cencora Announces Dividend

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

Cencora declared that its board has authorized a stock buyback plan on Thursday, May 21st that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 3.9% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board believes its stock is undervalued.

Insider Activity

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

Cencora Company Profile

Cencora, Inc NYSE: COR is a global healthcare company that provides pharmaceutical sourcing, distribution and related services. The company connects biopharmaceutical manufacturers with pharmacies, hospitals, health systems, physician practices and other healthcare providers, helping move prescription medicines and healthcare products through the supply chain.

Cencora's operations include pharmaceutical distribution, specialty pharmaceutical services, manufacturer support and patient-centered solutions.

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