Bank of Stockton Cuts Stake in Cencora, Inc. (NYSE:COR)

by · The Markets Daily

Bank of Stockton lowered its holdings in Cencora, Inc. (NYSE:COR – Free Report) by 4.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,520 shares of the company’s stock after selling 126 shares during the quarter. Bank of Stockton’s holdings in Cencora were worth $567,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD bought a new position in shares of Cencora in the 1st quarter worth $2,183,619,000. JPMorgan Chase & Co. bought a new position in shares of Cencora during the 1st quarter worth approximately $1,199,695,000. Boston Partners purchased a new stake in Cencora during the first quarter valued at approximately $1,001,269,000. Capital Research Global Investors acquired a new stake in Cencora in the first quarter valued at approximately $650,424,000. Finally, Bessemer Group Inc. purchased a new stake in shares of Cencora during the 1st quarter valued at $556,245,000. 97.52% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Cencora

In other news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $240.56, for a total value of $1,067,646,415.76. Following the completion of the sale, the insider now directly owns 19,980,000 shares in the company, valued at $4,806,388,800. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $240.56, for a total transaction of $1,067,646,415.76. Following the completion of the sale, the insider now owns 19,980,000 shares of the company’s stock, valued at $4,806,388,800. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Silvana Battaglia sold 1,473 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total transaction of $357,482.37. Following the completion of the transaction, the executive vice president now directly owns 10,948 shares in the company, valued at $2,656,970.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,461,153 shares of company stock worth $1,073,075,720 in the last 90 days. Corporate insiders own 15.80% of the company’s stock.

Cencora Stock Performance

Shares of COR stock traded down $0.83 on Friday, hitting $234.33. The company had a trading volume of 174,323 shares, compared to its average volume of 1,406,914. The company has a 50-day moving average price of $232.22 and a 200-day moving average price of $230.91. The company has a quick ratio of 0.55, a current ratio of 0.89 and a debt-to-equity ratio of 3.93. The firm has a market cap of $46.74 billion, a P/E ratio of 25.73, a price-to-earnings-growth ratio of 1.40 and a beta of 0.44. Cencora, Inc. has a twelve month low of $182.75 and a twelve month high of $247.66.

Cencora (NYSE:COR – Get Free Report) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $3.34 EPS for the quarter, topping analysts’ consensus estimates of $3.18 by $0.16. Cencora had a net margin of 0.65% and a return on equity of 266.60%. The business had revenue of $74.20 billion for the quarter, compared to analysts’ expectations of $73.32 billion. During the same quarter last year, the company earned $2.92 EPS. The business’s revenue was up 10.8% on a year-over-year basis. As a group, equities research analysts predict that Cencora, Inc. will post 13.63 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend was Friday, August 9th. Cencora’s dividend payout ratio (DPR) is presently 22.32%.

Analysts Set New Price Targets

COR has been the subject of a number of research analyst reports. StockNews.com cut Cencora from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 20th. Evercore ISI dropped their target price on shares of Cencora from $270.00 to $250.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 8th. Bank of America reissued a “neutral” rating and set a $245.00 price objective (down from $275.00) on shares of Cencora in a report on Wednesday, September 18th. Leerink Partners dropped their price target on Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Finally, Wells Fargo & Company raised their price objective on Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Cencora presently has a consensus rating of “Moderate Buy” and an average price target of $259.44.

Check Out Our Latest Report on COR

Cencora Company Profile

(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.

Further Reading

Want to see what other hedge funds are holding COR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cencora, Inc. (NYSE:COR – Free Report).