Dakota Wealth Management Lowers Position in Cencora, Inc. $COR

Dakota Wealth Management trimmed its stake in shares of Cencora, Inc. (NYSE:COR) by 3.2% during the 2nd quarter, Holdings Channel.com reports. The fund owned 37,756 shares of the company’s stock after selling 1,258 shares during the quarter. Dakota Wealth Management’s holdings in Cencora were worth $11,321,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its stake in shares of Cencora by 8.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,647,310 shares of the company’s stock valued at $2,682,821,000 after purchasing an additional 787,858 shares during the period. Wellington Management Group LLP lifted its stake in shares of Cencora by 7.2% in the 1st quarter. Wellington Management Group LLP now owns 5,421,262 shares of the company’s stock valued at $1,507,599,000 after purchasing an additional 363,402 shares during the period. Boston Partners lifted its stake in shares of Cencora by 8.1% in the 1st quarter. Boston Partners now owns 5,411,193 shares of the company’s stock valued at $1,505,984,000 after purchasing an additional 404,093 shares during the period. Invesco Ltd. lifted its stake in shares of Cencora by 42.1% in the 1st quarter. Invesco Ltd. now owns 4,607,964 shares of the company’s stock valued at $1,281,429,000 after purchasing an additional 1,364,433 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Cencora by 9.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,711,281 shares of the company’s stock valued at $475,890,000 after purchasing an additional 154,311 shares during the period. 97.52% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Wells Fargo & Company lifted their price objective on Cencora from $337.00 to $354.00 and gave the company an “overweight” rating in a research note on Wednesday, August 13th. Jefferies Financial Group lifted their price objective on Cencora from $275.00 to $300.00 and gave the company a “hold” rating in a research note on Monday, June 30th. Finally, Morgan Stanley set a $330.00 target price on Cencora and gave the stock an “equal weight” rating in a report on Wednesday, July 16th. Nine analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Cencora presently has an average rating of “Moderate Buy” and an average price target of $311.25.

Insider Buying and Selling

In other Cencora news, CEO Robert P. Mauch sold 5,097 shares of the company’s stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $290.00, for a total transaction of $1,478,130.00. Following the sale, the chief executive officer directly owned 39,274 shares in the company, valued at $11,389,460. This represents a 11.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Steven H. Collis sold 31,350 shares of the company’s stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $289.86, for a total value of $9,087,111.00. Following the sale, the chairman owned 305,913 shares in the company, valued at approximately $88,671,942.18. This trade represents a 9.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 55,993 shares of company stock worth $16,292,923. Company insiders own 10.80% of the company’s stock.

Cencora Stock Performance

NYSE:COR opened at $308.33 on Thursday. The stock has a 50-day simple moving average of $292.62 and a two-hundred day simple moving average of $287.78. Cencora, Inc. has a 52-week low of $218.65 and a 52-week high of $309.64. The firm has a market capitalization of $59.78 billion, a PE ratio of 31.72, a P/E/G ratio of 1.54 and a beta of 0.62. The company has a debt-to-equity ratio of 3.64, a quick ratio of 0.53 and a current ratio of 0.90.

Cencora (NYSE:COR) last announced 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. Cencora had a return on equity of 267.36% and a net margin of 0.60%.The business had revenue of $80.66 billion for the quarter, compared to the consensus estimate of $80.34 billion. During the same period in the previous year, the business earned $3.34 earnings per share. The business’s revenue was up 8.7% on a year-over-year basis. Analysts forecast that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th were given a dividend of $0.55 per share. The ex-dividend date was Friday, August 15th. This represents a $2.20 dividend on an annualized basis and a yield of 0.7%. Cencora’s dividend payout ratio is 22.63%.

Cencora Company 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.