Whittier Trust Co. Cuts Position in Cencora, Inc. $COR

Whittier Trust Co. cut its stake in Cencora, Inc. (NYSE:COR) by 3.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,581 shares of the company’s stock after selling 256 shares during the quarter. Whittier Trust Co.’s holdings in Cencora were worth $2,273,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

Several research analysts recently weighed in on COR shares. Wells Fargo & Company boosted their target price on Cencora from $337.00 to $354.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 13th. Morgan Stanley set a $330.00 target price on Cencora and gave the stock an “equal weight” rating in a research note on Wednesday, July 16th. Mizuho boosted their target price on Cencora from $316.00 to $334.00 and gave the stock an “outperform” rating in a research note on Thursday, October 16th. Evercore ISI set a $340.00 price target on Cencora in a research report on Wednesday, October 8th. Finally, Jefferies Financial Group lifted their price target on Cencora from $275.00 to $300.00 and gave the stock a “hold” rating in a research report on Monday, June 30th. Nine analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $324.91.

Insider Activity

In other news, Chairman Steven H. Collis sold 31,350 shares of the business’s stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $289.86, for a total value of $9,087,111.00. Following the completion of the transaction, the chairman owned 305,913 shares of the company’s stock, valued at $88,671,942.18. The trade was a 9.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Robert P. Mauch sold 5,097 shares of the business’s stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $326.80, for a total value of $1,665,699.60. Following the completion of the transaction, the chief executive officer directly owned 37,940 shares of the company’s stock, valued at approximately $12,398,792. This trade represents a 11.84% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 41,544 shares of company stock valued at $12,230,941. Insiders own 10.80% of the company’s stock.

Cencora Stock Performance

Shares of COR opened at $330.73 on Thursday. The stock has a market cap of $64.12 billion, a P/E ratio of 34.03, a P/E/G ratio of 1.54 and a beta of 0.63. The stock has a 50-day moving average of $302.62 and a two-hundred day moving average of $294.10. 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, Inc. has a one year low of $223.92 and a one year high of $331.73.

Cencora (NYSE:COR) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $4.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.79 by $0.21. The business had revenue of $80.66 billion during the quarter, compared to analysts’ expectations of $80.34 billion. Cencora had a return on equity of 267.36% and a net margin of 0.60%.The company’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.34 EPS. As a group, research analysts predict that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th were issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, August 15th. Cencora’s 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.