TIAA Trust National Association Decreases Stake in Cencora, Inc. $COR

TIAA Trust National Association trimmed its holdings in Cencora, Inc. (NYSE:COR) by 85.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,700 shares of the company’s stock after selling 61,024 shares during the period. TIAA Trust National Association’s holdings in Cencora were worth $3,208,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Atlantic Edge Private Wealth Management LLC increased its holdings in Cencora by 70.0% during the 2nd quarter. Atlantic Edge Private Wealth Management LLC now owns 85 shares of the company’s stock valued at $25,000 after acquiring an additional 35 shares in the last quarter. Cornerstone Planning Group LLC increased its holdings in Cencora by 106.7% during the 1st quarter. Cornerstone Planning Group LLC now owns 93 shares of the company’s stock valued at $26,000 after acquiring an additional 48 shares in the last quarter. Costello Asset Management INC purchased a new position in Cencora during the 1st quarter valued at about $28,000. University of Texas Texas AM Investment Management Co. purchased a new position in Cencora during the 1st quarter valued at about $39,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Cencora during the 2nd quarter valued at about $61,000. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Cencora Trading Up 0.9%

NYSE COR opened at $340.74 on Tuesday. Cencora, Inc. has a 12 month low of $223.92 and a 12 month high of $350.46. The company has a 50-day moving average of $309.14 and a 200-day moving average of $297.57. The company has a debt-to-equity ratio of 3.64, a current ratio of 0.90 and a quick ratio of 0.53. The company has a market cap of $66.06 billion, a P/E ratio of 35.06, a P/E/G ratio of 1.56 and a beta of 0.63.

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

Cencora Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Friday, August 15th were given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Friday, August 15th. Cencora’s dividend payout ratio is 22.63%.

Insider Buying and Selling

In related news, Chairman Steven H. Collis sold 31,350 shares of the stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $289.86, for a total transaction of $9,087,111.00. Following the completion of the sale, the chairman owned 305,913 shares of the company’s stock, valued at approximately $88,671,942.18. This represents a 9.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert P. Mauch sold 5,097 shares of the stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $326.80, for a total transaction of $1,665,699.60. Following the sale, 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. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 41,544 shares of company stock valued at $12,230,941. Corporate insiders own 10.80% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on COR. Mizuho raised their target price on shares of Cencora from $334.00 to $340.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. UBS Group raised their target price on shares of Cencora from $350.00 to $380.00 and gave the company a “buy” rating in a report on Monday, October 27th. Morgan Stanley set a $330.00 target price on shares of Cencora and gave the company an “equal weight” rating in a report on Wednesday, July 16th. Evercore ISI set a $340.00 target price on shares of Cencora in a report on Wednesday, October 8th. Finally, Wells Fargo & Company upped their target price 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 equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Cencora has an average rating of “Moderate Buy” and a consensus target price of $329.55.

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.