Generate Investment Management Ltd Reduces Stock Position in Cencora, Inc. $COR

Generate Investment Management Ltd trimmed its position in Cencora, Inc. (NYSE:COR) by 41.9% during the second quarter, Holdings Channel.com reports. The firm owned 17,857 shares of the company’s stock after selling 12,886 shares during the period. Generate Investment Management Ltd’s holdings in Cencora were worth $5,354,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of COR. Invesco Ltd. lifted its stake in shares of Cencora by 42.1% during the first quarter. Invesco Ltd. now owns 4,607,964 shares of the company’s stock valued at $1,281,429,000 after buying an additional 1,364,433 shares during the period. T. Rowe Price Investment Management Inc. lifted its stake in shares of Cencora by 4,459.6% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 997,233 shares of the company’s stock worth $277,321,000 after purchasing an additional 975,362 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Cencora by 8.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,647,310 shares of the company’s stock worth $2,682,821,000 after purchasing an additional 787,858 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Cencora in the first quarter valued at $181,284,000. Finally, Caisse DE Depot ET Placement DU Quebec increased its stake in Cencora by 144.4% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 743,072 shares of the company’s stock valued at $206,641,000 after purchasing an additional 439,008 shares during the last quarter. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Cencora Trading Up 2.7%

NYSE COR opened at $306.94 on Monday. The firm has a market capitalization of $59.51 billion, a price-to-earnings ratio of 31.58, a PEG ratio of 1.56 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, Inc. has a one year low of $218.65 and a one year high of $310.00. The company’s 50 day moving average price is $293.00 and its 200 day moving average price is $288.82.

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

Cencora Dividend Announcement

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

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, CEO Robert P. Mauch sold 5,097 shares of Cencora stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $290.00, for a total transaction of $1,478,130.00. Following the sale, the chief executive officer owned 39,274 shares in the company, valued at $11,389,460. This trade represents a 11.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Steven H. Collis sold 31,350 shares of the company’s stock in a transaction 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 transaction, the chairman owned 305,913 shares of the company’s stock, valued at $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 quarter, insiders have sold 55,993 shares of company stock worth $16,292,923. Company insiders own 10.80% of the company’s stock.

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.