C WorldWide Group Holding A S Lowers Position in Cencora, Inc. $COR

C WorldWide Group Holding A S decreased its stake in shares of Cencora, Inc. (NYSE:CORFree Report) by 25.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,892 shares of the company’s stock after selling 1,696 shares during the period. C WorldWide Group Holding A S’s holdings in Cencora were worth $1,384,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in COR. Accent Capital Management LLC boosted its holdings in Cencora by 36.1% in the fourth quarter. Accent Capital Management LLC now owns 113 shares of the company’s stock valued at $38,000 after acquiring an additional 30 shares during the last quarter. MCF Advisors LLC grew its stake in shares of Cencora by 11.0% in the fourth quarter. MCF Advisors LLC now owns 303 shares of the company’s stock valued at $102,000 after buying an additional 30 shares in the last quarter. CYBER HORNET ETFs LLC raised its holdings in shares of Cencora by 6.8% during the 4th quarter. CYBER HORNET ETFs LLC now owns 485 shares of the company’s stock valued at $164,000 after buying an additional 31 shares during the period. Steph & Co. lifted its position in Cencora by 23.5% during the 1st quarter. Steph & Co. now owns 168 shares of the company’s stock worth $53,000 after acquiring an additional 32 shares in the last quarter. Finally, Beacon Pointe Advisors LLC grew its position in Cencora by 1.1% in the fourth quarter. Beacon Pointe Advisors LLC now owns 3,492 shares of the company’s stock valued at $1,180,000 after acquiring an additional 37 shares in the last quarter. Institutional investors and hedge funds own 97.52% of the company’s stock.

Cencora Price Performance

Shares of COR stock opened at $323.99 on Wednesday. The firm has a fifty day moving average of $314.11 and a two-hundred day moving average of $309.06. The firm has a market cap of $61.83 billion, a P/E ratio of 24.07, a P/E/G ratio of 1.88 and a beta of 0.57. Cencora, Inc. has a 1-year low of $244.82 and a 1-year high of $377.54. The company has a debt-to-equity ratio of 3.53, a current ratio of 0.93 and a quick ratio of 0.58.

Cencora (NYSE:CORGet Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $4.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.35 by $0.13. The business had revenue of $84.75 billion for the quarter, compared to analyst estimates of $84.31 billion. Cencora had a net margin of 0.79% and a return on equity of 125.45%. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.00 EPS. As a group, research analysts anticipate that Cencora, Inc. will post 17.87 earnings per share for the current fiscal year.

Cencora announced that its Board of Directors has authorized a share repurchase plan on Thursday, May 21st that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to buy up to 3.9% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Cencora Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Friday, August 14th were given a $0.60 dividend. The ex-dividend date was Friday, August 14th. This represents a $2.40 annualized dividend and a dividend yield of 0.7%. Cencora’s dividend payout ratio (DPR) is presently 17.83%.

Insider Activity at Cencora

In other news, Director Lauren M. Tyler purchased 550 shares of the stock in a transaction dated Monday, June 22nd. The stock was acquired at an average cost of $270.23 per share, for a total transaction of $148,626.50. Following the acquisition, the director owned 4,359 shares of the company’s stock, valued at $1,177,932.57. The trade was a 14.44% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Elizabeth Campbell sold 11,300 shares of the firm’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $324.12, for a total value of $3,662,556.00. Following the transaction, the executive vice president owned 19,455 shares in the company, valued at $6,305,754.60. This trade represents a 36.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.38% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

COR has been the topic of a number of recent research reports. Bank of America boosted their target price on shares of Cencora from $280.00 to $285.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 24th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $330.00 price objective on shares of Cencora in a report on Tuesday. Wells Fargo & Company raised their target price on Cencora from $331.00 to $395.00 and gave the company an “overweight” rating in a research note on Tuesday, August 11th. UBS Group lifted their target price on Cencora from $412.00 to $430.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Finally, Robert W. Baird set a $370.00 price target on Cencora in a research note on Thursday, August 6th. Thirteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $370.85.

Get Our Latest Stock Analysis on Cencora

Cencora Profile

(Free Report)

Cencora, Inc (NYSE:COR) is a global healthcare company that provides pharmaceutical sourcing, distribution and related services. The company connects biopharmaceutical manufacturers with pharmacies, hospitals, health systems, physician practices and other healthcare providers, helping move prescription medicines and healthcare products through the supply chain.

Cencora’s operations include pharmaceutical distribution, specialty pharmaceutical services, manufacturer support and patient-centered solutions.

See Also

Institutional Ownership by Quarter for Cencora (NYSE:COR)

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