Cencora, Inc. (NYSE:COR) Shares Sold by PGGM Investments

PGGM Investments trimmed its position in Cencora, Inc. (NYSE:COR) by 5.8% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 84,688 shares of the company’s stock after selling 5,220 shares during the period. PGGM Investments’ holdings in Cencora were worth $19,080,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of COR. Valeo Financial Advisors LLC boosted its stake in Cencora by 3.4% in the second quarter. Valeo Financial Advisors LLC now owns 1,566 shares of the company’s stock valued at $353,000 after acquiring an additional 51 shares during the period. MJP Associates Inc. ADV boosted its stake in Cencora by 3.2% in the second quarter. MJP Associates Inc. ADV now owns 2,372 shares of the company’s stock valued at $534,000 after acquiring an additional 73 shares during the period. Dynamic Advisor Solutions LLC boosted its stake in Cencora by 9.4% in the second quarter. Dynamic Advisor Solutions LLC now owns 1,012 shares of the company’s stock valued at $228,000 after acquiring an additional 87 shares during the period. Cooper Financial Group raised its holdings in shares of Cencora by 3.2% during the second quarter. Cooper Financial Group now owns 2,920 shares of the company’s stock valued at $658,000 after buying an additional 91 shares during the last quarter. Finally, Rise Advisors LLC bought a new stake in shares of Cencora during the first quarter valued at approximately $25,000. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Cencora Stock Up 0.6 %

Shares of NYSE COR traded up $1.44 during mid-day trading on Wednesday, reaching $237.75. The company had a trading volume of 1,102,691 shares, compared to its average volume of 1,388,878. Cencora, Inc. has a twelve month low of $171.65 and a twelve month high of $247.66. The company has a debt-to-equity ratio of 3.93, a quick ratio of 0.53 and a current ratio of 0.89. The stock has a market capitalization of $47.42 billion, a PE ratio of 26.09, a price-to-earnings-growth ratio of 1.68 and a beta of 0.45. The stock’s 50 day moving average is $231.02 and its 200-day moving average is $232.36.

Cencora (NYSE:COR) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $3.34 EPS for the quarter, topping the consensus estimate of $3.18 by $0.16. The company had revenue of $74.20 billion for the quarter, compared to analyst estimates of $73.32 billion. Cencora had a net margin of 0.65% and a return on equity of 266.60%. Cencora’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.92 EPS. As a group, equities analysts anticipate that Cencora, Inc. will post 13.56 earnings per share for the current fiscal year.

Cencora Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 26th. Stockholders of record on Friday, August 9th will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.86%. Cencora’s dividend payout ratio is currently 22.32%.

Analysts Set New Price Targets

COR has been the topic of a number of recent analyst reports. Robert W. Baird lifted their price target on Cencora from $285.00 to $287.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Citigroup upped their target price on Cencora from $265.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Wells Fargo & Company upped their target price on Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. SVB Leerink restated an “outperform” rating and issued a $275.00 target price on shares of Cencora in a research report on Thursday, June 27th. Finally, StockNews.com upgraded Cencora from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 2nd. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $254.57.

Insider Buying and Selling

In related news, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of Cencora stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $215.12, for a total value of $399,991,976.80. Following the transaction, the insider now owns 24,418,171 shares in the company, valued at approximately $5,252,836,945.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Cencora news, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $215.12, for a total value of $399,991,976.80. Following the sale, the insider now directly owns 24,418,171 shares in the company, valued at approximately $5,252,836,945.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gina Clark sold 27,093 shares of the firm’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $216.07, for a total transaction of $5,853,984.51. Following the completion of the sale, the executive vice president now owns 15,158 shares in the company, valued at $3,275,189.06. The disclosure for this sale can be found here. Insiders have sold 6,338,756 shares of company stock worth $1,476,658,274 in the last quarter. 15.80% of the stock is currently owned by company insiders.

About Cencora

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.